Piper Sandler Issues Positive Forecast for IDEXX Laboratories (NASDAQ:IDXX) Stock Price

IDEXX Laboratories (NASDAQ:IDXX) had its target price upped by Piper Sandler from $435.00 to $510.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other analysts have also weighed in on IDXX. Leerink Partners assumed coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They set an “outperform” rating and a $500.00 target price for the company. Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Barclays lifted their price objective on 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 target price on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Finally, Bank of America lifted their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $533.75.

IDEXX Laboratories Trading Down 1.4 %

NASDAQ:IDXX opened at $457.35 on Monday. The firm has a market capitalization of $37.45 billion, a P/E ratio of 42.86, a P/E/G ratio of 3.47 and a beta of 1.37. The company has a quick ratio of 1.03, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The company has a fifty day moving average of $429.67 and a 200 day moving average of $453.23. IDEXX Laboratories has a 52 week low of $398.50 and a 52 week high of $583.39.

Insiders Place Their Bets

In other 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 value of $4,618,824.58. Following the sale, the executive vice president now directly owns 8,176 shares of the company’s stock, valued at $3,781,645.28. This represents a 54.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director M Anne Szostak sold 3,000 shares of the 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 completion of the transaction, the director now owns 3,061 shares of the company’s stock, valued at approximately $1,426,242.34. The trade was a 49.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,330 shares of company stock worth $6,161,276. 2.11% of the stock is owned by corporate insiders.

Institutional Trading of IDEXX Laboratories

Hedge funds have recently made changes to their positions in the stock. FSA Wealth Management LLC bought a new position in IDEXX Laboratories during the 3rd quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of IDEXX Laboratories by 5,700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after acquiring an additional 57 shares during the last quarter. Rialto Wealth Management LLC bought a new position in shares of IDEXX Laboratories during the fourth quarter valued at $30,000. Retirement Wealth Solutions LLC purchased a new position in shares of IDEXX Laboratories in the 4th quarter worth about $31,000. Finally, Mowery & Schoenfeld Wealth Management LLC raised its position in shares of IDEXX Laboratories by 750.0% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after purchasing an additional 60 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

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.