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

IDEXX Laboratories (NASDAQ:IDXX) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

A number of other brokerages also recently commented on IDXX. Piper Sandler lifted their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Bank of America lifted their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. 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, Morgan Stanley cut 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 report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. 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 down $17.03 during trading on Friday, reaching $393.73. The company’s stock had a trading volume of 1,635,645 shares, compared to its average volume of 592,305. The company has a market cap of $31.91 billion, a price-to-earnings ratio of 36.90, a PEG ratio of 3.41 and a beta of 1.39. The firm has a fifty day simple moving average of $435.55 and a two-hundred day simple moving average of $440.31. IDEXX Laboratories has a 1 year low of $390.11 and a 1 year high of $548.88. 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 news, EVP George Fennell sold 9,986 shares of the firm’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 completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $1,397,820.00. Following the completion of the sale, the director now owns 3,061 shares in the company, valued at $1,426,242.34. This represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On IDEXX Laboratories

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Insight Wealth Strategies LLC lifted its position in shares of IDEXX Laboratories by 230.5% during the fourth quarter. Insight Wealth Strategies LLC now owns 10,096 shares of the company’s stock worth $4,174,000 after purchasing an additional 7,041 shares in the last quarter. Geode Capital Management LLC increased its stake in IDEXX Laboratories by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company’s stock worth $1,138,732,000 after buying an additional 40,349 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in IDEXX Laboratories during the 3rd quarter worth approximately $1,263,000. Sax Wealth Advisors LLC boosted its position in IDEXX Laboratories by 76.3% in the 4th quarter. Sax Wealth Advisors LLC now owns 1,426 shares of the company’s stock valued at $590,000 after buying an additional 617 shares during the period. Finally, Hantz Financial Services Inc. grew its stake in shares of IDEXX Laboratories by 11.5% in the fourth quarter. Hantz Financial Services Inc. now owns 7,738 shares of the company’s stock worth $3,199,000 after acquiring an additional 800 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

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.