IDEXX Laboratories (NASDAQ:IDXX) Sets New 52-Week Low – Here’s What Happened

IDEXX Laboratories, Inc. (NASDAQ:IDXX) hit a new 52-week low on Friday . The company traded as low as $393.80 and last traded at $399.79, with a volume of 363147 shares traded. The stock had previously closed at $410.76.

Analyst Ratings Changes

A number of research firms have commented on IDXX. Bank of America lifted 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. Barclays boosted their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Friday. Morgan Stanley cut their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Finally, Piper Sandler increased their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $533.75.

IDEXX Laboratories Trading Down 4.1 %

The stock has a 50-day moving average price of $435.55 and a two-hundred day moving average price of $439.81. The stock has a market capitalization of $31.91 billion, a PE ratio of 36.90, a PEG ratio of 3.41 and a beta of 1.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31.

Insider Transactions at IDEXX Laboratories

In related news, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the completion of the transaction, the executive vice president now owns 8,176 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction on Friday, February 7th. The shares were sold at an average price of $465.94, for a total transaction of $1,397,820.00. Following the completion of the sale, the director now owns 3,061 shares in the company, valued at approximately $1,426,242.34. This represents a 49.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.11% of the company’s stock.

Institutional Investors Weigh In On IDEXX Laboratories

Several institutional investors have recently modified their holdings of the stock. Benjamin Edwards Inc. boosted its stake in shares of IDEXX Laboratories by 661.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 1,880 shares of the company’s stock worth $950,000 after purchasing an additional 1,633 shares during the period. Centiva Capital LP bought a new position in IDEXX Laboratories in the 3rd quarter worth about $211,000. Janus Henderson Group PLC increased its position in shares of IDEXX Laboratories by 0.4% during the third quarter. Janus Henderson Group PLC now owns 11,834 shares of the company’s stock worth $5,978,000 after acquiring an additional 53 shares during the period. IHT Wealth Management LLC raised its stake in shares of IDEXX Laboratories by 32.9% during the third quarter. IHT Wealth Management LLC now owns 666 shares of the company’s stock valued at $335,000 after acquiring an additional 165 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in shares of IDEXX Laboratories by 46.7% in the third quarter. Quantinno Capital Management LP now owns 14,756 shares of the company’s stock valued at $7,455,000 after purchasing an additional 4,695 shares during the period. 87.84% of the stock is owned by institutional investors.

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.