IDEXX Laboratories, Inc. (NASDAQ:IDXX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have earned a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $533.75.

Several brokerages have recently weighed in on IDXX. Leerink Partners began coverage on shares of IDEXX Laboratories in a research report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price objective on the stock. Piper Sandler increased their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research report on Monday. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Barclays upped their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Finally, Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd.

IDEXX Laboratories Stock Performance

IDXX opened at $463.74 on Wednesday. IDEXX Laboratories has a 12-month low of $398.50 and a 12-month high of $583.39. The stock has a market cap of $37.98 billion, a price-to-earnings ratio of 43.46, a PEG ratio of 3.47 and a beta of 1.37. The business has a 50 day moving average of $429.03 and a 200-day moving average of $453.28. The company has a quick ratio of 1.03, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

Insider Transactions at IDEXX Laboratories

In other news, EVP George Fennell sold 9,986 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now owns 8,176 shares of the company’s stock, valued at approximately $3,781,645.28. The trade was a 54.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $465.94, for a total value of $1,397,820.00. Following the transaction, the director now directly owns 3,061 shares of the company’s stock, valued at $1,426,242.34. This trade represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,330 shares of company stock valued at $6,161,276. 2.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On IDEXX Laboratories

Hedge funds and other institutional investors have recently bought and sold shares of the company. FSA Wealth Management LLC acquired a new position in shares of IDEXX Laboratories during the third quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in IDEXX Laboratories by 5,700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after buying an additional 57 shares during the period. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in IDEXX Laboratories by 750.0% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after buying an additional 60 shares during the period. Rialto Wealth Management LLC acquired a new position in IDEXX Laboratories during the 4th quarter worth about $30,000. Finally, Ashton Thomas Securities LLC acquired a new position in IDEXX Laboratories during the 3rd quarter worth about $37,000. Institutional investors own 87.84% of the company’s stock.

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.