IDEXX Laboratories (NASDAQ:IDXX) Cut to Hold at StockNews.com

IDEXX Laboratories (NASDAQ:IDXX) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

A number of other brokerages also recently weighed in on IDXX. Barclays boosted their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Morgan Stanley cut their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Bank of America increased their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, Piper Sandler lifted their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, IDEXX Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $533.75.

IDEXX Laboratories Stock Down 1.9 %

IDEXX Laboratories stock opened at $429.03 on Friday. IDEXX Laboratories has a fifty-two week low of $398.50 and a fifty-two week high of $574.94. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The firm’s 50-day simple moving average is $437.06 and its 200 day simple moving average is $450.19. The stock has a market cap of $34.89 billion, a PE ratio of 40.21, a price-to-earnings-growth ratio of 3.41 and a beta of 1.37.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 3,000 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $465.94, for a total transaction of $1,397,820.00. Following the sale, the director now owns 3,061 shares in the company, valued at $1,426,242.34. This represents a 49.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP George Fennell sold 9,986 shares of IDEXX Laboratories stock in a transaction on Monday, February 10th. The shares were sold at an average price of $462.53, for a total value of $4,618,824.58. Following the completion of the transaction, the executive vice president now owns 8,176 shares of the company’s stock, valued at approximately $3,781,645.28. This trade represents a 54.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.11% of the company’s stock.

Institutional Investors Weigh In On IDEXX Laboratories

A number of institutional investors and hedge funds have recently modified their holdings of the company. Dogwood Wealth Management LLC increased its holdings in IDEXX Laboratories by 16.9% during the 4th quarter. Dogwood Wealth Management LLC now owns 1,490 shares of the company’s stock worth $616,000 after acquiring an additional 215 shares during the period. Menard Financial Group LLC purchased a new position in shares of IDEXX Laboratories during the 4th quarter valued at $45,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of IDEXX Laboratories in the fourth quarter worth $38,818,000. Azzad Asset Management Inc. ADV raised its position in shares of IDEXX Laboratories by 6.2% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 7,159 shares of the company’s stock worth $2,960,000 after buying an additional 418 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its stake in IDEXX Laboratories by 97.0% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 1,838 shares of the company’s stock valued at $760,000 after buying an additional 905 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

About IDEXX Laboratories

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.