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

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

Other equities analysts have also issued reports about the stock. Morgan Stanley dropped 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. Barclays increased 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. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Piper Sandler increased their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Finally, Bank of America increased their price objective on 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 assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $533.75.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock opened at $437.11 on Thursday. The firm has a market capitalization of $35.55 billion, a P/E ratio of 40.97, a P/E/G ratio of 3.41 and a beta of 1.37. IDEXX Laboratories has a 52 week low of $398.50 and a 52 week high of $583.39. 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’s 50 day moving average is $435.31 and its two-hundred day moving average is $451.54.

Insider Buying and Selling

In related news, Director M Anne Szostak sold 3,000 shares of the stock in a transaction on Friday, February 7th. The stock was 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 directly owns 3,061 shares of the company’s stock, valued at $1,426,242.34. This trade represents a 49.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP George Fennell sold 9,986 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $462.53, for a total value of $4,618,824.58. Following the sale, the executive vice president now directly owns 8,176 shares of the company’s stock, valued at approximately $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. Corporate insiders own 2.11% of the company’s stock.

Institutional Investors Weigh In On IDEXX Laboratories

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. United Capital Financial Advisors LLC lifted its holdings in IDEXX Laboratories by 0.9% in the fourth quarter. United Capital Financial Advisors LLC now owns 2,446 shares of the company’s stock valued at $1,011,000 after acquiring an additional 22 shares during the period. Angeles Wealth Management LLC lifted its holdings in IDEXX Laboratories by 2.4% in the third quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company’s stock valued at $545,000 after acquiring an additional 25 shares during the period. Cranbrook Wealth Management LLC lifted its holdings in IDEXX Laboratories by 7.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock valued at $158,000 after acquiring an additional 25 shares during the period. Gabelli Funds LLC lifted its holdings in IDEXX Laboratories by 5.3% in the fourth quarter. Gabelli Funds LLC now owns 500 shares of the company’s stock valued at $207,000 after acquiring an additional 25 shares during the period. Finally, Perigon Wealth Management LLC lifted its holdings in IDEXX Laboratories by 1.8% in the fourth quarter. Perigon Wealth Management LLC now owns 1,474 shares of the company’s stock valued at $632,000 after acquiring an additional 26 shares during the period. 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.