IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Thursday.
Several other brokerages have also recently weighed in on IDXX. 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. Leerink Partners began coverage on IDEXX Laboratories in a research note on Monday, December 2nd. They issued an "outperform" rating and a $500.00 price objective for the company. Bank of America lifted their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Barclays increased 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, Morgan Stanley lowered their target price 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. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $533.75.
Check Out Our Latest Stock Analysis on IDEXX Laboratories
IDEXX Laboratories Stock Performance
NASDAQ:IDXX traded up $0.04 during trading hours on Thursday, reaching $437.15. The company had a trading volume of 690,976 shares, compared to its average volume of 535,414. The firm has a market cap of $35.55 billion, a price-to-earnings ratio of 40.97, a PEG ratio of 3.41 and a beta of 1.37. IDEXX Laboratories has a 52 week low of $398.50 and a 52 week high of $580.18. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. The firm's 50 day moving average price is $435.31 and its 200-day moving average price is $451.12.
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 on 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 completion of the sale, the director now directly owns 3,061 shares of the company's stock, valued at $1,426,242.34. The trade was a 49.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP George Fennell sold 9,986 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $3,781,645.28. This trade represents 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.
Hedge Funds Weigh In On IDEXX Laboratories
A number of hedge funds and other institutional investors have recently modified their holdings of IDXX. Chicago Partners Investment Group LLC lifted its position in shares of IDEXX Laboratories by 16.7% during the third quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company's stock valued at $340,000 after buying an additional 96 shares during the last quarter. National Pension Service boosted its position in IDEXX Laboratories by 7.3% in the third quarter. National Pension Service now owns 185,972 shares of the company's stock valued at $93,957,000 after buying an additional 12,647 shares during the last quarter. Insight Wealth Strategies LLC boosted its holdings in shares of IDEXX Laboratories by 230.5% in the 4th quarter. Insight Wealth Strategies LLC now owns 10,096 shares of the company's stock valued at $4,174,000 after acquiring an additional 7,041 shares during the last quarter. Larson Financial Group LLC boosted its holdings in IDEXX Laboratories by 17,238.5% in the third quarter. Larson Financial Group LLC now owns 2,254 shares of the company's stock valued at $1,139,000 after purchasing an additional 2,241 shares during the last quarter. Finally, Quest Partners LLC grew its holdings in IDEXX Laboratories by 4,059.4% during the third quarter. Quest Partners LLC now owns 2,870 shares of the company's stock worth $1,450,000 after acquiring an additional 2,801 shares during the period. 87.84% of the stock is currently owned by institutional investors.
About IDEXX Laboratories
(
Get Free Report)
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.
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