IDEXX Laboratories (NASDAQ:IDXX) Lowered to “Hold” Rating by StockNews.com

StockNews.com lowered shares of IDEXX Laboratories (NASDAQ:IDXX) from a buy rating to a hold rating in a research note published on Saturday morning.

IDXX has been the topic of several other research reports. Morgan Stanley reduced their target price on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Leerink Partners initiated coverage on IDEXX Laboratories in a report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price objective on the stock. Bank of America increased their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Piper Sandler increased their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $533.75.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $415.30 on Friday. The company has a market capitalization of $33.78 billion, a price-to-earnings ratio of 38.92, a PEG ratio of 3.41 and a beta of 1.39. The business has a 50 day moving average of $438.03 and a 200 day moving average of $447.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. IDEXX Laboratories has a 1-year low of $398.50 and a 1-year high of $548.88.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of IDEXX Laboratories stock in a transaction that occurred 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 sale, the executive vice president now directly 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 legal filing with the SEC, which can be accessed through this link. Also, Director M Anne Szostak sold 3,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 3,061 shares of the company’s stock, valued at $1,426,242.34. This represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.18% of the company’s stock.

Institutional Investors Weigh In On IDEXX Laboratories

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IDXX. FSA Wealth Management LLC purchased a new stake in shares of IDEXX Laboratories in the 3rd quarter worth about $25,000. Hurley Capital LLC purchased a new stake in IDEXX Laboratories in the fourth quarter worth about $29,000. Rialto Wealth Management LLC bought a new position in shares of IDEXX Laboratories during the fourth quarter valued at approximately $30,000. Retirement Wealth Solutions LLC purchased a new position in shares of IDEXX Laboratories during the fourth quarter valued at approximately $31,000. Finally, Colonial Trust Co SC boosted its position in shares of IDEXX Laboratories by 84.8% in the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company’s stock worth $35,000 after purchasing an additional 39 shares in the last quarter. 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.