Federated Hermes Inc. Increases Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Federated Hermes Inc. increased its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,979 shares of the company's stock after purchasing an additional 1,725 shares during the period. Federated Hermes Inc. owned approximately 0.07% of IDEXX Laboratories worth $23,971,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in IDXX. Centiva Capital LP bought a new stake in IDEXX Laboratories in the 3rd quarter worth approximately $211,000. Janus Henderson Group PLC raised its stake in shares of IDEXX Laboratories by 0.4% during the third quarter. Janus Henderson Group PLC now owns 11,834 shares of the company's stock worth $5,978,000 after acquiring an additional 53 shares in the last quarter. IHT Wealth Management LLC lifted its holdings in shares of IDEXX Laboratories by 32.9% in the 3rd quarter. IHT Wealth Management LLC now owns 666 shares of the company's stock worth $335,000 after acquiring an additional 165 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of IDEXX Laboratories by 35.7% in the 3rd quarter. Wellington Management Group LLP now owns 74,811 shares of the company's stock worth $37,796,000 after acquiring an additional 19,663 shares during the last quarter. Finally, Orion Portfolio Solutions LLC boosted its stake in shares of IDEXX Laboratories by 16.4% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 4,152 shares of the company's stock valued at $2,098,000 after purchasing an additional 584 shares in the last quarter. Institutional investors own 87.84% of the company's stock.

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Wall Street Analyst Weigh In

Several analysts have weighed in on IDXX shares. Barclays boosted their price target on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. StockNews.com downgraded IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Saturday. Bank of America increased their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Morgan Stanley decreased their price target on IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 29th. Finally, Piper Sandler increased their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $523.75.

IDEXX Laboratories Trading Up 2.0 %

Shares of IDXX traded up $7.63 during mid-day trading on Monday, hitting $398.57. 152,944 shares of the company's stock traded hands, compared to its average volume of 615,018. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $32.30 billion, a P/E ratio of 37.35, a PEG ratio of 3.41 and a beta of 1.50. The business's 50-day moving average price is $428.03 and its 200-day moving average price is $433.60. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $548.88.

Insider Activity at IDEXX Laboratories

In other news, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $465.94, for a total transaction of $1,397,820.00. Following the sale, the director now owns 3,061 shares of the company's stock, valued at approximately $1,426,242.34. The trade was a 49.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP George Fennell sold 9,986 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the transaction, the executive vice president now owns 8,176 shares in the company, valued at $3,781,645.28. This represents a 54.98 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by company insiders.

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.