Stifel Nicolaus Issues Pessimistic Forecast for IDEXX Laboratories (NASDAQ:IDXX) Stock Price

IDEXX Laboratories (NASDAQ:IDXX - Free Report) had its price target reduced by Stifel Nicolaus from $450.00 to $420.00 in a research note published on Monday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Several other equities analysts have also recently commented on IDXX. Piper Sandler boosted their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Bank of America raised their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Morgan Stanley dropped their target price on shares of 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 increased their price target on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Finally, StockNews.com downgraded shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Saturday, April 12th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $523.75.

IDEXX Laboratories Stock Performance

IDXX stock traded up $9.34 during midday trading on Monday, reaching $411.72. 965,481 shares of the company's stock traded hands, compared to its average volume of 623,837. The company has a 50-day moving average price of $422.37 and a two-hundred day moving average price of $431.22. IDEXX Laboratories has a 52 week low of $356.14 and a 52 week high of $548.88. The firm has a market capitalization of $33.37 billion, a PE ratio of 38.59, a price-to-earnings-growth 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, Director M Anne Szostak sold 3,000 shares of the business's stock in a transaction 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 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 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 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 sale, the executive vice president now 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. Insiders own 0.98% of the company's stock.

Institutional Investors Weigh In On IDEXX Laboratories

Institutional investors have recently modified their holdings of the stock. Clarius Group LLC lifted its position in IDEXX Laboratories by 9.7% in the 1st quarter. Clarius Group LLC now owns 781 shares of the company's stock valued at $328,000 after acquiring an additional 69 shares in the last quarter. Birch Hill Investment Advisors LLC boosted its stake in shares of IDEXX Laboratories by 4.4% during the 1st quarter. Birch Hill Investment Advisors LLC now owns 1,910 shares of the company's stock worth $802,000 after acquiring an additional 80 shares during the last quarter. PKO Investment Management Joint Stock Co raised its stake in IDEXX Laboratories by 17.9% during the 1st quarter. PKO Investment Management Joint Stock Co now owns 3,300 shares of the company's stock worth $1,386,000 after acquiring an additional 500 shares during the period. Cardinal Capital Management boosted its stake in shares of IDEXX Laboratories by 1.0% in the first quarter. Cardinal Capital Management now owns 14,089 shares of the company's stock worth $5,917,000 after acquiring an additional 135 shares during the period. Finally, Chicago Capital LLC increased its holdings in IDEXX Laboratories by 1.3% in the 1st quarter. Chicago Capital LLC now owns 87,299 shares of the company's stock valued at $36,661,000 after acquiring an additional 1,115 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

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.