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

Crestline Management LP purchased 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 (SEC). The fund purchased 3,537 shares of the company’s stock, valued at approximately $1,462,000.

Several other large investors have also recently added to or reduced their stakes in IDXX. Norges Bank acquired a new position in shares of IDEXX Laboratories during the 4th quarter worth $412,258,000. Flossbach Von Storch SE grew its position in IDEXX Laboratories by 5,439.3% during the fourth quarter. Flossbach Von Storch SE now owns 473,336 shares of the company’s stock worth $195,696,000 after buying an additional 464,791 shares during the period. Alyeska Investment Group L.P. purchased a new position in IDEXX Laboratories in the fourth quarter valued at about $156,412,000. William Blair Investment Management LLC lifted its position in shares of IDEXX Laboratories by 701.6% during the 4th quarter. William Blair Investment Management LLC now owns 422,133 shares of the company’s stock valued at $174,527,000 after acquiring an additional 369,471 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of IDEXX Laboratories by 265.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company’s stock worth $179,867,000 after acquiring an additional 316,048 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock opened at $489.98 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. The stock has a market capitalization of $39.71 billion, a P/E ratio of 45.92, a P/E/G ratio of 3.41 and a beta of 1.52. The firm’s 50-day moving average is $422.31 and its two-hundred day moving average is $429.15. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $548.88.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Thursday, May 1st. The company reported $2.96 EPS for the quarter, topping 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 analysts’ expectations of $998.25 million. During the same period in the previous year, the company earned $2.71 EPS. IDEXX Laboratories’s revenue for the quarter was up 3.6% on a year-over-year basis. Equities analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Insider Activity

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of IDEXX Laboratories 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 completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.98% of the company’s stock.

Wall Street Analysts Forecast Growth

IDXX has been the subject of several research analyst reports. Morgan Stanley raised their price objective on IDEXX Laboratories from $548.00 to $558.00 and gave the company an “overweight” rating in a research note on Monday. Piper Sandler raised their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Stifel Nicolaus decreased their price objective on shares of IDEXX Laboratories from $450.00 to $420.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. Bank of America raised their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Barclays upped their price target on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $524.75.

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.