Federated Hermes Inc. Sells 22,211 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Federated Hermes Inc. decreased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 15.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 118,801 shares of the company’s stock after selling 22,211 shares during the period. Federated Hermes Inc. owned approximately 0.14% of IDEXX Laboratories worth $65,940,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in IDXX. Valley National Advisers Inc. raised its holdings in shares of IDEXX Laboratories by 84.6% during the 4th quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock valued at $26,000 after buying an additional 22 shares in the last quarter. OFI Invest Asset Management bought a new stake in shares of IDEXX Laboratories in the 3rd quarter worth approximately $25,000. Venturi Wealth Management LLC boosted its stake in shares of IDEXX Laboratories by 226.3% in the 4th quarter. Venturi Wealth Management LLC now owns 62 shares of the company’s stock valued at $34,000 after purchasing an additional 43 shares in the last quarter. Altshuler Shaham Ltd bought a new position in shares of IDEXX Laboratories during the 4th quarter valued at $26,000. Finally, Geo Capital Gestora de Recursos Ltd bought a new position in shares of IDEXX Laboratories during the 3rd quarter valued at $28,000. Institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling at IDEXX Laboratories

In other news, CFO Brian P. Mckeon sold 23,326 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total value of $13,296,053.26. Following the sale, the chief financial officer now directly owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the sale, the chief executive officer now directly owns 79,247 shares in the company, valued at $45,377,624.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian P. Mckeon sold 23,326 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the completion of the transaction, the chief financial officer now directly owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The disclosure for this sale can be found here. Insiders sold a total of 43,524 shares of company stock valued at $24,871,960 in the last three months. Company insiders own 2.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on IDXX. JPMorgan Chase & Co. upped their price target on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. The Goldman Sachs Group boosted their price objective on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Piper Sandler lowered shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 target price for the company. in a report on Tuesday, January 30th. Finally, Barclays boosted their price target on IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $591.50.

IDEXX Laboratories Price Performance

IDXX opened at $477.79 on Friday. The stock has a fifty day simple moving average of $539.94 and a two-hundred day simple moving average of $508.49. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42. The company has a market cap of $39.68 billion, a price-to-earnings ratio of 47.45, a price-to-earnings-growth ratio of 3.68 and a beta of 1.26.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Monday, February 5th. The company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.12 by $0.20. The company had revenue of $901.60 million during the quarter, compared to analyst estimates of $891.88 million. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. IDEXX Laboratories’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.05 earnings per share. Research analysts predict that IDEXX Laboratories, Inc. will post 11.15 earnings per share for the current fiscal year.

IDEXX Laboratories Profile

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.