IDEXX Laboratories (NASDAQ:IDXX) Downgraded to “Hold” Rating by StockNews.com

IDEXX Laboratories (NASDAQ:IDXX) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Several other research firms also recently weighed in on IDXX. Stifel Nicolaus dropped their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Thursday, October 10th. Bank of America upped their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research report on Tuesday. 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 note on Wednesday, January 29th. Leerink Partners assumed coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price objective on the stock. Finally, 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. Four equities 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 stock. Based on data from MarketBeat.com, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $524.38.

IDEXX Laboratories Stock Performance

Shares of IDXX traded up $3.52 during trading hours on Wednesday, reaching $468.55. 749,199 shares of the company traded hands, compared to its average volume of 739,948. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. The business has a fifty day moving average price of $425.88 and a 200-day moving average price of $453.51. IDEXX Laboratories has a 12-month low of $398.50 and a 12-month high of $583.39. The stock has a market capitalization of $38.37 billion, a P/E ratio of 45.18, a P/E/G ratio of 3.64 and a beta of 1.37.

Insider Buying and Selling at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the sale, the director now directly owns 905 shares of the company’s stock, valued at $380,498.20. This represents a 27.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IDEXX Laboratories

A number of hedge funds have recently bought and sold shares of IDXX. International Assets Investment Management LLC raised its stake in shares of IDEXX Laboratories by 52,746.0% during the 3rd quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock worth $2,669,890,000 after buying an additional 527,460 shares during the period. Flossbach Von Storch SE increased its holdings in IDEXX Laboratories by 5,439.3% in the 4th quarter. Flossbach Von Storch SE now owns 473,336 shares of the company’s stock worth $195,696,000 after acquiring an additional 464,791 shares in the last quarter. Assenagon Asset Management S.A. raised its position in IDEXX Laboratories by 265.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company’s stock worth $179,867,000 after acquiring an additional 316,048 shares during the period. Seilern Investment Management Ltd purchased a new position in IDEXX Laboratories during the fourth quarter valued at $113,104,000. Finally, Vontobel Holding Ltd. grew its position in shares of IDEXX Laboratories by 3,325.0% in the third quarter. Vontobel Holding Ltd. now owns 220,159 shares of the company’s stock valued at $111,229,000 after purchasing an additional 213,731 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

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.