IDEXX Laboratories (NASDAQ:IDXX) Sets New 1-Year Low – Here’s Why

IDEXX Laboratories, Inc. (NASDAQ:IDXX) hit a new 52-week low during mid-day trading on Thursday . The company 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.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Saturday. Morgan Stanley lowered their price target on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Bank of America lifted their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Piper Sandler increased their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Finally, Barclays lifted their price target 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. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $533.75.

IDEXX Laboratories Trading Up 2.4 %

The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. The business’s 50-day moving average is $428.03 and its two-hundred day moving average is $434.13. The firm has a market cap of $31.68 billion, a P/E ratio of 36.64, a P/E/G ratio of 3.41 and a beta of 1.50.

Insider Activity

In related news, Director M Anne Szostak sold 3,000 shares of the business’s stock in a transaction on Friday, February 7th. The shares were 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 in the company, valued at approximately $1,426,242.34. The trade was a 49.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 8,176 shares in the company, valued at $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. 2.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IDEXX Laboratories

A number of institutional investors have recently bought and sold shares of the business. Pine Haven Investment Counsel Inc boosted its stake in shares of IDEXX Laboratories by 7.4% during the 1st quarter. Pine Haven Investment Counsel Inc now owns 1,155 shares of the company’s stock worth $485,000 after acquiring an additional 80 shares during the period. Gateway Investment Advisers LLC boosted its position in IDEXX Laboratories by 7.7% during the first quarter. Gateway Investment Advisers LLC now owns 13,296 shares of the company’s stock worth $5,584,000 after purchasing an additional 947 shares during the period. Blue Zone Wealth Advisors LLC increased its holdings in shares of IDEXX Laboratories by 18.0% in the first quarter. Blue Zone Wealth Advisors LLC now owns 11,301 shares of the company’s stock valued at $4,746,000 after purchasing an additional 1,727 shares during the last quarter. KFG Wealth Management LLC raised its position in shares of IDEXX Laboratories by 27.4% in the first quarter. KFG Wealth Management LLC now owns 1,391 shares of the company’s stock valued at $584,000 after purchasing an additional 299 shares during the period. Finally, Procyon Advisors LLC lifted its stake in shares of IDEXX Laboratories by 50.3% during the 1st quarter. Procyon Advisors LLC now owns 2,119 shares of the company’s stock worth $890,000 after buying an additional 709 shares during the last quarter. 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.