Piper Sandler Boosts IDEXX Laboratories (NASDAQ:IDXX) Price Target to $510.00

IDEXX Laboratories (NASDAQ:IDXX) had its price target upped by stock analysts at Piper Sandler from $435.00 to $510.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 9.98% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Bank of America raised their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Leerink Partners initiated coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price target for the company. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Barclays lifted their price objective 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, Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, IDEXX Laboratories has a consensus rating of “Moderate Buy” and an average price target of $533.75.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $463.74 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.03 and a current ratio of 1.31. The stock has a fifty day moving average of $429.03 and a two-hundred day moving average of $453.28. The company has a market capitalization of $37.98 billion, a price-to-earnings ratio of 43.46, a PEG ratio of 3.47 and a beta of 1.37. IDEXX Laboratories has a fifty-two week low of $398.50 and a fifty-two week high of $583.39.

Insiders Place Their Bets

In other news, EVP George Fennell sold 9,986 shares of the 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 sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director M Anne Szostak sold 3,000 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was 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 in the company, valued at $1,426,242.34. The trade was a 49.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,330 shares of company stock valued at $6,161,276 in the last quarter. Insiders own 2.11% of the company’s stock.

Institutional Trading of IDEXX Laboratories

Several large investors have recently added to or reduced their stakes in the business. Angeles Wealth Management LLC increased its position in IDEXX Laboratories by 2.4% in the 3rd quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company’s stock valued at $545,000 after acquiring an additional 25 shares during the period. Cranbrook Wealth Management LLC increased its position in IDEXX Laboratories by 7.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock valued at $158,000 after acquiring an additional 25 shares during the period. Perigon Wealth Management LLC increased its position in IDEXX Laboratories by 1.8% in the 4th quarter. Perigon Wealth Management LLC now owns 1,474 shares of the company’s stock valued at $632,000 after acquiring an additional 26 shares during the period. Summit Trail Advisors LLC increased its position in shares of IDEXX Laboratories by 3.3% during the 4th quarter. Summit Trail Advisors LLC now owns 810 shares of the company’s stock valued at $335,000 after purchasing an additional 26 shares during the period. Finally, First Horizon Advisors Inc. increased its position in shares of IDEXX Laboratories by 4.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 704 shares of the company’s stock valued at $356,000 after purchasing an additional 27 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

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.