Balyasny Asset Management L.P. Has $1.02 Million Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Balyasny Asset Management L.P. lifted its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 230.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,455 shares of the company’s stock after buying an additional 1,712 shares during the quarter. Balyasny Asset Management L.P.’s holdings in IDEXX Laboratories were worth $1,015,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of IDXX. Hurley Capital LLC bought a new position in IDEXX Laboratories in the 4th quarter valued at about $29,000. Rialto Wealth Management LLC bought a new position in IDEXX Laboratories in the 4th quarter valued at about $30,000. Retirement Wealth Solutions LLC bought a new position in IDEXX Laboratories in the 4th quarter valued at about $31,000. Kestra Investment Management LLC bought a new position in IDEXX Laboratories in the 4th quarter valued at about $38,000. Finally, Itau Unibanco Holding S.A. increased its holdings in IDEXX Laboratories by 540.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company’s stock valued at $40,000 after buying an additional 81 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on IDXX. Piper Sandler raised their target price on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a report on Monday, February 10th. 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. Barclays increased their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Finally, Stifel Nicolaus dropped their target price on shares of IDEXX Laboratories from $450.00 to $420.00 and set a “hold” rating for the company in a report on Monday, April 14th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $524.75.

IDEXX Laboratories Stock Up 0.1%

Shares of NASDAQ IDXX opened at $509.42 on Thursday. The company has a 50 day simple moving average of $427.95 and a 200 day simple moving average of $430.50. The firm has a market cap of $40.97 billion, a PE ratio of 47.74, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95.

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