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

IDEXX Laboratories (NASDAQ:IDXXGet Free Report) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

A number of other research analysts have also commented on the company. Morgan Stanley lowered their price objective on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a report on Tuesday, May 14th. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Barclays dropped their target price on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Finally, Stifel Nicolaus decreased their price target on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a report on Monday, June 24th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $586.63.

View Our Latest Research Report on IDEXX Laboratories

IDEXX Laboratories Stock Up 1.2 %

Shares of NASDAQ IDXX traded up $5.50 during mid-day trading on Wednesday, reaching $483.39. The company had a trading volume of 328,144 shares, compared to its average volume of 467,932. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.16 and a current ratio of 1.57. IDEXX Laboratories has a twelve month low of $372.50 and a twelve month high of $583.39. The stock’s 50 day moving average is $499.93 and its 200-day moving average is $523.00. The stock has a market capitalization of $39.92 billion, a PE ratio of 46.79, a price-to-earnings-growth ratio of 3.95 and a beta of 1.32.

IDEXX Laboratories (NASDAQ:IDXXGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.68 by $0.13. The business had revenue of $964.10 million during the quarter, compared to analysts’ expectations of $965.43 million. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. As a group, equities analysts anticipate that IDEXX Laboratories will post 11.03 earnings per share for the current fiscal year.

Insider Activity at IDEXX Laboratories

In other news, Director Bruce L. Claflin sold 200 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $540.80, for a total transaction of $108,160.00. Following the completion of the sale, the director now owns 161 shares in the company, valued at $87,068.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On IDEXX Laboratories

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of IDEXX Laboratories during the 4th quarter worth approximately $512,190,000. International Assets Investment Management LLC raised its position in IDEXX Laboratories by 51,631.3% during the fourth quarter. International Assets Investment Management LLC now owns 547,834 shares of the company’s stock worth $304,075,000 after acquiring an additional 546,775 shares in the last quarter. Capital Research Global Investors acquired a new stake in IDEXX Laboratories in the fourth quarter valued at $135,910,000. TD Asset Management Inc grew its position in shares of IDEXX Laboratories by 178.8% in the 4th quarter. TD Asset Management Inc now owns 260,008 shares of the company’s stock valued at $144,317,000 after acquiring an additional 166,751 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of IDEXX Laboratories during the 4th quarter worth about $78,001,000. Institutional investors own 87.84% of the company’s stock.

About IDEXX Laboratories

(Get Free Report)

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.

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