Progressive Investment Management Corp Sells 686 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Progressive Investment Management Corp lowered its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.1% during the 4th quarter, Holdings Channel reports. The firm owned 21,312 shares of the company’s stock after selling 686 shares during the period. IDEXX Laboratories makes up about 2.3% of Progressive Investment Management Corp’s investment portfolio, making the stock its 20th largest holding. Progressive Investment Management Corp’s holdings in IDEXX Laboratories were worth $8,811,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. FSA Wealth Management LLC bought a new position in IDEXX Laboratories during the third quarter valued at about $25,000. Rialto Wealth Management LLC purchased a new position in IDEXX Laboratories in the fourth quarter valued at about $30,000. Retirement Wealth Solutions LLC bought a new position in shares of IDEXX Laboratories during the 4th quarter valued at approximately $31,000. Kestra Investment Management LLC purchased a new stake in shares of IDEXX Laboratories during the 4th quarter worth approximately $38,000. Finally, Crews Bank & Trust bought a new stake in shares of IDEXX Laboratories in the 4th quarter worth approximately $41,000. Institutional investors own 87.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on IDXX shares. Piper Sandler increased their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Leerink Partners began coverage on IDEXX Laboratories in a research note on Monday, December 2nd. They set an “outperform” rating and a $500.00 price target for the company. Bank of America boosted their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $533.75.

Insider Activity

In other news, Director M Anne Szostak sold 3,000 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $465.94, for a total transaction of $1,397,820.00. Following the completion of the transaction, the director now owns 3,061 shares of the company’s stock, valued at approximately $1,426,242.34. The trade was a 49.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP George Fennell sold 9,986 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the completion of the sale, the executive vice president now directly owns 8,176 shares in the company, valued at $3,781,645.28. This represents a 54.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.11% of the company’s stock.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $415.87 on Friday. IDEXX Laboratories, Inc. has a 1-year low of $398.50 and a 1-year high of $548.88. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $33.71 billion, a PE ratio of 38.98, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39. The firm’s 50 day simple moving average is $437.07 and its 200 day simple moving average is $443.27.

About IDEXX Laboratories

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.