Progressive Investment Management Corp Sells 283 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Progressive Investment Management Corp lessened its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,998 shares of the company’s stock after selling 283 shares during the period. IDEXX Laboratories accounts for approximately 2.9% of Progressive Investment Management Corp’s portfolio, making the stock its 13th largest holding. Progressive Investment Management Corp’s holdings in IDEXX Laboratories were worth $11,114,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in IDXX. Crewe Advisors LLC purchased a new position in shares of IDEXX Laboratories in the 1st quarter worth about $26,000. Ridgewood Investments LLC bought a new position in IDEXX Laboratories during the 2nd quarter worth approximately $27,000. Institutional & Family Asset Management LLC purchased a new position in shares of IDEXX Laboratories during the 2nd quarter worth approximately $28,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in IDEXX Laboratories by 5,700.0% in the third 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 in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC grew its holdings in IDEXX Laboratories by 750.0% in the third 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. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Stock Down 0.8 %

Shares of IDXX opened at $416.34 on Wednesday. The company has a market capitalization of $34.09 billion, a PE ratio of 40.15, a price-to-earnings-growth ratio of 3.67 and a beta of 1.36. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. IDEXX Laboratories, Inc. has a 12-month low of $404.74 and a 12-month high of $583.39. The business’s 50 day moving average is $465.52 and its 200 day moving average is $481.99.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.11. The company had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. IDEXX Laboratories’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the company posted $2.53 earnings per share. Research analysts expect that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IDXX has been the topic of several analyst reports. Barclays dropped their target price on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. BTIG Research assumed coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price objective on the stock. Piper Sandler reissued a “neutral” rating and issued a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Stifel Nicolaus lowered their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. cut their target price on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $552.38.

IDEXX Laboratories Profile

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.