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

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

Other research analysts also recently issued reports about the company. Morgan Stanley lowered their price target on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Bank of America raised their price target 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. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Barclays raised their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Finally, Leerink Partners initiated coverage on shares of IDEXX Laboratories in a research report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 target price for the company. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $533.75.

IDEXX Laboratories Stock Performance

IDXX stock opened at $423.60 on Tuesday. The stock’s 50 day simple moving average is $437.38 and its 200 day simple moving average is $444.44. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. 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 $34.34 billion, a PE ratio of 39.70, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39.

Insider Buying and Selling at IDEXX Laboratories

In related news, EVP George Fennell sold 9,986 shares of IDEXX Laboratories 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 transaction, the executive vice president now directly owns 8,176 shares in the company, valued at approximately $3,781,645.28. The trade was a 54.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $1,397,820.00. Following the sale, the director now directly owns 3,061 shares of the company’s stock, valued at $1,426,242.34. This represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in IDXX. Norges Bank bought a new stake in IDEXX Laboratories during the 4th quarter worth approximately $412,258,000. Flossbach Von Storch SE increased its stake in shares of IDEXX Laboratories by 5,439.3% in 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 in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of IDEXX Laboratories during the 4th quarter valued at $156,412,000. William Blair Investment Management LLC lifted its stake in shares of IDEXX Laboratories by 701.6% during 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 in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of IDEXX Laboratories by 265.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company’s stock valued at $179,867,000 after buying an additional 316,048 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other 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.