Piper Sandler Boosts IDEXX Laboratories (NASDAQ:IDXX) Price Target to $510.00

IDEXX Laboratories (NASDAQ:IDXX) had its target price lifted by research analysts at Piper Sandler from $435.00 to $510.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target suggests a potential upside of 10.11% from the stock’s previous close.

A number of other brokerages also recently issued reports on IDXX. Morgan Stanley lowered their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Leerink Partners assumed coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price target on the stock. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Barclays raised their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $533.75.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock traded up $3.41 during trading hours on Monday, reaching $463.19. The company had a trading volume of 72,320 shares, compared to its average volume of 705,210. IDEXX Laboratories has a one year low of $398.50 and a one year high of $583.39. The business has a fifty day simple moving average of $428.35 and a 200 day simple moving average of $453.32. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.03. The firm has a market cap of $37.93 billion, a PE ratio of 43.41, a price-to-earnings-growth ratio of 3.47 and a beta of 1.37.

Insider Buying and Selling

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the sale, the director now directly owns 905 shares in the company, valued at approximately $380,498.20. The trade was a 27.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.11% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in IDXX. FSA Wealth Management LLC purchased a new stake in shares of IDEXX Laboratories during the 3rd quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. raised its position in IDEXX Laboratories by 5,700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after purchasing an additional 57 shares during the period. Rialto Wealth Management LLC purchased a new stake in IDEXX Laboratories in the 4th quarter worth about $30,000. Retirement Wealth Solutions LLC purchased a new stake in IDEXX Laboratories in the 4th quarter worth about $31,000. Finally, Mowery & Schoenfeld Wealth Management LLC raised its position in 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 period. Institutional investors own 87.84% of the company’s stock.

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.