Quest Investment Management LLC Sells 17,318 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Quest Investment Management LLC lowered its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 90.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,802 shares of the company’s stock after selling 17,318 shares during the period. Quest Investment Management LLC’s holdings in IDEXX Laboratories were worth $878,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in IDXX. D.A. Davidson & CO. lifted its stake in shares of IDEXX Laboratories by 4.4% in the 4th quarter. D.A. Davidson & CO. now owns 1,509 shares of the company’s stock valued at $838,000 after purchasing an additional 64 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of IDEXX Laboratories by 19.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 310 shares of the company’s stock worth $172,000 after buying an additional 51 shares during the last quarter. US Bancorp DE boosted its stake in shares of IDEXX Laboratories by 2.6% during the 4th quarter. US Bancorp DE now owns 19,820 shares of the company’s stock worth $11,001,000 after acquiring an additional 502 shares in the last quarter. Team Hewins LLC acquired a new position in shares of IDEXX Laboratories during the 4th quarter valued at about $379,000. Finally, Orion Portfolio Solutions LLC raised its stake in shares of IDEXX Laboratories by 8.3% in the 4th quarter. Orion Portfolio Solutions LLC now owns 2,910 shares of the company’s stock valued at $1,583,000 after acquiring an additional 222 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on IDXX shares. Stifel Nicolaus dropped their price target on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. BTIG Research initiated coverage on shares of IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 target price on the stock. Piper Sandler decreased their price target on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Finally, StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $582.25.

IDEXX Laboratories Stock Down 2.0 %

Shares of IDXX opened at $506.74 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.37. The company has a 50-day simple moving average of $483.85 and a 200-day simple moving average of $499.16. IDEXX Laboratories, Inc. has a 52 week low of $372.50 and a 52 week high of $583.39. The firm has a market capitalization of $41.85 billion, a P/E ratio of 49.06, a P/E/G ratio of 4.17 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $2.44 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.44). IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the company earned $2.67 EPS. The company’s revenue was up 6.4% on a year-over-year basis. On average, equities research analysts expect that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current year.

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.