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

StockNews.com downgraded shares of IDEXX Laboratories (NASDAQ:IDXX) from a buy rating to a hold rating in a research note released on Friday.

Several other brokerages have also recently commented on IDXX. Barclays lifted their price target 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 Partners started coverage on shares of IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price target for the company. Piper Sandler lifted their price target on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Morgan Stanley lowered their price target 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, Bank of America boosted their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $533.75.

IDEXX Laboratories Stock Up 0.3 %

Shares of NASDAQ:IDXX opened at $430.12 on Friday. IDEXX Laboratories has a one year low of $398.50 and a one year high of $562.25. The company has a 50 day moving average of $437.37 and a 200-day moving average of $449.09. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. The stock 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, Director M Anne Szostak sold 3,000 shares of the business’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 sale, the director now owns 3,061 shares of the company’s stock, valued at $1,426,242.34. The trade was a 49.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP George Fennell sold 9,986 shares of the business’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 completion of the sale, the executive vice president now directly owns 8,176 shares in the company, valued at approximately $3,781,645.28. This represents a 54.98 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.11% of the company’s stock.

Institutional Trading of IDEXX Laboratories

Several institutional investors and hedge funds have recently added to or reduced their stakes in IDXX. Norges Bank bought a new stake in IDEXX Laboratories during the fourth quarter worth $412,258,000. Flossbach Von Storch SE raised its position in 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 acquiring an additional 464,791 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in IDEXX Laboratories during the fourth quarter worth $156,412,000. William Blair Investment Management LLC raised its position in IDEXX Laboratories by 701.6% during the fourth quarter. William Blair Investment Management LLC now owns 422,133 shares of the company’s stock worth $174,527,000 after acquiring an additional 369,471 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in IDEXX Laboratories by 265.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company’s stock worth $179,867,000 after acquiring an additional 316,048 shares in the last quarter. 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.