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

StockNews.com downgraded shares of IDEXX Laboratories (NASDAQ:IDXX - Free Report) from a buy rating to a hold rating in a research note released on Saturday.

Several other analysts have also recently issued reports on IDXX. Leerink Partnrs raised shares of IDEXX Laboratories to a "strong-buy" rating in a research note on Monday, December 2nd. Morgan Stanley lowered their price objective on shares of IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. Barclays boosted their price objective on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Piper Sandler boosted their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Finally, Bank of America upped 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. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, IDEXX Laboratories currently has an average rating of "Moderate Buy" and an average price target of $533.75.

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IDEXX Laboratories Trading Down 0.7 %

Shares of NASDAQ IDXX traded down $2.84 during trading on Friday, hitting $419.52. 463,843 shares of the company traded hands, compared to its average volume of 548,750. IDEXX Laboratories has a 1 year low of $398.50 and a 1 year high of $548.88. The company has a 50-day moving average price of $437.89 and a 200-day moving average price of $446.30. The firm has a market capitalization of $34.12 billion, a P/E ratio of 39.32, a P/E/G ratio of 3.41 and a beta of 1.39. The company has a quick ratio of 0.95, a current ratio of 1.31 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 company'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 transaction, the director now directly owns 3,061 shares of the company's stock, valued at $1,426,242.34. This represents a 49.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP George Fennell sold 9,986 shares of the company's stock in a transaction dated Monday, February 10th. The shares were 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 owns 8,176 shares in the company, valued at approximately $3,781,645.28. This trade represents a 54.98 % 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

Institutional investors have recently modified their holdings of the stock. FSA Wealth Management LLC acquired a new stake in shares of IDEXX Laboratories in the 3rd quarter valued at about $25,000. Hurley Capital LLC acquired a new stake in shares of IDEXX Laboratories in the 4th quarter valued at about $29,000. Rialto Wealth Management LLC acquired a new stake in IDEXX Laboratories during the fourth quarter worth about $30,000. Retirement Wealth Solutions LLC acquired a new stake in IDEXX Laboratories during the fourth quarter worth about $31,000. Finally, Colonial Trust Co SC raised its stake in IDEXX Laboratories by 84.8% during the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company's stock worth $35,000 after acquiring an additional 39 shares during the period. Institutional investors and hedge funds own 87.84% of the company's stock.

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.