IDEXX Laboratories (NASDAQ:IDXX) Downgraded by StockNews.com

StockNews.com downgraded shares of IDEXX Laboratories (NASDAQ:IDXX) from a buy rating to a hold rating in a research report report published on Thursday.

IDXX has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their price target on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the company an overweight rating in a report on Tuesday, February 6th. The Goldman Sachs Group boosted their price objective on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a buy rating in a research report on Wednesday, January 17th. Piper Sandler downgraded shares of IDEXX Laboratories from an overweight rating to a neutral rating and set a $525.00 target price for the company. in a research report on Tuesday, January 30th. Barclays dropped their price target on shares of IDEXX Laboratories from $655.00 to $570.00 and set an overweight rating on the stock in a research note on Thursday. Finally, William Blair reaffirmed an outperform rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, IDEXX Laboratories has an average rating of Moderate Buy and an average target price of $580.88.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX traded down $3.73 during midday trading on Thursday, reaching $476.87. The company’s stock had a trading volume of 290,614 shares, compared to its average volume of 442,802. The company has a market cap of $39.38 billion, a price-to-earnings ratio of 46.52, a price-to-earnings-growth ratio of 3.78 and a beta of 1.27. IDEXX Laboratories has a one year low of $372.50 and a one year high of $583.39. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average price of $523.29 and a 200 day moving average price of $513.58.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.20. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. The business had revenue of $901.60 million during the quarter, compared to analyst estimates of $891.88 million. During the same period last year, the company posted $2.05 EPS. The company’s revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts expect that IDEXX Laboratories will post 11.05 EPS for the current year.

Insider Activity at IDEXX Laboratories

In other news, SVP George Fennell sold 8,198 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $573.87, for a total value of $4,704,586.26. Following the completion of the sale, the senior vice president now directly owns 6,712 shares of the company’s stock, valued at $3,851,815.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP George Fennell sold 8,198 shares of IDEXX Laboratories stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the sale, the senior vice president now directly owns 6,712 shares of the company’s stock, valued at $3,851,815.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total value of $6,871,320.00. Following the completion of the sale, the chief executive officer now owns 79,247 shares of the company’s stock, valued at approximately $45,377,624.67. The disclosure for this sale can be found here. Insiders sold a total of 43,524 shares of company stock worth $24,871,960 in the last 90 days. 2.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On IDEXX Laboratories

Hedge funds have recently made changes to their positions in the business. McClarren Financial Advisors Inc. raised its position in IDEXX Laboratories by 191.9% in the first quarter. McClarren Financial Advisors Inc. now owns 540 shares of the company’s stock worth $292,000 after purchasing an additional 355 shares in the last quarter. Csenge Advisory Group increased its holdings in shares of IDEXX Laboratories by 21.4% during the first quarter. Csenge Advisory Group now owns 943 shares of the company’s stock worth $509,000 after buying an additional 166 shares in the last quarter. TFB Advisors LLC bought a new position in shares of IDEXX Laboratories in the first quarter valued at approximately $294,000. Mediolanum International Funds Ltd bought a new position in shares of IDEXX Laboratories in the first quarter valued at approximately $10,092,000. Finally, Rehmann Capital Advisory Group boosted its holdings in shares of IDEXX Laboratories by 3.1% in the 1st quarter. Rehmann Capital Advisory Group now owns 985 shares of the company’s stock worth $532,000 after acquiring an additional 30 shares in the last quarter. Institutional investors and hedge funds 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.