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

StockNews.com cut shares of IDEXX Laboratories (NASDAQ:IDXX) from a buy rating to a hold rating in a research note published on Tuesday morning.

Other equities research analysts also recently issued research reports about the company. Bank of America upped their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Morgan Stanley decreased their price target on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Barclays upped their price objective on 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 IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Leerink Partners initiated coverage on shares of IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price target for the company. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $533.75.

IDEXX Laboratories Stock Performance

IDXX opened at $422.54 on Tuesday. IDEXX Laboratories has a 1-year low of $398.50 and a 1-year high of $548.88. The company has a market cap of $34.25 billion, a price-to-earnings ratio of 39.60, a PEG ratio of 3.41 and a beta of 1.39. The company’s fifty day moving average price is $437.13 and its two-hundred day moving average price is $443.72. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28.

Insider Activity

In other news, Director M Anne Szostak sold 3,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 3,061 shares of the company’s stock, valued at approximately $1,426,242.34. The trade was a 49.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP George Fennell sold 9,986 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 8,176 shares in the company, valued at $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. Company insiders own 2.11% of the company’s stock.

Institutional Trading of IDEXX Laboratories

Several institutional investors and hedge funds have recently made changes to their positions in IDXX. Insight Wealth Strategies LLC boosted its holdings in shares of IDEXX Laboratories by 230.5% in the 4th quarter. Insight Wealth Strategies LLC now owns 10,096 shares of the company’s stock worth $4,174,000 after purchasing an additional 7,041 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of IDEXX Laboratories by 1.8% during the third quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company’s stock worth $1,138,732,000 after acquiring an additional 40,349 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of IDEXX Laboratories in the 3rd quarter worth approximately $1,263,000. Sax Wealth Advisors LLC boosted its stake in shares of IDEXX Laboratories by 76.3% in the 4th quarter. Sax Wealth Advisors LLC now owns 1,426 shares of the company’s stock valued at $590,000 after purchasing an additional 617 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its position in IDEXX Laboratories by 11.5% in the 4th quarter. Hantz Financial Services Inc. now owns 7,738 shares of the company’s stock worth $3,199,000 after purchasing an additional 800 shares during the period. Hedge funds and other institutional investors 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.