StockNews.com Downgrades IDEXX Laboratories (NASDAQ:IDXX) to Hold

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

IDXX has been the topic of several other reports. Bank of America increased their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Piper Sandler raised their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Morgan Stanley decreased their price target 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, Barclays upped their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, IDEXX Laboratories has an average rating of “Moderate Buy” and a consensus price target of $523.75.

IDEXX Laboratories Stock Up 3.5 %

IDXX stock opened at $404.65 on Friday. 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 firm’s fifty day simple moving average is $426.75 and its 200-day simple moving average is $432.85. IDEXX Laboratories has a 12 month low of $356.14 and a 12 month high of $548.88. The company has a market capitalization of $32.79 billion, a P/E ratio of 37.92, a price-to-earnings-growth ratio of 3.41 and a beta of 1.50.

Insider Activity

In other news, Director M Anne Szostak sold 3,000 shares of the business’s stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP George Fennell sold 9,986 shares of the firm’s stock in a transaction dated 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 directly owns 8,176 shares in the company, valued at $3,781,645.28. This represents a 54.98 % decrease in their ownership of the stock. 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

A number of hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of IDEXX Laboratories in the fourth quarter worth approximately $412,258,000. GAMMA Investing LLC boosted its stake in IDEXX Laboratories by 59,810.7% during the 1st quarter. GAMMA Investing LLC now owns 918,431 shares of the company’s stock worth $3,856,950,000 after purchasing an additional 916,898 shares during the last quarter. Flossbach Von Storch SE boosted its stake in IDEXX Laboratories by 5,439.3% during the 4th 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 last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of IDEXX Laboratories during the fourth quarter worth $156,412,000. Finally, William Blair Investment Management LLC raised its position in shares of IDEXX Laboratories by 701.6% in the fourth 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 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.