Federated Hermes Inc. Increases Stock Position in IDEXX Laboratories, Inc. $IDXX

Federated Hermes Inc. lifted its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 269.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 108,865 shares of the company’s stock after purchasing an additional 79,421 shares during the period. Federated Hermes Inc. owned 0.14% of IDEXX Laboratories worth $69,553,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IDXX. STF Management LP lifted its position in shares of IDEXX Laboratories by 1.3% during the 2nd quarter. STF Management LP now owns 1,240 shares of the company’s stock worth $665,000 after buying an additional 16 shares in the last quarter. Clearstead Trust LLC increased its position in shares of IDEXX Laboratories by 1.1% during the second quarter. Clearstead Trust LLC now owns 1,515 shares of the company’s stock valued at $813,000 after acquiring an additional 16 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in IDEXX Laboratories by 4.4% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 380 shares of the company’s stock worth $243,000 after acquiring an additional 16 shares during the period. Moss Adams Wealth Advisors LLC boosted its position in IDEXX Laboratories by 3.3% in the third quarter. Moss Adams Wealth Advisors LLC now owns 528 shares of the company’s stock worth $337,000 after purchasing an additional 17 shares during the last quarter. Finally, Stratos Wealth Partners LTD. grew its stake in IDEXX Laboratories by 1.7% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 1,051 shares of the company’s stock valued at $564,000 after purchasing an additional 18 shares during the period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $687.74 on Thursday. The firm has a market cap of $54.92 billion, a P/E ratio of 54.54, a price-to-earnings-growth ratio of 3.72 and a beta of 1.67. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 0.24. The company’s 50 day moving average is $706.71 and its 200-day moving average is $658.79. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Monday, November 3rd. The company reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.14 by $0.08. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.07 billion. IDEXX Laboratories had a net margin of 24.65% and a return on equity of 67.78%. IDEXX Laboratories’s revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.80 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. Sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. UBS Group lifted their target price on IDEXX Laboratories from $710.00 to $750.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Wall Street Zen lowered shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 17th. JPMorgan Chase & Co. increased their target price on shares of IDEXX Laboratories from $675.00 to $775.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. BTIG Research raised their price target on shares of 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 upgraded IDEXX Laboratories from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $763.50.

Insider Buying and Selling

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 9,425 shares of IDEXX Laboratories stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $703.34, for a total transaction of $6,628,979.50. Following the completion of the transaction, the executive vice president owned 21,149 shares of the company’s stock, valued at $14,874,937.66. The trade was a 30.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.98% of the stock is currently owned by corporate insiders.

IDEXX Laboratories Profile

IDEXX Laboratories, Inc (NASDAQ: IDXX) is a global developer, manufacturer and provider of diagnostic products and services primarily for the animal health, water testing and food safety markets. Headquartered in Westbrook, Maine, the company supplies in-clinic diagnostic instruments, consumables, reference laboratory testing and practice-management tools that support veterinarians, livestock and dairy producers, and utilities and food producers worldwide.

IDEXX’s product portfolio includes point-of-care tests and immunoassays designed for rapid diagnosis in veterinary clinics, in-clinic chemistry and hematology analyzers, automated urinalysis systems, and digital diagnostic solutions.