Bank of America Boosts IDEXX Laboratories (NASDAQ:IDXX) Price Target to $535.00

IDEXX Laboratories (NASDAQ:IDXX) had its price target lifted by Bank of America from $475.00 to $535.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other research analysts have also recently issued reports about the stock. Leerink Partners started coverage on shares of IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 target price on the stock. JPMorgan Chase & Co. decreased their price objective on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Stifel Nicolaus dropped their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday, October 10th. Barclays reduced their price target on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, Piper Sandler restated a “neutral” rating and set a $435.00 price objective (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $524.38.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX opened at $460.56 on Tuesday. The company has a market cap of $37.72 billion, a P/E ratio of 44.41, a PEG ratio of 3.64 and a beta of 1.37. IDEXX Laboratories has a one year low of $398.50 and a one year high of $583.39. The business’s 50-day simple moving average is $426.81 and its 200 day simple moving average is $453.62. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42.

Insider Activity

In related news, Director Sophie V. Vandebroek sold 344 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the transaction, the director now directly owns 905 shares in the company, valued at $380,498.20. This trade represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.18% of the company’s stock.

Institutional Trading of IDEXX Laboratories

A number of institutional investors and hedge funds have recently modified their holdings of IDXX. FSA Wealth Management LLC acquired a new position in shares of IDEXX Laboratories in the 3rd quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in IDEXX Laboratories by 5,700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after acquiring an additional 57 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in IDEXX Laboratories in the fourth quarter valued at approximately $31,000. Mowery & Schoenfeld Wealth Management LLC raised its position in shares of IDEXX Laboratories by 750.0% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after purchasing an additional 60 shares during the period. Finally, Ashton Thomas Securities LLC bought a new stake in shares of IDEXX Laboratories in the 3rd quarter worth approximately $37,000. 87.84% of the stock is owned by institutional investors and hedge funds.

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.