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

StockNews.com lowered shares of IDEXX Laboratories (NASDAQ:IDXX - Free Report) from a buy rating to a hold rating in a report issued on Tuesday.

Several other brokerages have also recently weighed in on IDXX. Morgan Stanley reduced 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 lifted their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Bank of America increased their price target 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. Leerink Partnrs raised shares of IDEXX Laboratories to a "strong-buy" rating in a report on Monday, December 2nd. Finally, Leerink Partners initiated coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They set an "outperform" rating and a $500.00 target price on the stock. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $533.75.

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IDEXX Laboratories Stock Performance

NASDAQ IDXX traded up $4.83 on Tuesday, reaching $422.54. 998,880 shares of the company's stock traded hands, compared to its average volume of 558,123. The stock has a 50 day moving average price of $437.13 and a 200-day moving average price of $443.72. The firm has a market cap of $34.25 billion, a price-to-earnings ratio of 39.60, a P/E/G ratio of 3.41 and a beta of 1.39. IDEXX Laboratories has a fifty-two week low of $398.50 and a fifty-two week high of $548.88. 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 at IDEXX Laboratories

In related news, EVP George Fennell sold 9,986 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was 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 approximately $3,781,645.28. The trade was a 54.98 % 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, Director M Anne Szostak sold 3,000 shares of the firm'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 owns 3,061 shares in the company, valued at $1,426,242.34. The trade was a 49.50 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On IDEXX Laboratories

Hedge funds have recently modified their holdings of the business. Insight Wealth Strategies LLC boosted its holdings in shares of IDEXX Laboratories by 230.5% during 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 during the last quarter. Geode Capital Management LLC lifted its position in 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 buying an additional 40,349 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in IDEXX Laboratories during the third quarter worth $1,263,000. Sax Wealth Advisors LLC grew its holdings in 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 buying an additional 617 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its stake in shares of 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 acquiring an additional 800 shares during the last quarter. 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.