Crestline Management LP Makes New $1.46 Million Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Crestline Management LP bought a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,537 shares of the company's stock, valued at approximately $1,462,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IDXX. Centiva Capital LP raised its position in IDEXX Laboratories by 286.6% in the 4th quarter. Centiva Capital LP now owns 1,616 shares of the company's stock valued at $668,000 after purchasing an additional 1,198 shares in the last quarter. Brevan Howard Capital Management LP raised its position in IDEXX Laboratories by 1,228.1% in the 4th quarter. Brevan Howard Capital Management LP now owns 8,513 shares of the company's stock valued at $3,520,000 after purchasing an additional 7,872 shares in the last quarter. Bridgefront Capital LLC acquired a new stake in IDEXX Laboratories in the 4th quarter valued at about $424,000. Captrust Financial Advisors raised its position in IDEXX Laboratories by 22.7% in the 4th quarter. Captrust Financial Advisors now owns 5,825 shares of the company's stock valued at $2,408,000 after purchasing an additional 1,078 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its position in IDEXX Laboratories by 230.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,455 shares of the company's stock valued at $1,015,000 after purchasing an additional 1,712 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Performance

IDXX traded down $0.40 during trading on Tuesday, hitting $509.13. 558,434 shares of the stock were exchanged, compared to its average volume of 649,572. The firm has a market capitalization of $40.95 billion, a P/E ratio of 47.72, a PEG ratio of 3.41 and a beta of 1.52. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $548.88. The stock has a fifty day moving average price of $424.76 and a two-hundred day moving average price of $429.40. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $2.96 earnings per share for the quarter, beating analysts' consensus estimates of $2.93 by $0.03. IDEXX Laboratories had a return on equity of 55.82% and a net margin of 22.78%. The firm had revenue of $998.43 million for the quarter, compared to the consensus estimate of $998.25 million. During the same period in the previous year, the business earned $2.71 earnings per share. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on IDXX shares. Morgan Stanley increased their price target on IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Bank of America raised their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Stifel Nicolaus cut their target price on IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Barclays raised their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Finally, Piper Sandler raised their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $524.75.

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.