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

Federated Hermes Inc. reduced its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 15.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 118,801 shares of the company’s stock after selling 22,211 shares during the period. Federated Hermes Inc.’s holdings in IDEXX Laboratories were worth $65,940,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of IDXX. Panagora Asset Management Inc. increased its holdings in shares of IDEXX Laboratories by 50.3% during the 1st quarter. Panagora Asset Management Inc. now owns 3,232 shares of the company’s stock worth $1,768,000 after purchasing an additional 1,081 shares during the period. Raymond James Trust N.A. raised its holdings in IDEXX Laboratories by 26.8% in the 1st quarter. Raymond James Trust N.A. now owns 1,624 shares of the company’s stock valued at $888,000 after acquiring an additional 343 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of IDEXX Laboratories by 77.1% in the 1st quarter. Cetera Investment Advisers now owns 3,675 shares of the company’s stock worth $2,010,000 after acquiring an additional 1,600 shares during the period. Moors & Cabot Inc. increased its position in shares of IDEXX Laboratories by 3.0% during the first quarter. Moors & Cabot Inc. now owns 1,757 shares of the company’s stock valued at $961,000 after purchasing an additional 52 shares during the period. Finally, Sequoia Financial Advisors LLC increased its stake in IDEXX Laboratories by 15.6% in the first quarter. Sequoia Financial Advisors LLC now owns 992 shares of the company’s stock valued at $543,000 after acquiring an additional 134 shares during the period. 87.84% of the stock is owned by institutional investors.

Insider Activity

In other IDEXX Laboratories news, SVP George Fennell sold 8,198 shares of IDEXX Laboratories stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $573.87, for a total value of $4,704,586.26. Following the completion of the sale, the senior vice president now owns 6,712 shares in the company, valued at approximately $3,851,815.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP George Fennell sold 8,198 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the sale, the senior vice president now owns 6,712 shares of the company’s stock, valued at $3,851,815.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total value of $6,871,320.00. Following the transaction, the chief executive officer now owns 79,247 shares in the company, valued at approximately $45,377,624.67. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,524 shares of company stock valued at $24,871,960. 2.11% of the stock is owned by company insiders.

IDEXX Laboratories Trading Down 0.1 %

Shares of IDXX stock opened at $477.79 on Friday. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39. The company has a market capitalization of $39.68 billion, a PE ratio of 47.45, a price-to-earnings-growth ratio of 3.68 and a beta of 1.26. The firm has a 50 day moving average price of $539.94 and a two-hundred day moving average price of $508.49. The company has a quick ratio of 1.17, a current ratio of 1.57 and a debt-to-equity ratio of 0.42.

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

Wall Street Analyst Weigh In

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

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.