Balyasny Asset Management L.P. Acquires 1,712 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Balyasny Asset Management L.P. grew its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 230.4% in the 4th quarter, Holdings Channel reports. The firm owned 2,455 shares of the company’s stock after acquiring an additional 1,712 shares during the quarter. Balyasny Asset Management L.P.’s holdings in IDEXX Laboratories were worth $1,015,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in IDEXX Laboratories by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 2,297,271 shares of the company’s stock worth $948,279,000 after purchasing an additional 37,734 shares during the last quarter. Bamco Inc. NY raised its holdings in IDEXX Laboratories by 4.3% during the 4th quarter. Bamco Inc. NY now owns 2,005,522 shares of the company’s stock worth $829,163,000 after purchasing an additional 82,264 shares during the last quarter. Invesco Ltd. raised its holdings in IDEXX Laboratories by 6.8% during the 4th quarter. Invesco Ltd. now owns 1,160,988 shares of the company’s stock worth $479,999,000 after purchasing an additional 74,324 shares during the last quarter. Norges Bank bought a new position in IDEXX Laboratories during the 4th quarter worth approximately $412,258,000. Finally, Northern Trust Corp raised its holdings in IDEXX Laboratories by 18.6% during the 4th quarter. Northern Trust Corp now owns 912,874 shares of the company’s stock worth $377,419,000 after purchasing an additional 143,369 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $509.42 on Thursday. The company has a fifty day simple moving average of $427.95 and a 200 day simple moving average of $430.50. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month 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 company has a market cap of $40.97 billion, a P/E ratio of 47.74, a PEG ratio of 3.41 and a beta of 1.52.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (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 business had revenue of $998.43 million during the quarter, compared to the consensus estimate of $998.25 million. During the same quarter last year, the firm posted $2.71 EPS. IDEXX Laboratories’s revenue was up 3.6% compared to the same quarter last year. Sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IDXX has been the subject of several analyst reports. Piper Sandler raised their price target on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Barclays raised their price objective on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Bank of America raised their price objective on shares of 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 reduced their price objective on shares of IDEXX Laboratories from $450.00 to $420.00 and set a “hold” rating for the company in a research report on Monday, April 14th. Finally, StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently 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.