IDEXX Laboratories (NASDAQ:IDXX) Downgraded by StockNews.com to “Hold”

IDEXX Laboratories (NASDAQ:IDXX) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Several other research analysts also recently weighed in on the stock. Barclays decreased their target price on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Morgan Stanley reduced their price objective on shares of IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 14th. Finally, Stifel Nicolaus reduced their price objective on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $586.63.

IDEXX Laboratories Price Performance

IDXX opened at $487.78 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 0.40. IDEXX Laboratories has a 52-week low of $372.50 and a 52-week high of $583.39. The company has a 50 day moving average of $500.17 and a two-hundred day moving average of $522.75. The company has a market cap of $40.29 billion, a P/E ratio of 47.22, a P/E/G ratio of 3.95 and a beta of 1.32.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Wednesday, May 1st. The company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.13. The company had revenue of $964.10 million during the quarter, compared to the consensus estimate of $965.43 million. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. On average, analysts expect that IDEXX Laboratories will post 11.03 earnings per share for the current year.

Insider Transactions at IDEXX Laboratories

In other news, Director Bruce L. Claflin sold 200 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $540.80, for a total value of $108,160.00. Following the transaction, the director now directly owns 161 shares in the company, valued at approximately $87,068.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.18% of the company’s stock.

Institutional Trading of IDEXX Laboratories

Hedge funds have recently bought and sold shares of the company. Valley National Advisers Inc. lifted its position in IDEXX Laboratories by 84.6% in the 4th quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock valued at $26,000 after purchasing an additional 22 shares during the last quarter. Riverview Trust Co bought a new stake in shares of IDEXX Laboratories during the 1st quarter worth about $26,000. Crewe Advisors LLC bought a new stake in shares of IDEXX Laboratories during the 1st quarter worth about $26,000. Institutional & Family Asset Management LLC bought a new stake in shares of IDEXX Laboratories during the 2nd quarter worth about $28,000. Finally, DSM Capital Partners LLC bought a new stake in shares of IDEXX Laboratories during the 4th quarter worth about $33,000. 87.84% of the stock is currently owned by institutional investors.

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.