IDEXX Laboratories (IDXX) Upgraded to Strong-Buy by BidaskClub
BidaskClub upgraded shares of IDEXX Laboratories (NASDAQ:IDXX) from a buy rating to a strong-buy rating in a report published on Wednesday.
A number of other equities research analysts have also issued reports on IDXX. Canaccord Genuity reiterated a buy rating and issued a $210.00 price target on shares of IDEXX Laboratories in a research note on Monday, January 29th. Piper Jaffray Companies increased their price target on IDEXX Laboratories to $211.00 and gave the stock an overweight rating in a research note on Thursday, February 1st. Aegis reiterated a sell rating on shares of IDEXX Laboratories in a research note on Friday, December 8th. Zacks Investment Research upgraded IDEXX Laboratories from a hold rating to a strong-buy rating and set a $214.00 price target for the company in a research note on Monday, February 5th. Finally, Bank of America increased their price target on IDEXX Laboratories from $200.00 to $220.00 and gave the stock a buy rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $194.00.
Shares of IDEXX Laboratories (IDXX) traded up $5.72 during mid-day trading on Wednesday, reaching $203.17. The company’s stock had a trading volume of 629,103 shares, compared to its average volume of 564,161. IDEXX Laboratories has a 1-year low of $146.09 and a 1-year high of $203.26. The company has a debt-to-equity ratio of -11.26, a current ratio of 0.97 and a quick ratio of 0.80. The stock has a market cap of $17,700.78, a price-to-earnings ratio of 69.11, a PEG ratio of 2.50 and a beta of 0.58.
In other IDEXX Laboratories news, VP Brian P. Mckeon sold 6,602 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $181.36, for a total transaction of $1,197,338.72. Following the completion of the transaction, the vice president now owns 47,040 shares of the company’s stock, valued at approximately $8,531,174.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jonathan W. Ayers sold 2,160 shares of the stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $167.03, for a total transaction of $360,784.80. Following the transaction, the chief executive officer now directly owns 1,077,112 shares of the company’s stock, valued at approximately $179,910,017.36. The disclosure for this sale can be found here. Insiders have sold a total of 91,736 shares of company stock valued at $16,193,502 in the last three months. Insiders own 2.77% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zions Bancorporation bought a new position in shares of IDEXX Laboratories in the 3rd quarter valued at about $162,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of IDEXX Laboratories by 1,000.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,100 shares of the company’s stock valued at $172,000 after acquiring an additional 1,000 shares during the last quarter. SignalPoint Asset Management LLC bought a new position in shares of IDEXX Laboratories in the 4th quarter valued at about $200,000. Ledyard National Bank lifted its holdings in shares of IDEXX Laboratories by 58.9% in the 4th quarter. Ledyard National Bank now owns 1,295 shares of the company’s stock valued at $203,000 after acquiring an additional 480 shares during the last quarter. Finally, Unio Capital LLC bought a new position in shares of IDEXX Laboratories in the 4th quarter valued at about $203,000. 86.21% of the stock is owned by institutional investors and hedge funds.
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About IDEXX Laboratories
IDEXX Laboratories, Inc develops, manufactures and distributes products and provides services for the companion animal veterinary, livestock and poultry, dairy and water testing markets. The Company also sells a line of portable electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market.
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