IDEXX Laboratories (NASDAQ:IDXX) Hits New 12-Month Low – What’s Next?

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) hit a new 52-week low on Friday . The stock traded as low as $393.80 and last traded at $399.79, with a volume of 363147 shares trading hands. The stock had previously closed at $410.76.

Analyst Upgrades and Downgrades

IDXX has been the topic of a number of recent analyst reports. Bank of America lifted their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Morgan Stanley reduced their price objective on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Friday. Barclays boosted their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Finally, Piper Sandler raised their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $533.75.

IDEXX Laboratories Stock Performance

The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. The company has a market cap of $31.91 billion, a P/E ratio of 36.90, a price-to-earnings-growth ratio of 3.41 and a beta of 1.50. The company’s fifty day moving average is $435.55 and its 200 day moving average is $439.81.

Insider Activity at IDEXX Laboratories

In other news, EVP George Fennell sold 9,986 shares of the business’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 transaction, the executive vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of the company’s stock in a transaction on 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 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 ownership of the stock. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Hurley Capital LLC bought a new position in IDEXX Laboratories in the fourth quarter worth $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 bought a new position in shares of IDEXX Laboratories during the fourth quarter valued at approximately $31,000. Colonial Trust Co SC lifted its holdings in shares of IDEXX Laboratories by 84.8% during the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company’s stock valued at $35,000 after purchasing an additional 39 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new position in IDEXX Laboratories during the 4th quarter valued at approximately $38,000. 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.