IDEXX Laboratories (NASDAQ:IDXX) Rating Increased to Buy at StockNews.com

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

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

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $393.73 on Friday. The business has a 50 day moving average price of $435.55 and a two-hundred day moving average price of $439.31. IDEXX Laboratories has a fifty-two week low of $393.50 and a fifty-two week high of $548.88. The firm has a market cap of $31.91 billion, a PE ratio of 36.90, a price-to-earnings-growth ratio of 3.41 and a beta of 1.50. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

Insider Buying and Selling at IDEXX Laboratories

In related news, Director M Anne Szostak sold 3,000 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $465.94, for a total value of $1,397,820.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP George Fennell sold 9,986 shares of IDEXX Laboratories stock in a transaction dated 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 owns 8,176 shares in the company, valued at approximately $3,781,645.28. This represents 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 currently owned by insiders.

Institutional Investors Weigh In On IDEXX Laboratories

Large investors have recently made changes to their positions in the company. Norges Bank acquired a new position in IDEXX Laboratories during the 4th quarter worth $412,258,000. Flossbach Von Storch SE lifted its holdings in IDEXX Laboratories by 5,439.3% in the fourth quarter. Flossbach Von Storch SE now owns 473,336 shares of the company’s stock worth $195,696,000 after purchasing an additional 464,791 shares during the period. Alyeska Investment Group L.P. bought a new position in IDEXX Laboratories in the 4th quarter valued at about $156,412,000. William Blair Investment Management LLC grew its position in IDEXX Laboratories by 701.6% in the 4th quarter. William Blair Investment Management LLC now owns 422,133 shares of the company’s stock valued at $174,527,000 after buying an additional 369,471 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of IDEXX Laboratories by 265.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company’s stock worth $179,867,000 after buying an additional 316,048 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

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.