IDEXX Laboratories (NASDAQ:IDXX) Stock Rating Upgraded by StockNews.com

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

Other research analysts have also recently issued reports about the company. Barclays raised their price objective on 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 note on Wednesday, January 29th. Bank of America upped their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Piper Sandler raised their target price on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $533.75.

IDEXX Laboratories Stock Performance

IDXX stock traded down $17.03 during midday trading on Friday, reaching $393.73. The stock had a trading volume of 1,635,645 shares, compared to its average volume of 592,305. 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 52-week low of $390.11 and a 52-week high of $548.88. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The stock has a market cap of $31.91 billion, a PE ratio of 36.90, a P/E/G ratio of 3.41 and a beta of 1.39.

Insider Activity at IDEXX Laboratories

In other news, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $3,781,645.28. This represents a 54.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director M Anne Szostak sold 3,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 3,061 shares in the company, valued at $1,426,242.34. This trade represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On IDEXX Laboratories

A number of large investors have recently added to or reduced their stakes in IDXX. United Capital Financial Advisors LLC increased its stake in shares of IDEXX Laboratories by 0.9% during the fourth quarter. United Capital Financial Advisors LLC now owns 2,446 shares of the company’s stock worth $1,011,000 after purchasing an additional 22 shares in the last quarter. Cranbrook Wealth Management LLC increased its stake in IDEXX Laboratories by 7.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock worth $158,000 after buying an additional 25 shares in the last quarter. Gabelli Funds LLC increased its stake in IDEXX Laboratories by 5.3% during the 4th quarter. Gabelli Funds LLC now owns 500 shares of the company’s stock worth $207,000 after buying an additional 25 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in shares of IDEXX Laboratories by 1.8% during the fourth quarter. Perigon Wealth Management LLC now owns 1,474 shares of the company’s stock valued at $632,000 after acquiring an additional 26 shares during the last quarter. Finally, Summit Trail Advisors LLC boosted its stake in shares of IDEXX Laboratories by 3.3% in the fourth quarter. Summit Trail Advisors LLC now owns 810 shares of the company’s stock worth $335,000 after acquiring an additional 26 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

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.