Federated Hermes Inc. Has $15.79 Million Stock Position in IDEXX Laboratories, Inc. $IDXX

Federated Hermes Inc. lowered its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 7.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 29,444 shares of the company’s stock after selling 2,313 shares during the period. Federated Hermes Inc.’s holdings in IDEXX Laboratories were worth $15,792,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of IDXX. Opal Wealth Advisors LLC acquired a new position in shares of IDEXX Laboratories during the 2nd quarter worth approximately $29,000. Ameritas Advisory Services LLC acquired a new stake in IDEXX Laboratories during the 2nd quarter valued at $36,000. Elevation Point Wealth Partners LLC bought a new position in IDEXX Laboratories during the second quarter worth $36,000. WPG Advisers LLC acquired a new position in shares of IDEXX Laboratories in the first quarter valued at $37,000. Finally, NewSquare Capital LLC raised its position in shares of IDEXX Laboratories by 87.5% in the second quarter. NewSquare Capital LLC now owns 75 shares of the company’s stock valued at $40,000 after purchasing an additional 35 shares during the period. Institutional investors own 87.84% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on IDXX. Stifel Nicolaus set a $775.00 target price on shares of IDEXX Laboratories in a research note on Monday, November 3rd. Wall Street Zen downgraded shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 29th. Morgan Stanley upped their target price on IDEXX Laboratories from $765.00 to $805.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. BTIG Research increased their target price on IDEXX Laboratories from $785.00 to $830.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of IDEXX Laboratories in a report on Monday. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $763.50.

IDEXX Laboratories Stock Up 0.4%

Shares of IDXX opened at $701.83 on Thursday. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 0.24. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $769.98. The firm’s 50 day moving average is $680.30 and its 200-day moving average is $617.20. The stock has a market capitalization of $56.04 billion, a PE ratio of 55.66, a P/E/G ratio of 4.17 and a beta of 1.67.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Monday, November 3rd. The company reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.14 by $0.08. IDEXX Laboratories had a return on equity of 67.78% and a net margin of 24.65%.The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the business posted $2.80 earnings per share. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. Equities research analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insider Activity at IDEXX Laboratories

In related news, EVP Nimrata Hunt sold 9,425 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $703.34, for a total value of $6,628,979.50. Following the transaction, the executive vice president owned 21,149 shares in the company, valued at approximately $14,874,937.66. This trade represents a 30.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.