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

IDEXX Laboratories (NASDAQ:IDXX) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

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

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $423.60 on Tuesday. The company has a market capitalization of $34.34 billion, a P/E ratio of 39.70, a P/E/G ratio of 3.41 and a beta of 1.39. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. IDEXX Laboratories has a 52-week low of $398.50 and a 52-week high of $548.88. The company has a fifty day moving average of $437.38 and a 200-day moving average of $444.44.

Insider Transactions at IDEXX Laboratories

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Cerity Partners LLC lifted its holdings in shares of IDEXX Laboratories by 25.2% during the third quarter. Cerity Partners LLC now owns 10,924 shares of the company’s stock valued at $5,519,000 after purchasing an additional 2,202 shares during the last quarter. Kingsview Wealth Management LLC purchased a new position in IDEXX Laboratories during the third quarter valued at $507,000. Centaurus Financial Inc. purchased a new position in IDEXX Laboratories during the third quarter valued at $115,000. Summit Trail Advisors LLC boosted its holdings in IDEXX Laboratories by 11.5% in the third quarter. Summit Trail Advisors LLC now owns 784 shares of the company’s stock worth $396,000 after acquiring an additional 81 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of IDEXX Laboratories by 10.1% in the third quarter. Daiwa Securities Group Inc. now owns 16,462 shares of the company’s stock worth $8,316,000 after acquiring an additional 1,510 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Company Profile

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.