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

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

A number of other research firms have also issued reports on IDXX. Barclays upped their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Morgan Stanley dropped their price objective on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Piper Sandler raised their target price 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 began coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price target for the company. Finally, Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $533.75.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $417.71 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. The stock’s 50 day simple moving average is $437.26 and its 200-day simple moving average is $443.87. The company has a market cap of $33.86 billion, a PE ratio of 39.15, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39. IDEXX Laboratories has a 1-year low of $398.50 and a 1-year high of $548.88.

Insider Buying and Selling

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 value of $4,618,824.58. Following the transaction, the executive vice president now owns 8,176 shares of the company’s stock, valued at $3,781,645.28. This represents a 54.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director M Anne Szostak sold 3,000 shares of the stock in a transaction dated 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 transaction, the director now directly 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 position. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On IDEXX Laboratories

Several large investors have recently made changes to their positions in the stock. FSA Wealth Management LLC acquired a new position in IDEXX Laboratories during the third quarter worth $25,000. Hurley Capital LLC acquired a new position in IDEXX Laboratories during the 4th quarter worth about $29,000. Rialto Wealth Management LLC purchased a new position in IDEXX Laboratories during the 4th quarter valued at about $30,000. Retirement Wealth Solutions LLC acquired a new position in IDEXX Laboratories in the 4th quarter valued at about $31,000. Finally, Colonial Trust Co SC increased its stake in IDEXX Laboratories by 84.8% during the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company’s stock worth $35,000 after purchasing an additional 39 shares during the period. 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.