IDEXX Laboratories (NASDAQ:IDXX) Stock Rating Upgraded by StockNews.com

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

A number of other research analysts have also weighed in on IDXX. Piper Sandler lifted their price target on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Bank of America increased their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Morgan Stanley cut their price target on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Finally, Leerink Partners initiated coverage on IDEXX Laboratories in a report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price objective for the company. Three 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $533.75.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock opened at $437.11 on Thursday. The stock’s fifty day simple moving average is $435.31 and its 200 day simple moving average is $451.29. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $35.55 billion, a PE ratio of 40.97, a PEG ratio of 3.41 and a beta of 1.37. IDEXX Laboratories has a 12 month low of $398.50 and a 12 month high of $580.18.

Insider Buying and Selling

In related news, Director M Anne Szostak sold 3,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director now directly owns 3,061 shares of the company’s stock, valued at approximately $1,426,242.34. This trade represents a 49.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction 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 $3,781,645.28. This trade 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 corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in IDEXX Laboratories by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 2,297,271 shares of the company’s stock valued at $948,279,000 after purchasing an additional 37,734 shares during the last quarter. Bamco Inc. NY lifted its position in shares of IDEXX Laboratories by 4.3% in the fourth quarter. Bamco Inc. NY now owns 2,005,522 shares of the company’s stock valued at $829,163,000 after buying an additional 82,264 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of IDEXX Laboratories by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock worth $675,259,000 after acquiring an additional 34,305 shares during the period. Invesco Ltd. boosted its stake in shares of IDEXX Laboratories by 6.8% during the 4th quarter. Invesco Ltd. now owns 1,160,988 shares of the company’s stock worth $479,999,000 after acquiring an additional 74,324 shares during the period. Finally, Norges Bank acquired a new position in shares of IDEXX Laboratories during the 4th quarter worth approximately $412,258,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

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.