Crestline Management LP Acquires New Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Crestline Management LP bought a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,537 shares of the company’s stock, valued at approximately $1,462,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Hurley Capital LLC acquired a new stake in IDEXX Laboratories in the fourth quarter valued at approximately $29,000. Rialto Wealth Management LLC purchased a new stake in shares of IDEXX Laboratories in the 4th quarter valued at approximately $30,000. Retirement Wealth Solutions LLC purchased a new stake in shares of IDEXX Laboratories in the 4th quarter valued at approximately $31,000. Kestra Investment Management LLC acquired a new stake in shares of IDEXX Laboratories in the 4th quarter valued at $38,000. Finally, Itau Unibanco Holding S.A. lifted its position in shares of IDEXX Laboratories by 540.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company’s stock worth $40,000 after purchasing an additional 81 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Barclays increased their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. 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. Stifel Nicolaus decreased their target price on IDEXX Laboratories from $450.00 to $420.00 and set a “hold” rating for the company in a research note on Monday, April 14th. Bank of America increased their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Morgan Stanley boosted their price objective on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an “overweight” rating in a research report on Monday. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, IDEXX Laboratories presently has an average rating of “Moderate Buy” and an average target price of $524.75.

IDEXX Laboratories Trading Up 0.7 %

IDXX opened at $489.98 on Friday. 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, Inc. has a 52 week low of $356.14 and a 52 week high of $548.88. The business’s 50 day moving average is $422.31 and its two-hundred day moving average is $429.15. The firm has a market cap of $39.71 billion, a price-to-earnings ratio of 45.92, a price-to-earnings-growth ratio of 3.41 and a beta of 1.52.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.96 EPS for the quarter, beating the consensus estimate of $2.93 by $0.03. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The firm had revenue of $998.43 million during the quarter, compared to the consensus estimate of $998.25 million. During the same quarter in the prior year, the firm earned $2.71 EPS. IDEXX Laboratories’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, research analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insider Transactions at IDEXX Laboratories

In related news, EVP George Fennell sold 9,986 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $462.53, for a total value of $4,618,824.58. Following the transaction, the executive vice president now owns 8,176 shares in the company, valued at $3,781,645.28. The trade was a 54.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.98% of the company’s stock.

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.