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 Friday.

A number of other brokerages have also weighed in on IDXX. Barclays upped their target price 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. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Bank of America increased 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. Morgan Stanley lowered their price objective on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Finally, Piper Sandler increased their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Four 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 stock. According to data from MarketBeat, the stock presently 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 $430.12 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The firm has a fifty day moving average price of $437.37 and a 200 day moving average price of $449.72. IDEXX Laboratories has a fifty-two week low of $398.50 and a fifty-two week high of $574.94. The firm has a market cap of $34.98 billion, a price-to-earnings ratio of 40.31, a P/E/G ratio of 3.41 and a beta of 1.39.

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. United Capital Financial Advisors LLC increased its stake in IDEXX Laboratories by 0.9% in the 4th quarter. United Capital Financial Advisors LLC now owns 2,446 shares of the company’s stock worth $1,011,000 after buying an additional 22 shares during the period. Cranbrook Wealth Management LLC increased its stake in IDEXX Laboratories by 7.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock worth $158,000 after buying an additional 25 shares during the period. Gabelli Funds LLC increased its stake in IDEXX Laboratories by 5.3% in the 4th quarter. Gabelli Funds LLC now owns 500 shares of the company’s stock worth $207,000 after buying an additional 25 shares during the period. Perigon Wealth Management LLC increased its stake in IDEXX Laboratories by 1.8% in the 4th quarter. Perigon Wealth Management LLC now owns 1,474 shares of the company’s stock worth $632,000 after buying an additional 26 shares during the period. Finally, Summit Trail Advisors LLC increased its stake in IDEXX Laboratories by 3.3% in the 4th quarter. Summit Trail Advisors LLC now owns 810 shares of the company’s stock worth $335,000 after buying an additional 26 shares during the period. Hedge funds and other institutional investors 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.