IDEXX Laboratories (NASDAQ:IDXX) Stock Rating Lowered by StockNews.com

IDEXX Laboratories (NASDAQ:IDXX) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other analysts also recently issued reports on IDXX. Piper Sandler raised their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Barclays lifted their price target on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Bank of America lifted their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Morgan Stanley decreased 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 note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $533.75.

IDEXX Laboratories Stock Up 2.2 %

Shares of NASDAQ IDXX opened at $415.30 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 company has a market cap of $33.78 billion, a P/E ratio of 38.92, a PEG ratio of 3.41 and a beta of 1.39. IDEXX Laboratories has a 1 year low of $398.50 and a 1 year high of $548.88. The firm has a 50-day simple moving average of $438.03 and a two-hundred day simple moving average of $446.76.

Insider Activity at IDEXX Laboratories

In related news, EVP George Fennell sold 9,986 shares of IDEXX Laboratories stock in a transaction that occurred 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 transaction, the executive vice president now directly 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories 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 transaction, the director now directly owns 3,061 shares in the company, valued at approximately $1,426,242.34. The trade was a 49.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On IDEXX Laboratories

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