IDEXX Laboratories, Inc. (NASDAQ:IDXX) Stock Holdings Trimmed by Penobscot Wealth Management

Penobscot Wealth Management cut its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 6.5% in the 3rd quarter, Holdings Channel reports. The firm owned 3,549 shares of the company’s stock after selling 246 shares during the quarter. IDEXX Laboratories comprises approximately 1.0% of Penobscot Wealth Management’s holdings, making the stock its 24th biggest position. Penobscot Wealth Management’s holdings in IDEXX Laboratories were worth $1,793,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Crewe Advisors LLC bought a new position in shares of IDEXX Laboratories during the first quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new position in shares of IDEXX Laboratories during the second quarter valued at approximately $27,000. Institutional & Family Asset Management LLC bought a new position in shares of IDEXX Laboratories during the second quarter valued at approximately $28,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of IDEXX Laboratories by 5,700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after purchasing an additional 57 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC grew its holdings in shares of IDEXX Laboratories by 750.0% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock valued at $34,000 after purchasing an additional 60 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on IDXX shares. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Piper Sandler decreased their price objective on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. BTIG Research initiated coverage on IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective for the company. Stifel Nicolaus decreased their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. decreased their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $574.13.

IDEXX Laboratories Stock Performance

IDXX opened at $406.92 on Friday. The company has a market capitalization of $33.49 billion, a price-to-earnings ratio of 40.29, a price-to-earnings-growth ratio of 3.94 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, Inc. has a 1-year low of $372.50 and a 1-year high of $583.39. The business has a 50 day moving average price of $480.17 and a two-hundred day moving average price of $487.66.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11. The firm had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.53 earnings per share. Research analysts predict that IDEXX Laboratories, Inc. will post 10.44 EPS for the current fiscal 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.