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

StockNews.com downgraded shares of IDEXX Laboratories (NASDAQ:IDXX) from a buy rating to a hold rating in a research note issued to investors on Friday.

Several other analysts have also issued reports on the stock. Bank of America raised their price target 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. Leerink Partners began coverage on shares of IDEXX Laboratories in a research report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price target on the stock. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Morgan Stanley decreased their price target on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Finally, Barclays raised their price target on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, IDEXX Laboratories currently has an average rating of “Moderate Buy” and an average target price of $533.75.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $430.12 on Friday. IDEXX Laboratories has a 1 year low of $398.50 and a 1 year high of $562.25. The firm’s fifty day simple moving average is $437.37 and its 200 day simple moving average is $449.09. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $34.98 billion, a PE ratio of 40.31, a PEG ratio of 3.41 and a beta of 1.39.

Insider Activity

In related news, EVP George Fennell sold 9,986 shares of IDEXX Laboratories stock in a transaction dated 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 transaction, the executive vice president now directly owns 8,176 shares of the company’s stock, valued at $3,781,645.28. This trade represents a 54.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction dated 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 transaction, the director now directly owns 3,061 shares of the company’s stock, valued at $1,426,242.34. This represents a 49.50 % decrease in their ownership of the stock. 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

Institutional investors have recently added to or reduced their stakes in the company. FSA Wealth Management LLC bought a new position in IDEXX Laboratories during the 3rd quarter valued at about $25,000. Hurley Capital LLC bought a new position in shares of IDEXX Laboratories in the fourth quarter worth about $29,000. Rialto Wealth Management LLC bought a new position in shares of IDEXX Laboratories in the fourth quarter worth about $30,000. Ashton Thomas Securities LLC bought a new position in shares of IDEXX Laboratories in the third quarter worth about $37,000. Finally, Retirement Wealth Solutions LLC bought a new position in shares of IDEXX Laboratories in the fourth quarter worth about $31,000. 87.84% of the stock is owned by 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.