Morgan Stanley Lowers IDEXX Laboratories (NASDAQ:IDXX) Price Target to $596.00

IDEXX Laboratories (NASDAQ:IDXX) had its price target reduced by stock analysts at Morgan Stanley from $620.00 to $596.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 8.65% from the stock’s previous close.

IDXX has been the topic of a number of other reports. Barclays cut their price target on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. The Goldman Sachs Group boosted their price objective 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. Finally, JPMorgan Chase & Co. raised their target price on IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $580.38.

IDEXX Laboratories Stock Up 5.3 %

Shares of IDXX opened at $548.53 on Tuesday. The firm has a 50 day simple moving average of $512.97 and a two-hundred day simple moving average of $517.59. The company has a market cap of $45.30 billion, a P/E ratio of 53.10, a P/E/G ratio of 3.96 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 debt-to-equity ratio of 0.40, a current ratio of 1.57 and a quick ratio of 1.16.

Institutional Trading of IDEXX Laboratories

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Patron Partners LLC raised its stake in shares of IDEXX Laboratories by 2.7% during the 4th quarter. Patron Partners LLC now owns 765 shares of the company’s stock worth $425,000 after purchasing an additional 20 shares during the period. NewEdge Wealth LLC raised its position in IDEXX Laboratories by 3.1% in the fourth quarter. NewEdge Wealth LLC now owns 659 shares of the company’s stock worth $366,000 after acquiring an additional 20 shares during the period. Manchester Capital Management LLC boosted its stake in IDEXX Laboratories by 11.9% in the fourth quarter. Manchester Capital Management LLC now owns 188 shares of the company’s stock valued at $104,000 after acquiring an additional 20 shares during the last quarter. Phoenix Holdings Ltd. grew its position in shares of IDEXX Laboratories by 2.8% during the 3rd quarter. Phoenix Holdings Ltd. now owns 769 shares of the company’s stock valued at $338,000 after acquiring an additional 21 shares during the period. Finally, BluePath Capital Management LLC grew its position in shares of IDEXX Laboratories by 1.8% during the 4th quarter. BluePath Capital Management LLC now owns 1,197 shares of the company’s stock valued at $663,000 after acquiring an additional 21 shares during the period. 87.84% of the stock is owned by institutional investors.

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.