IDEXX Laboratories (NASDAQ:IDXX) Given New $535.00 Price Target at Bank of America

IDEXX Laboratories (NASDAQ:IDXX) had its price target boosted by research analysts at Bank of America from $475.00 to $535.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 14.06% from the stock’s current price.

A number of other brokerages have also issued reports on IDXX. Leerink Partners started coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price objective for the company. Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Barclays cut their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, Morgan Stanley lowered their price target on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. 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’s stock. According to data from MarketBeat, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $519.50.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock opened at $469.04 on Tuesday. The company’s 50 day moving average price is $424.12 and its two-hundred day moving average price is $453.55. The firm has a market capitalization of $38.41 billion, a P/E ratio of 45.23, a P/E/G ratio of 3.64 and a beta of 1.37. IDEXX Laboratories has a fifty-two week low of $398.50 and a fifty-two week high of $583.39. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03.

Insider Activity

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the sale, the director now owns 905 shares in the company, valued at approximately $380,498.20. The trade was a 27.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.18% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. FSA Wealth Management LLC acquired a new position in IDEXX Laboratories during the 3rd quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of IDEXX Laboratories by 5,700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after buying an additional 57 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of IDEXX Laboratories during the fourth quarter valued at approximately $31,000. Mowery & Schoenfeld Wealth Management LLC raised its position in IDEXX Laboratories by 750.0% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock valued at $34,000 after buying an additional 60 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in IDEXX Laboratories during the 3rd quarter valued at $37,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

About IDEXX Laboratories

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.