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

IDEXX Laboratories (NASDAQ:IDXX) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other research analysts also recently issued reports on IDXX. Leerink Partners assumed coverage on shares of IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 target price for the company. Bank of America boosted their target price 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 upped their price objective 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. 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 report on Wednesday, January 29th. Finally, Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, IDEXX Laboratories has an average rating of “Moderate Buy” and a consensus target price of $533.75.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $415.30 on Friday. The firm has a market capitalization of $33.78 billion, a PE ratio of 38.92, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39. The company’s fifty day moving average price is $438.03 and its 200-day moving average price is $446.76. IDEXX Laboratories has a 1-year low of $398.50 and a 1-year high of $548.88. 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 Buying and Selling

In related news, EVP George Fennell sold 9,986 shares of the company’s 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 owns 8,176 shares in the company, valued at $3,781,645.28. This represents a 54.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director M Anne Szostak sold 3,000 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $465.94, for a total transaction of $1,397,820.00. Following the transaction, the director now owns 3,061 shares of the company’s stock, valued at approximately $1,426,242.34. This trade represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.18% of the company’s stock.

Institutional Trading of IDEXX Laboratories

Several large investors have recently bought and sold shares of IDXX. FSA Wealth Management LLC purchased a new stake in IDEXX Laboratories during the 3rd quarter valued at about $25,000. Hurley Capital LLC purchased a new stake in IDEXX Laboratories during the 4th quarter valued at about $29,000. Rialto Wealth Management LLC purchased a new stake in IDEXX Laboratories during the 4th quarter valued at about $30,000. Retirement Wealth Solutions LLC purchased a new stake in IDEXX Laboratories during the 4th quarter valued at about $31,000. Finally, Colonial Trust Co SC grew its stake in IDEXX Laboratories by 84.8% during the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company’s stock valued at $35,000 after acquiring an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

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.