Analysts Set IDEXX Laboratories, Inc. (NASDAQ:IDXX) Price Target at $533.75

IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report) has been given an average recommendation of "Moderate Buy" by the ten ratings firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $533.75.

A number of equities research analysts have recently issued reports on IDXX shares. Bank of America upped their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Piper Sandler increased their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Leerink Partnrs upgraded IDEXX Laboratories to a "strong-buy" rating in a report on Monday, December 2nd. Barclays lifted their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Finally, Morgan Stanley dropped their target price on IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th.

IDEXX Laboratories Price Performance

IDXX stock traded down $15.23 during trading on Wednesday, hitting $444.53. The stock had a trading volume of 553,751 shares, compared to its average volume of 753,210. IDEXX Laboratories has a twelve month low of $398.50 and a twelve month high of $583.39. The company's 50-day moving average price is $430.95 and its two-hundred day moving average price is $453.11. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.03. The stock has a market capitalization of $36.40 billion, a P/E ratio of 41.66, a PEG ratio of 3.47 and a beta of 1.37.

Insiders Place Their Bets

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the business's stock in a transaction dated 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $1,397,820.00. Following the completion of the transaction, the director now directly 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 position. The disclosure for this sale can be found here. Insiders have sold 13,330 shares of company stock worth $6,161,276 over the last ninety days. Corporate insiders own 2.11% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of IDXX. FSA Wealth Management LLC acquired a new position in shares of IDEXX Laboratories during the third quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of IDEXX Laboratories by 5,700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company's stock valued at $29,000 after purchasing an additional 57 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of 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 purchasing an additional 60 shares in the last quarter. Hurley Capital LLC purchased a new stake in shares of IDEXX Laboratories during the 4th quarter worth $29,000. Finally, Rialto Wealth Management LLC acquired a new position in shares of IDEXX Laboratories during the fourth quarter worth $30,000. 87.84% of the stock is owned by institutional investors and hedge funds.

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.