StockNews.com Upgrades IDEXX Laboratories (NASDAQ:IDXX) to Buy

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

Several other equities research analysts have also recently weighed in on IDXX. Barclays upped 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. Bank of America increased 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, February 4th. Morgan Stanley reduced their price target on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, 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 target price for the company. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $533.75.

IDEXX Laboratories Stock Performance

IDXX stock opened at $441.03 on Thursday. IDEXX Laboratories has a 1-year low of $398.50 and a 1-year high of $583.39. The business has a 50-day moving average price of $434.82 and a 200 day moving average price of $451.84. The company has a market capitalization of $35.87 billion, a P/E ratio of 41.33, a PEG ratio of 3.41 and a beta of 1.37. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95.

Insider Activity

In other news, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction 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 ownership of the stock. The transaction was disclosed in a 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 value of $4,618,824.58. Following the completion of the transaction, 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. Corporate insiders own 2.11% of the company’s stock.

Institutional Trading of IDEXX Laboratories

Large investors have recently added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new stake in shares of IDEXX Laboratories during the third quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. raised its position in IDEXX Laboratories by 5,700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after buying an additional 57 shares during the last quarter. Hurley Capital LLC acquired a new stake in IDEXX Laboratories during the 4th quarter valued at approximately $29,000. Rialto Wealth Management LLC purchased a new stake in shares of IDEXX Laboratories in the 4th quarter valued at $30,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of IDEXX Laboratories in the fourth quarter worth $31,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

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.