IDEXX Laboratories, Inc. (NASDAQ:IDXX) Receives $533.75 Consensus Price Target from Analysts

IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report) has received a consensus rating of "Moderate Buy" from the ten research firms that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $533.75.

IDXX has been the topic of a number of analyst reports. StockNews.com downgraded shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th. 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 report on Tuesday, February 4th. Morgan Stanley lowered their price objective 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 lifted their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Finally, Piper Sandler increased their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a report on Monday, February 10th.

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IDEXX Laboratories Trading Down 4.1 %

Shares of IDXX traded down $17.03 during midday trading on Thursday, reaching $393.73. The company had a trading volume of 1,635,645 shares, compared to its average volume of 592,305. IDEXX Laboratories has a 1-year low of $390.11 and a 1-year high of $548.88. 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 has a 50 day simple moving average of $436.39 and a 200-day simple moving average of $441.13. The stock has a market cap of $31.91 billion, a PE ratio of 36.90, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $465.94, for a total value 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 $1,426,242.34. This trade represents a 49.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP George Fennell sold 9,986 shares of the company's 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 in the company, valued at $3,781,645.28. This represents a 54.98 % decrease in their position. The disclosure for this sale can be found here. Company 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 modified their holdings of the company. FMR LLC raised its stake in IDEXX Laboratories by 3.6% in the third quarter. FMR LLC now owns 290,861 shares of the company's stock valued at $146,949,000 after buying an additional 10,017 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of IDEXX Laboratories in the 3rd quarter valued at about $341,000. Public Sector Pension Investment Board raised its position in shares of IDEXX Laboratories by 16.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,578 shares of the company's stock worth $1,808,000 after acquiring an additional 500 shares in the last quarter. Verition Fund Management LLC lifted its stake in IDEXX Laboratories by 20.5% during the third quarter. Verition Fund Management LLC now owns 6,508 shares of the company's stock worth $3,288,000 after purchasing an additional 1,108 shares during the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in IDEXX Laboratories during the third quarter worth approximately $1,428,000. 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.