IDEXX Laboratories (NASDAQ:IDXX) Rating Lowered to “Hold” at StockNews.com

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

A number of other analysts have also weighed in on the stock. Morgan Stanley cut their target price on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. 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. Barclays lifted their price objective 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. Bank of America increased their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Leerink Partners assumed coverage on IDEXX Laboratories in a research note on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, IDEXX Laboratories presently has an average rating of “Moderate Buy” and an average price target of $533.75.

IDEXX Laboratories Trading Up 0.0 %

IDXX opened at $417.71 on Tuesday. The business has a fifty day moving average price of $437.26 and a 200 day moving average price of $443.87. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. IDEXX Laboratories has a 12 month low of $398.50 and a 12 month high of $548.88. The stock has a market capitalization of $33.86 billion, a price-to-earnings ratio of 39.15, a PEG ratio of 3.41 and a beta of 1.39.

Insider Activity at IDEXX Laboratories

In other news, EVP George Fennell sold 9,986 shares of the company’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 completion of the sale, the executive vice president now directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of the 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 sale, the director now owns 3,061 shares of the company’s stock, valued at $1,426,242.34. This trade 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.

Hedge Funds Weigh In On IDEXX Laboratories

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of IDEXX Laboratories in the 4th quarter valued at approximately $412,258,000. Flossbach Von Storch SE lifted its holdings in shares of IDEXX Laboratories by 5,439.3% during the fourth quarter. Flossbach Von Storch SE now owns 473,336 shares of the company’s stock worth $195,696,000 after purchasing an additional 464,791 shares during the period. Alyeska Investment Group L.P. purchased a new position in IDEXX Laboratories in the 4th quarter valued at $156,412,000. William Blair Investment Management LLC increased its stake in IDEXX Laboratories by 701.6% in the 4th quarter. William Blair Investment Management LLC now owns 422,133 shares of the company’s stock valued at $174,527,000 after buying an additional 369,471 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in IDEXX Laboratories by 265.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company’s stock worth $179,867,000 after buying an additional 316,048 shares during the last quarter. Institutional investors and hedge funds 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.