IDEXX Laboratories (NASDAQ:IDXX) Price Target Lowered to $420.00 at Stifel Nicolaus

IDEXX Laboratories (NASDAQ:IDXX) had its target price reduced by investment analysts at Stifel Nicolaus from $450.00 to $420.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 5.64% from the stock’s current price.

Several other brokerages also recently commented on IDXX. Bank of America raised their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Barclays raised their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Morgan Stanley lowered their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Piper Sandler boosted their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $523.75.

IDEXX Laboratories Stock Performance

Shares of IDXX stock traded up $6.63 during mid-day trading on Monday, reaching $397.57. 102,494 shares of the company’s stock traded hands, compared to its average volume of 614,813. 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 firm has a market capitalization of $32.22 billion, a PE ratio of 37.26, a price-to-earnings-growth ratio of 3.41 and a beta of 1.50. IDEXX Laboratories has a 12 month low of $356.14 and a 12 month high of $548.88. The firm has a 50 day moving average price of $428.03 and a two-hundred day moving average price of $433.60.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction that occurred on Friday, February 7th. The shares were 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 in the company, valued at approximately $1,426,242.34. The trade was a 49.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the completion of the sale, the executive vice president now directly owns 8,176 shares in the company, valued at approximately $3,781,645.28. The trade was a 54.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in IDXX. Insight Wealth Strategies LLC increased its stake in IDEXX Laboratories by 230.5% during the 4th quarter. Insight Wealth Strategies LLC now owns 10,096 shares of the company’s stock worth $4,174,000 after buying an additional 7,041 shares in the last quarter. Sax Wealth Advisors LLC raised its stake in IDEXX Laboratories by 76.3% in the 4th quarter. Sax Wealth Advisors LLC now owns 1,426 shares of the company’s stock valued at $590,000 after purchasing an additional 617 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in IDEXX Laboratories by 11.5% in the 4th quarter. Hantz Financial Services Inc. now owns 7,738 shares of the company’s stock valued at $3,199,000 after purchasing an additional 800 shares in the last quarter. Paragon Capital Management Inc. boosted its stake in IDEXX Laboratories by 25.7% during the 4th quarter. Paragon Capital Management Inc. now owns 3,820 shares of the company’s stock worth $1,579,000 after purchasing an additional 782 shares during the last quarter. Finally, Manitou Investment Management Ltd. raised its position in shares of IDEXX Laboratories by 491.0% in the fourth quarter. Manitou Investment Management Ltd. now owns 52,202 shares of the company’s stock valued at $21,582,000 after buying an additional 43,369 shares during the last quarter. 87.84% of the stock is 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.