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

Quest Investment Management LLC lessened its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 90.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,802 shares of the company’s stock after selling 17,318 shares during the quarter. Quest Investment Management LLC’s holdings in IDEXX Laboratories were worth $878,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Riverview Trust Co acquired a new stake in shares of IDEXX Laboratories in the 1st quarter valued at $26,000. Crewe Advisors LLC acquired a new stake in shares of IDEXX Laboratories during the first quarter worth approximately $26,000. Ridgewood Investments LLC bought a new position in shares of IDEXX Laboratories in the second quarter valued at approximately $27,000. Institutional & Family Asset Management LLC acquired a new position in shares of IDEXX Laboratories in the 2nd quarter worth approximately $28,000. Finally, DSM Capital Partners LLC bought a new stake in IDEXX Laboratories during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Trading Down 2.0 %

IDXX opened at $506.74 on Friday. The firm 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 fifty-two week low of $372.50 and a fifty-two week high of $583.39. The company has a market cap of $41.85 billion, a price-to-earnings ratio of 49.06, a price-to-earnings-growth ratio of 4.17 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 quarterly 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 net margin of 22.34% and a return on equity of 57.03%. The company 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 business’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Piper Sandler cut their price objective on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. 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 target on the stock. Stifel Nicolaus lowered their price objective on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Finally, StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus 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.