IDEXX Laboratories (NASDAQ:IDXX) Raised to Buy at StockNews.com

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Friday.

Several other research firms have also recently commented on IDXX. Piper Sandler lifted their target price on 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 lowered their target price on 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 upped their price objective 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. Finally, Bank of America raised their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, IDEXX Laboratories presently has a consensus rating of "Moderate Buy" and an average target price of $533.75.

IDEXX Laboratories Price Performance

IDXX traded up $23.68 during trading on Friday, hitting $384.72. The company's stock had a trading volume of 837,837 shares, compared to its average volume of 603,039. IDEXX Laboratories has a 12 month low of $353.94 and a 12 month high of $548.88. The stock has a market capitalization of $31.18 billion, a price-to-earnings ratio of 36.13, a price-to-earnings-growth ratio of 3.41 and a beta of 1.50. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The firm's 50 day moving average price is $432.29 and its two-hundred day moving average price is $436.78.

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Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction dated Friday, February 7th. The stock was 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP George Fennell sold 9,986 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 8,176 shares of the company's stock, valued at approximately $3,781,645.28. The trade was a 54.98 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is owned by company insiders.

Institutional Trading of IDEXX Laboratories

Institutional investors have recently bought and sold shares of the company. NBC Securities Inc. acquired a new stake in IDEXX Laboratories during the first quarter worth approximately $221,000. Baker Tilly Wealth Management LLC acquired a new position in shares of IDEXX Laboratories during the 1st quarter valued at $242,000. Czech National Bank boosted its stake in IDEXX Laboratories by 5.9% during the first quarter. Czech National Bank now owns 18,807 shares of the company's stock worth $7,898,000 after acquiring an additional 1,052 shares in the last quarter. Rhumbline Advisers grew its holdings in IDEXX Laboratories by 4.1% in the first quarter. Rhumbline Advisers now owns 183,195 shares of the company's stock worth $76,933,000 after purchasing an additional 7,225 shares during the period. Finally, Retirement Wealth Solutions LLC increased its stake in IDEXX Laboratories by 40.0% in the first quarter. Retirement Wealth Solutions LLC now owns 105 shares of the company's stock valued at $44,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 87.84% of the company's stock.

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.