IDEXX Laboratories (NASDAQ:IDXX) Cut to “Hold” at StockNews.com

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 Saturday morning.

A number of other equities research analysts have also recently issued reports on IDXX. Leerink Partners initiated coverage on IDEXX Laboratories in a report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price target on the stock. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Piper Sandler boosted their target price on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Barclays raised their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Finally, Morgan Stanley cut their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $533.75.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $422.36 on Friday. 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 has a market capitalization of $34.35 billion, a P/E ratio of 39.58, a P/E/G ratio of 3.41 and a beta of 1.39. The business has a 50-day moving average of $437.89 and a two-hundred day moving average of $446.30. IDEXX Laboratories has a fifty-two week low of $398.50 and a fifty-two week high of $548.88.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction 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 sale, the director now owns 3,061 shares in the company, valued at $1,426,242.34. The trade was a 49.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP George Fennell sold 9,986 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 8,176 shares in the company, valued at $3,781,645.28. This trade represents a 54.98 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.11% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lansforsakringar Fondforvaltning AB publ bought a new position in shares of IDEXX Laboratories during the 4th quarter worth approximately $11,226,000. PKO Investment Management Joint Stock Co acquired a new position in IDEXX Laboratories during the fourth quarter worth $1,158,000. Centaurus Financial Inc. raised its stake in IDEXX Laboratories by 23.3% during the fourth quarter. Centaurus Financial Inc. now owns 280 shares of the company’s stock worth $116,000 after acquiring an additional 53 shares in the last quarter. Dogwood Wealth Management LLC lifted its holdings in shares of IDEXX Laboratories by 16.9% during the fourth quarter. Dogwood Wealth Management LLC now owns 1,490 shares of the company’s stock valued at $616,000 after acquiring an additional 215 shares during the period. Finally, Menard Financial Group LLC acquired a new stake in shares of IDEXX Laboratories in the 4th quarter valued at $45,000. Institutional investors own 87.84% of the company’s stock.

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.