IDEXX Laboratories (NASDAQ:IDXX) Upgraded at StockNews.com

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

IDXX has been the topic of a number of other reports. Barclays lifted their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Morgan Stanley lowered their price target 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 raised their price objective 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. Finally, Bank of America increased their target price 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. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $533.75.

IDEXX Laboratories Trading Down 4.1 %

Shares of IDEXX Laboratories stock opened at $393.73 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The firm has a market cap of $31.91 billion, a price-to-earnings ratio of 36.90, a price-to-earnings-growth ratio of 3.41 and a beta of 1.50. IDEXX Laboratories has a 52-week low of $393.50 and a 52-week high of $548.88. The company’s 50-day simple moving average is $435.55 and its 200-day simple moving average is $439.31.

Insider Activity

In related news, Director M Anne Szostak sold 3,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 3,061 shares in the company, valued at approximately $1,426,242.34. This trade represents a 49.50 % 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, EVP George Fennell sold 9,986 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now owns 8,176 shares of the company’s stock, 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. Company insiders own 2.11% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IDXX. MassMutual Private Wealth & Trust FSB raised its holdings in IDEXX Laboratories by 117.6% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 407 shares of the company’s stock valued at $171,000 after buying an additional 220 shares during the period. Wellington Management Group LLP lifted its holdings in shares of IDEXX Laboratories by 161.2% during the 4th quarter. Wellington Management Group LLP now owns 195,369 shares of the company’s stock valued at $80,773,000 after acquiring an additional 120,558 shares in the last quarter. 111 Capital purchased a new position in IDEXX Laboratories in the fourth quarter valued at about $866,000. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of IDEXX Laboratories during the fourth quarter worth about $11,226,000. Finally, PKO Investment Management Joint Stock Co purchased a new stake in shares of IDEXX Laboratories in the fourth quarter worth about $1,158,000. 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.