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

StockNews.com lowered shares of IDEXX Laboratories (NASDAQ:IDXXFree Report) from a buy rating to a hold rating in a research report released on Wednesday morning.

IDXX has been the topic of a number of other reports. Stifel Nicolaus reduced their target price on shares of IDEXX Laboratories from $520.00 to $510.00 and set a hold rating on the stock in a report on Monday, June 24th. Morgan Stanley reduced their target price on shares of IDEXX Laboratories from $620.00 to $596.00 and set an overweight rating on the stock in a report on Tuesday, May 14th. William Blair reissued an outperform rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Finally, Barclays dropped their price objective on shares of IDEXX Laboratories from $655.00 to $570.00 and set an overweight rating on the stock in a research report on Thursday, May 2nd. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $586.63.

Get Our Latest Stock Analysis on IDXX

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $483.39 on Wednesday. The firm has a market cap of $39.92 billion, a P/E ratio of 46.79, a P/E/G ratio of 3.95 and a beta of 1.32. IDEXX Laboratories has a one year low of $372.50 and a one year high of $583.39. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.16 and a current ratio of 1.57. The firm’s 50 day moving average price is $499.93 and its 200-day moving average price is $523.00.

IDEXX Laboratories (NASDAQ:IDXXGet Free Report) last released its earnings results on Wednesday, May 1st. The company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. The company had revenue of $964.10 million for the quarter, compared to analyst estimates of $965.43 million. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. As a group, equities research analysts predict that IDEXX Laboratories will post 11.03 EPS for the current year.

Insider Activity at IDEXX Laboratories

In related news, Director Bruce L. Claflin sold 200 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $540.80, for a total value of $108,160.00. Following the transaction, the director now directly owns 161 shares of the company’s stock, valued at approximately $87,068.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.18% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in IDEXX Laboratories during the 4th quarter worth $512,190,000. International Assets Investment Management LLC grew its position in IDEXX Laboratories by 51,631.3% during the 4th quarter. International Assets Investment Management LLC now owns 547,834 shares of the company’s stock worth $304,075,000 after purchasing an additional 546,775 shares during the last quarter. Capital Research Global Investors purchased a new position in IDEXX Laboratories during the 4th quarter worth $135,910,000. TD Asset Management Inc grew its position in IDEXX Laboratories by 178.8% during the 4th quarter. TD Asset Management Inc now owns 260,008 shares of the company’s stock worth $144,317,000 after purchasing an additional 166,751 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in IDEXX Laboratories during the 4th quarter worth $78,001,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

About IDEXX Laboratories

(Get Free Report)

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.

Further Reading

Analyst Recommendations for IDEXX Laboratories (NASDAQ:IDXX)

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