IDEXX Laboratories (NASDAQ:IDXX) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of IDEXX Laboratories (NASDAQ:IDXX) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

Other analysts also recently issued research reports about the stock. Piper Sandler raised their price target on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Barclays raised their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Bank of America increased their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Morgan Stanley reduced their price objective 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 investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, IDEXX Laboratories currently has an average rating of “Moderate Buy” and an average price target of $533.75.

IDEXX Laboratories Trading Down 4.1 %

Shares of NASDAQ:IDXX opened at $393.73 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. IDEXX Laboratories has a 1 year low of $393.50 and a 1 year high of $548.88. The company has a market cap of $31.91 billion, a P/E ratio of 36.90, a PEG ratio of 3.41 and a beta of 1.39. The stock’s fifty day moving average price is $435.55 and its 200-day moving average price is $440.31.

Insider Activity

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $462.53, for a total value 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 represents a 54.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of the 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 approximately $1,426,242.34. This trade represents a 49.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.11% of the company’s stock.

Hedge Funds Weigh In On IDEXX Laboratories

Hedge funds have recently made changes to their positions in the business. Hurley Capital LLC bought a new stake in IDEXX Laboratories during the 4th quarter valued at approximately $29,000. Rialto Wealth Management LLC purchased a new position in shares of IDEXX Laboratories in the fourth quarter worth $30,000. Retirement Wealth Solutions LLC bought a new position in shares of IDEXX Laboratories during the fourth quarter worth $31,000. Colonial Trust Co SC grew 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 valued at $35,000 after acquiring an additional 39 shares in the last quarter. Finally, Kestra Investment Management LLC bought a new stake in IDEXX Laboratories in the 4th quarter valued at $38,000. Institutional investors 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.