IDEXX Laboratories (NASDAQ:IDXX) Downgraded by StockNews.com to Hold

StockNews.com cut shares of IDEXX Laboratories (NASDAQ:IDXX) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

IDXX has been the subject of a number of other reports. Barclays increased their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. 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 report on Tuesday, February 4th. Leerink Partners initiated coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price objective on the stock. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Piper Sandler boosted their price target 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 equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $533.75.

IDEXX Laboratories Trading Down 1.4 %

Shares of NASDAQ:IDXX opened at $417.66 on Tuesday. 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 stock’s 50-day moving average is $437.36 and its 200-day moving average is $444.05. The company has a market cap of $33.85 billion, a P/E ratio of 39.14, a P/E/G ratio of 3.41 and a beta of 1.39. IDEXX Laboratories has a 52-week low of $398.50 and a 52-week high of $548.88.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were 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. This represents a 54.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction that occurred on Friday, February 7th. The shares were 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 $1,426,242.34. This trade represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is owned by insiders.

Institutional Trading of IDEXX Laboratories

Hedge funds and other institutional investors have recently made changes to their positions in the business. United Capital Financial Advisors LLC grew its holdings in IDEXX Laboratories by 0.9% during the 4th quarter. United Capital Financial Advisors LLC now owns 2,446 shares of the company’s stock worth $1,011,000 after acquiring an additional 22 shares during the last quarter. Cranbrook Wealth Management LLC increased its holdings in shares of IDEXX Laboratories by 7.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock valued at $158,000 after purchasing an additional 25 shares in the last quarter. Gabelli Funds LLC increased its holdings in shares of IDEXX Laboratories by 5.3% in the fourth quarter. Gabelli Funds LLC now owns 500 shares of the company’s stock valued at $207,000 after purchasing an additional 25 shares in the last quarter. Perigon Wealth Management LLC raised its position in IDEXX Laboratories by 1.8% in the 4th quarter. Perigon Wealth Management LLC now owns 1,474 shares of the company’s stock worth $632,000 after purchasing an additional 26 shares during the last quarter. Finally, Summit Trail Advisors LLC lifted its holdings in IDEXX Laboratories by 3.3% during the 4th quarter. Summit Trail Advisors LLC now owns 810 shares of the company’s stock worth $335,000 after buying an additional 26 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

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.