IDEXX Laboratories (NASDAQ:IDXX) had its price objective raised by equities research analysts at Stifel Nicolaus from $255.00 to $295.00 in a note issued to investors on Monday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 2.85% from the stock’s current price.
A number of other research firms also recently issued reports on IDXX. BidaskClub raised Northrim BanCorp from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Zacks Investment Research cut Inflarx from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Canaccord Genuity restated a “speculative buy” rating and set a GBX 70 ($0.91) price objective on shares of Bacanora Lithium in a research note on Monday, July 1st. Bank of America set a $300.00 price objective on IDEXX Laboratories and gave the stock a “buy” rating in a research note on Friday, June 21st. Finally, Guggenheim restated a “buy” rating and set a $95.00 price objective (up previously from $90.00) on shares of VF in a research note on Thursday, May 23rd. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $273.86.
NASDAQ:IDXX opened at $286.82 on Monday. The stock’s 50 day moving average price is $275.04. The stock has a market cap of $24.68 billion, a P/E ratio of 67.33 and a beta of 0.86. The company has a quick ratio of 0.74, a current ratio of 1.01 and a debt-to-equity ratio of 14.81. IDEXX Laboratories has a 52-week low of $176.11 and a 52-week high of $292.17.
In related news, Chairman Jonathan W. Ayers sold 28,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $249.02, for a total value of $6,972,560.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Giovani Twigge sold 2,600 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $250.14, for a total value of $650,364.00. Following the completion of the transaction, the insider now owns 12,595 shares in the company, valued at approximately $3,150,513.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,721 shares of company stock worth $12,554,774. Insiders own 2.70% of the company’s stock.
Several large investors have recently added to or reduced their stakes in IDXX. Dimensional Fund Advisors LP raised its stake in IDEXX Laboratories by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 333,359 shares of the company’s stock valued at $62,014,000 after buying an additional 7,745 shares in the last quarter. Geode Capital Management LLC raised its stake in IDEXX Laboratories by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 1,162,909 shares of the company’s stock valued at $215,959,000 after buying an additional 81,641 shares in the last quarter. MML Investors Services LLC raised its stake in IDEXX Laboratories by 16.3% during the fourth quarter. MML Investors Services LLC now owns 1,698 shares of the company’s stock valued at $316,000 after buying an additional 238 shares in the last quarter. Gotham Asset Management LLC acquired a new stake in IDEXX Laboratories during the fourth quarter valued at approximately $1,007,000. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in IDEXX Laboratories during the fourth quarter valued at approximately $940,000. Institutional investors and hedge funds own 87.81% of the company’s stock.
About IDEXX Laboratories
IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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