IDEXX Laboratories (NASDAQ:IDXX) Cut to Hold at StockNews.com

StockNews.com cut shares of IDEXX Laboratories (NASDAQ:IDXX) from a buy rating to a hold rating in a research note released on Wednesday.

IDXX has been the subject of a number of other reports. Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Stifel Nicolaus decreased their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Thursday, October 10th. Piper Sandler reaffirmed a “neutral” rating and set a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Bank of America lifted their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Leerink Partners began coverage on IDEXX Laboratories in a report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $524.38.

IDEXX Laboratories Trading Down 0.2 %

Shares of NASDAQ IDXX opened at $459.78 on Wednesday. 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 simple moving average of $427.59 and a two-hundred day simple moving average of $453.67. The firm has a market cap of $37.65 billion, a PE ratio of 44.34, a price-to-earnings-growth ratio of 3.64 and a beta of 1.37. IDEXX Laboratories has a twelve month low of $398.50 and a twelve month high of $583.39.

Insider Buying and Selling

In related news, Director Sophie V. Vandebroek sold 344 shares of the business’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. The trade was a 27.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. FSA Wealth Management LLC purchased a new stake in IDEXX Laboratories during the 3rd quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of 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 valued at $29,000 after purchasing an additional 57 shares during the period. Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of IDEXX Laboratories by 750.0% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock valued at $34,000 after purchasing an additional 60 shares during the period. Rialto Wealth Management LLC acquired a new position in shares of IDEXX Laboratories in the fourth quarter valued at about $30,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of IDEXX Laboratories in the third quarter valued at about $37,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

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.