IDEXX Laboratories, Inc. (NASDAQ:IDXX) Stake Lessened by Federated Hermes Inc.

Federated Hermes Inc. decreased its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 20.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,641 shares of the company’s stock after selling 21,320 shares during the quarter. Federated Hermes Inc. owned 0.10% of IDEXX Laboratories worth $41,237,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of IDXX. Avantax Advisory Services Inc. increased its stake in IDEXX Laboratories by 21.1% in the 4th quarter. Avantax Advisory Services Inc. now owns 632 shares of the company’s stock valued at $351,000 after buying an additional 110 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of IDEXX Laboratories by 14.5% during the fourth quarter. Quadrant Capital Group LLC now owns 662 shares of the company’s stock worth $367,000 after acquiring an additional 84 shares in the last quarter. Haverford Trust Co acquired a new stake in IDEXX Laboratories during the fourth quarter valued at $213,000. Panagora Asset Management Inc. grew its stake in IDEXX Laboratories by 2.8% in the fourth quarter. Panagora Asset Management Inc. now owns 1,523 shares of the company’s stock valued at $845,000 after purchasing an additional 41 shares in the last quarter. Finally, Navellier & Associates Inc. acquired a new position in IDEXX Laboratories in the 4th quarter worth about $207,000. 87.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IDXX has been the subject of several research reports. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Stifel Nicolaus cut their price target on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Piper Sandler decreased their price objective on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Finally, BTIG Research initiated coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 target price on the stock. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, IDEXX Laboratories has an average rating of “Moderate Buy” and an average target price of $582.25.

IDEXX Laboratories Trading Up 0.7 %

Shares of IDEXX Laboratories stock opened at $500.55 on Friday. The company has a market cap of $41.20 billion, a price-to-earnings ratio of 48.46, a PEG ratio of 4.17 and a beta of 1.33. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39. The company’s fifty day simple moving average is $481.18 and its 200-day simple moving average is $501.22. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.88 by ($0.44). The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. IDEXX Laboratories’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.67 EPS. As a group, sell-side analysts expect that IDEXX Laboratories, Inc. will post 10.45 EPS 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.