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

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

Other research analysts also recently issued research reports about the company. Barclays increased their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Piper Sandler raised their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Bank of America upped their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Leerink Partners began coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price objective for the company. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $533.75.

IDEXX Laboratories Trading Down 1.4 %

Shares of NASDAQ IDXX opened at $417.66 on Tuesday. IDEXX Laboratories has a fifty-two week low of $398.50 and a fifty-two week high of $548.88. The firm has a market capitalization of $33.85 billion, a P/E ratio of 39.14, a P/E/G ratio of 3.41 and a beta of 1.39. 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 company’s 50 day simple moving average is $437.36 and its 200 day simple moving average is $444.05.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 8,176 shares in the company, valued at approximately $3,781,645.28. This represents a 54.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories 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 transaction, the director now owns 3,061 shares in the company, 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. Company insiders own 2.11% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in shares of IDEXX Laboratories by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 2,297,271 shares of the company’s stock worth $948,279,000 after acquiring an additional 37,734 shares in the last quarter. Bamco Inc. NY increased its holdings in IDEXX Laboratories by 4.3% in the fourth quarter. Bamco Inc. NY now owns 2,005,522 shares of the company’s stock worth $829,163,000 after purchasing an additional 82,264 shares in the last quarter. Franklin Resources Inc. lifted its stake in IDEXX Laboratories by 2.5% in the third quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock valued at $675,259,000 after buying an additional 34,305 shares during the period. Invesco Ltd. boosted its holdings in shares of IDEXX Laboratories by 6.8% during the 4th quarter. Invesco Ltd. now owns 1,160,988 shares of the company’s stock worth $479,999,000 after buying an additional 74,324 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of IDEXX Laboratories during the 4th quarter worth approximately $412,258,000. 87.84% of the stock is 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.