IDEXX Laboratories (NASDAQ:IDXX) Hits New 52-Week Low - Time to Sell?

IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report)'s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $356.14 and last traded at $397.10, with a volume of 2190304 shares changing hands. The stock had previously closed at $361.04.

Analyst Upgrades and Downgrades

IDXX has been the topic of several research analyst reports. Morgan Stanley decreased their price target on shares of IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating on the stock 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 stock an "overweight" rating in a research report on Tuesday, February 4th. Bank of America raised their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Stifel Nicolaus lowered their price objective on IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating on the stock in a research report on Monday. Finally, Piper Sandler lifted their price target on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $523.75.

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IDEXX Laboratories Stock Down 0.5 %

The firm has a market capitalization of $32.62 billion, a price-to-earnings ratio of 37.73, a P/E/G ratio of 3.41 and a beta of 1.50. The firm has a fifty day moving average price of $426.75 and a 200 day moving average price of $432.85. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 3,000 shares of the firm's stock in a transaction dated 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 sale, the director now owns 3,061 shares in the company, valued at approximately $1,426,242.34. This trade represents a 49.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP George Fennell sold 9,986 shares of the company'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 transaction, the executive vice president now owns 8,176 shares in the company, valued at $3,781,645.28. The trade was a 54.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.11% of the company's stock.

Institutional Trading of IDEXX Laboratories

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. United Capital Financial Advisors LLC boosted its stake in shares of IDEXX Laboratories by 0.9% in the 4th quarter. United Capital Financial Advisors LLC now owns 2,446 shares of the company's stock valued at $1,011,000 after purchasing an additional 22 shares during the last quarter. Cranbrook Wealth Management LLC boosted its stake in IDEXX Laboratories by 7.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company's stock valued at $158,000 after acquiring an additional 25 shares during the last quarter. Gabelli Funds LLC grew its holdings in IDEXX Laboratories by 5.3% during the 4th quarter. Gabelli Funds LLC now owns 500 shares of the company's stock worth $207,000 after acquiring an additional 25 shares during the period. Perigon Wealth Management LLC raised its position in shares of IDEXX Laboratories by 1.8% during the 4th quarter. Perigon Wealth Management LLC now owns 1,474 shares of the company's stock valued at $632,000 after acquiring an additional 26 shares during the last quarter. Finally, Summit Trail Advisors LLC raised its position in shares of IDEXX Laboratories by 3.3% during the 4th quarter. Summit Trail Advisors LLC now owns 810 shares of the company's stock valued at $335,000 after acquiring an additional 26 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.