IDEXX Laboratories (NASDAQ:IDXX) Hits New 12-Month Low - Time to Sell?

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report) hit a new 52-week low during trading on Friday . The company traded as low as $393.80 and last traded at $399.79, with a volume of 363147 shares trading hands. The stock had previously closed at $410.76.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IDXX. Bank of America raised 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. Barclays upped their price target on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Piper Sandler boosted their target price on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Morgan Stanley reduced 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. Finally, StockNews.com upgraded IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Friday, April 4th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $533.75.

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IDEXX Laboratories Stock Up 10.0 %

The stock has a 50 day moving average price of $432.29 and a 200 day moving average price of $436.78. The company has a market cap of $32.18 billion, a P/E ratio of 37.22, a P/E/G ratio of 3.41 and a beta of 1.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31.

Insider Activity

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of IDEXX Laboratories stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $462.53, for a total value of $4,618,824.58. Following the transaction, the executive vice president now owns 8,176 shares in the company, valued at approximately $3,781,645.28. The trade was a 54.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of the company's stock in a transaction 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 directly owns 3,061 shares in the company, valued at $1,426,242.34. This represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.11% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in IDXX. RFG Advisory LLC acquired a new stake in IDEXX Laboratories in the 1st quarter worth approximately $2,692,000. HBW Advisory Services LLC lifted its holdings in shares of IDEXX Laboratories by 3.0% during the 1st quarter. HBW Advisory Services LLC now owns 2,267 shares of the company's stock worth $952,000 after acquiring an additional 67 shares during the period. Merit Financial Group LLC boosted its stake in IDEXX Laboratories by 148.9% in the 1st quarter. Merit Financial Group LLC now owns 1,894 shares of the company's stock valued at $795,000 after buying an additional 1,133 shares in the last quarter. Arlington Financial Advisors LLC grew its stake in IDEXX Laboratories by 11.8% during the first quarter. Arlington Financial Advisors LLC now owns 615 shares of the company's stock worth $258,000 after buying an additional 65 shares during the last quarter. Finally, NBC Securities Inc. bought a new stake in shares of IDEXX Laboratories during the first quarter worth $221,000. 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.