IDEXX Laboratories (NASDAQ:IDXX) Upgraded at StockNews.com

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

Other research analysts have also recently issued research reports about the stock. Piper Sandler raised their price target on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Leerink Partners assumed coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 target price for the company. Morgan Stanley lowered their price target 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. Barclays increased their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Finally, Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $533.75.

IDEXX Laboratories Trading Down 0.9 %

Shares of IDXX stock opened at $437.11 on Thursday. 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 has a fifty day moving average of $435.31 and a 200-day moving average of $451.29. IDEXX Laboratories has a 52-week low of $398.50 and a 52-week high of $580.18. The stock has a market cap of $35.55 billion, a price-to-earnings ratio of 40.97, a P/E/G ratio of 3.41 and a beta of 1.37.

Insider Activity

In related news, EVP George Fennell sold 9,986 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $3,781,645.28. The trade was a 54.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director M Anne Szostak sold 3,000 shares of the company’s stock in a transaction on Friday, February 7th. The shares were 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 in the company, 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 currently owned by corporate insiders.

Institutional Investors Weigh In On IDEXX Laboratories

A number of institutional investors and hedge funds have recently modified their holdings of the business. FSA Wealth Management LLC bought a new position in IDEXX Laboratories in the third quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of IDEXX Laboratories by 5,700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after purchasing an additional 57 shares during the period. Hurley Capital LLC bought a new position in shares of IDEXX Laboratories in the 4th quarter worth $29,000. Rialto Wealth Management LLC acquired a new stake in shares of IDEXX Laboratories during the fourth quarter worth $30,000. Finally, Retirement Wealth Solutions LLC bought a new stake in IDEXX Laboratories in the fourth quarter valued at about $31,000. 87.84% of the stock is owned by 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.