Piper Sandler Boosts IDEXX Laboratories (NASDAQ:IDXX) Price Target to $510.00

IDEXX Laboratories (NASDAQ:IDXX) had its price objective upped by equities research analysts at Piper Sandler from $435.00 to $510.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 10.11% from the stock’s current price.

IDXX has been the subject of several other reports. Barclays lifted their price objective on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Morgan Stanley decreased 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. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Bank of America upped their price objective 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. Finally, StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $533.75.

IDEXX Laboratories Stock Up 0.7 %

IDXX traded up $3.41 during trading on Monday, hitting $463.19. The stock had a trading volume of 72,320 shares, compared to its average volume of 705,210. The company has a market capitalization of $37.93 billion, a PE ratio of 43.41, a PEG ratio of 3.47 and a beta of 1.37. IDEXX Laboratories has a twelve month low of $398.50 and a twelve month high of $583.39. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.03 and a current ratio of 1.31. The stock has a 50 day simple moving average of $428.35 and a two-hundred day simple moving average of $453.32.

Insider Transactions at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 344 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the transaction, the director now directly owns 905 shares in the company, valued at approximately $380,498.20. This represents a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.11% of the company’s stock.

Institutional Investors Weigh In On IDEXX Laboratories

A number of hedge funds have recently added to or reduced their stakes in IDXX. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in IDEXX Laboratories by 400.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 500 shares of the company’s stock worth $253,000 after buying an additional 400 shares in the last quarter. Carnegie Investment Counsel acquired a new stake in shares of IDEXX Laboratories in the 3rd quarter valued at $205,000. Procyon Advisors LLC grew its position in shares of IDEXX Laboratories by 2.2% in the 3rd quarter. Procyon Advisors LLC now owns 1,544 shares of the company’s stock valued at $780,000 after buying an additional 33 shares during the last quarter. Creative Planning grew its position in shares of IDEXX Laboratories by 2.6% in the 3rd quarter. Creative Planning now owns 24,436 shares of the company’s stock valued at $12,346,000 after buying an additional 614 shares during the last quarter. Finally, RDA Financial Network grew its position in shares of IDEXX Laboratories by 25.2% in the 3rd quarter. RDA Financial Network now owns 1,771 shares of the company’s stock valued at $895,000 after buying an additional 357 shares during the last quarter. 87.84% of the stock is currently 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.