IDEXX Laboratories (NASDAQ:IDXX) Lifted to Buy at StockNews.com

IDEXX Laboratories (NASDAQ:IDXX) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

A number of other equities research analysts also recently weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. JPMorgan Chase & Co. upped their target price on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Morgan Stanley cut their price target on shares of IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a research note on Tuesday. Piper Sandler downgraded IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price objective on the stock. in a report on Tuesday, January 30th. Finally, Barclays dropped their target price on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $580.38.

IDEXX Laboratories Stock Up 5.3 %

IDXX stock opened at $548.53 on Tuesday. IDEXX Laboratories has a twelve month low of $372.50 and a twelve month high of $583.39. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 0.40. The company has a market cap of $45.30 billion, a PE ratio of 53.10, a price-to-earnings-growth ratio of 3.96 and a beta of 1.27. The business’s 50-day simple moving average is $512.97 and its 200 day simple moving average is $517.59.

Institutional Investors Weigh In On IDEXX Laboratories

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Valley National Advisers Inc. grew its holdings in shares of IDEXX Laboratories by 84.6% during the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock worth $26,000 after purchasing an additional 22 shares during the last quarter. Riverview Trust Co acquired a new position in IDEXX Laboratories during the 1st quarter worth about $26,000. Crewe Advisors LLC bought a new stake in IDEXX Laboratories during the 1st quarter worth about $26,000. OFI Invest Asset Management acquired a new stake in IDEXX Laboratories in the 3rd quarter valued at about $25,000. Finally, DSM Capital Partners LLC bought a new position in shares of IDEXX Laboratories in the fourth quarter worth about $33,000. 87.84% of the stock is owned by institutional investors and hedge funds.

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.