Federated Hermes Inc. Sells 2,313 Shares of IDEXX Laboratories, Inc. $IDXX

Federated Hermes Inc. reduced its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 7.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC bought a new position in shares of IDEXX Laboratories in the 2nd quarter valued at $29,000. Ameritas Advisory Services LLC bought a new stake in shares of IDEXX Laboratories during the 2nd quarter worth $36,000. Elevation Point Wealth Partners LLC acquired a new stake in IDEXX Laboratories in the second quarter valued at about $36,000. NewSquare Capital LLC grew its position in 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 acquiring an additional 35 shares during the last quarter. Finally, WPG Advisers LLC bought a new position in IDEXX Laboratories in the first quarter valued at about $37,000. 87.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. UBS Group increased their target price on shares of IDEXX Laboratories from $710.00 to $750.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Stifel Nicolaus set a $775.00 price objective on shares of IDEXX Laboratories in a research report on Monday, November 3rd. Jefferies Financial Group restated a “buy” rating and issued a $830.00 target price on shares of IDEXX Laboratories in a research report on Tuesday, November 4th. Wall Street Zen cut shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 29th. Finally, JPMorgan Chase & Co. upped their price target on shares of IDEXX Laboratories from $675.00 to $775.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $763.50.

Insider Buying and Selling

In related news, EVP Nimrata Hunt sold 9,425 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 21,149 shares in the company, valued at $14,874,937.66. This represents a 30.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.98% of the stock is owned by insiders.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $701.83 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.87 and a current ratio of 1.18. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $769.98. The firm has a market cap of $56.04 billion, a PE ratio of 55.66, a price-to-earnings-growth ratio of 4.17 and a beta of 1.67. The firm’s fifty day moving average is $680.30 and its 200-day moving average is $617.20.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Monday, November 3rd. The company reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 67.78% and a net margin of 24.65%.IDEXX Laboratories’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the company 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.

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.