Red Spruce Capital LLC Has $976,000 Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Red Spruce Capital LLC raised its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,932 shares of the company’s stock after purchasing an additional 40 shares during the period. Red Spruce Capital LLC’s holdings in IDEXX Laboratories were worth $976,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. HBW Advisory Services LLC acquired a new stake in shares of IDEXX Laboratories in the 3rd quarter valued at approximately $1,103,000. Rockland Trust Co. acquired a new stake in shares of IDEXX Laboratories in the 3rd quarter valued at approximately $202,000. Czech National Bank raised its position in shares of IDEXX Laboratories by 6.5% in the 3rd quarter. Czech National Bank now owns 16,766 shares of the company’s stock valued at $8,471,000 after acquiring an additional 1,028 shares during the period. Massmutual Trust Co. FSB ADV raised its position in shares of IDEXX Laboratories by 8.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 361 shares of the company’s stock valued at $182,000 after acquiring an additional 29 shares during the period. Finally, Paragon Capital Management Inc. raised its position in shares of IDEXX Laboratories by 2.9% in the 2nd quarter. Paragon Capital Management Inc. now owns 3,024 shares of the company’s stock valued at $1,473,000 after acquiring an additional 86 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock traded down $5.85 during mid-day trading on Friday, hitting $477.67. 468,682 shares of the company’s stock traded hands, compared to its average volume of 468,802. The firm has a 50 day simple moving average of $487.95 and a two-hundred day simple moving average of $495.89. IDEXX Laboratories, Inc. has a fifty-two week low of $372.50 and a fifty-two week high of $583.39. The stock has a market cap of $39.45 billion, a price-to-earnings ratio of 46.24, a P/E/G ratio of 4.32 and a beta of 1.33. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 1.03.

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

Analyst Upgrades and Downgrades

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

IDEXX Laboratories Company 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.