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

StockNews.com downgraded shares of IDEXX Laboratories (NASDAQ:IDXX) from a buy rating to a hold rating in a research report report published on Friday morning.

Several other research analysts have also recently weighed in on the stock. Piper Sandler boosted their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Bank of America boosted their price objective 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. Morgan Stanley decreased their price objective on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Barclays boosted their price objective on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Finally, Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $533.75.

IDEXX Laboratories Trading Up 0.3 %

Shares of NASDAQ IDXX opened at $430.12 on Friday. The firm’s 50 day moving average price is $437.37 and its 200-day moving average price is $449.72. The company has a market cap of $34.98 billion, a PE ratio of 40.31, 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 $574.94. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 3,000 shares of the company’s 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 sale, the director now directly owns 3,061 shares of the company’s stock, valued at approximately $1,426,242.34. This represents a 49.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP George Fennell sold 9,986 shares of the company’s 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 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 ownership of the stock. The disclosure for this sale can be found here. 2.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IDEXX Laboratories

A number of hedge funds have recently modified their holdings of IDXX. Farther Finance Advisors LLC boosted its position in shares of IDEXX Laboratories by 15.0% in the third quarter. Farther Finance Advisors LLC now owns 805 shares of the company’s stock worth $407,000 after purchasing an additional 105 shares during the period. QRG Capital Management Inc. boosted its position in shares of IDEXX Laboratories by 4.8% in the third quarter. QRG Capital Management Inc. now owns 2,107 shares of the company’s stock worth $1,064,000 after purchasing an additional 96 shares during the period. Crestwood Advisors Group LLC bought a new position in shares of IDEXX Laboratories in the third quarter worth approximately $226,000. Concurrent Investment Advisors LLC boosted its position in shares of IDEXX Laboratories by 4.7% in the third quarter. Concurrent Investment Advisors LLC now owns 630 shares of the company’s stock worth $318,000 after purchasing an additional 28 shares during the period. Finally, Graypoint LLC boosted its position in shares of IDEXX Laboratories by 16.9% in the third quarter. Graypoint LLC now owns 610 shares of the company’s stock worth $308,000 after purchasing an additional 88 shares during the period. 87.84% of the stock is currently 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.