IDEX Corporation has acquired Iridian Spectral, a Canada-based company that specializes in designing and producing thin-film, multi-layer optical filters. This acquisition adds to IDEX’s diverse range of optical technology offerings.
Iridian provides its services to markets such as laser communications, telecommunications, and life sciences. It supports a product’s entire lifecycle, from initial prototyping to high-volume manufacturing. The company is now a part of IDEX Optical Technologies, which is under the Health & Science Technology segment.
This acquisition is in line with IDEX’s aim to expand its product portfolio and seize business opportunities through the addition of assets. In November 2022, IDEX acquired Muon Group, which expanded its platform of precision technology business in the Health & Science Technologies segment. The acquisition of KZValve in May 2022 strengthened fluid management solutions in IDEX’s Banjo Corporation business by adding KZValve’s expertise in waterproof motorized valve solutions and innovative offerings.
Zacks Rank & Key Picks
IDEX Corporation is currently ranked #3 (Hold) by Zacks. Some better-ranked stocks in the Manufacturing – General Industrial industry are as follows:
- Flowserve: With a Zacks Rank #1 (Strong Buy), Flowserve boasts an estimated earnings growth rate of 64.5% for the current year and has gained 15.1% in a year. The company has delivered a trailing four-quarter earnings surprise of 2.5% on average.
- Ingersoll Rand: With a Zacks Rank #1, Ingersoll Rand has an estimated earnings growth rate of 13.1% and has rallied 31.8% in a year. The company delivered a trailing four-quarter earnings surprise of 12.6% on average.
- Graco Inc: Graco carries a Zacks Rank #1 and has appreciated 29.8% in a year. The company delivered a trailing four-quarter earnings surprise of 7.9% on average, and it has an estimated earnings growth rate of 16.3% for the current year.
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