Stifel Nicolaus Cuts IDEXX Laboratories (NASDAQ:IDXX) Price Target to $420.00

IDEXX Laboratories (NASDAQ:IDXX) had its target price lowered by Stifel Nicolaus from $450.00 to $420.00 in a report released on Monday,Benzinga reports. The firm currently has a hold rating on the stock.

Several other equities research analysts have also weighed in on the company. Morgan Stanley dropped their target price on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Bank of America lifted their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Piper Sandler upped their target price on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Barclays lifted their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Finally, StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Saturday. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $523.75.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $404.65 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average of $426.75 and a two-hundred day moving average of $432.85. The company has a market cap of $32.79 billion, a P/E ratio of 37.92, a PEG ratio of 3.41 and a beta of 1.50. IDEXX Laboratories has a 52 week low of $356.14 and a 52 week high of $548.88.

Insider Activity

In other news, 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 value of $1,397,820.00. Following the completion of the sale, the director now owns 3,061 shares in the company, valued at $1,426,242.34. This represents a 49.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP George Fennell sold 9,986 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 8,176 shares of the company’s stock, valued at $3,781,645.28. This represents a 54.98 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.11% of the company’s stock.

Institutional Investors Weigh In On IDEXX Laboratories

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Insight Wealth Strategies LLC lifted its stake in IDEXX Laboratories by 230.5% during the fourth quarter. Insight Wealth Strategies LLC now owns 10,096 shares of the company’s stock valued at $4,174,000 after purchasing an additional 7,041 shares during the last quarter. Sax Wealth Advisors LLC boosted its stake in shares of IDEXX Laboratories by 76.3% during the 4th quarter. Sax Wealth Advisors LLC now owns 1,426 shares of the company’s stock worth $590,000 after acquiring an additional 617 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of IDEXX Laboratories by 11.5% in the 4th quarter. Hantz Financial Services Inc. now owns 7,738 shares of the company’s stock worth $3,199,000 after acquiring an additional 800 shares during the last quarter. Paragon Capital Management Inc. raised its position in shares of IDEXX Laboratories by 25.7% during the fourth quarter. Paragon Capital Management Inc. now owns 3,820 shares of the company’s stock worth $1,579,000 after purchasing an additional 782 shares during the period. Finally, Manitou Investment Management Ltd. boosted its position in shares of IDEXX Laboratories by 491.0% in the 4th quarter. Manitou Investment Management Ltd. now owns 52,202 shares of the company’s stock valued at $21,582,000 after purchasing an additional 43,369 shares during the period. 87.84% of the stock is 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.