Oct 29 (Reuters) - Industrial equipment maker IDEX Corp ( IEX )

raised the lower end of its 2024 profit forecast on

Tuesday after beating third-quarter profit and revenue

expectations, driven by a recovery in demand within its health

and science division.

IDEX ( IEX ) now expects its full-year adjusted profit to be between

$7.85 and $7.90 per share, marginally higher than its previous

forecast of $7.80 to $7.90 per share.

The company's health and science technologies segment

includes components and equipment used in clinical diagnostics

and drug discovery, as well as in the food processing and

cosmetic manufacturing industries.

The segment saw a sales contraction of 2.2% in the third

quarter, compared to a decline of 35.7% in the second quarter.

"We saw a healthy organic increase in orders within our

Health & Science Technologies segment, strengthening our

business positioning," said CEO Eric Ashleman.

This uptick in demand was led by sellers looking to restock

inventories after a prolonged destocking cycle due to large

inventory accumulations during the COVID-19 pandemic.

Last week, peer Dover posted a 30% year-over-year

increase in revenue from biopharma equipment, such as connectors

and pumps. It also said that inventories were "mostly in-line"

with customer demand.

Quarterly adjusted earnings per share stood at $1.90,

compared with Wall Street estimates of $1.88.

Total revenue for the quarter ended September 30 was

$798.2 million, up 4.8% from a year earlier. Analysts, on

average, were expecting revenue of $791.25 million in the third

quarter, according to data compiled by LSEG.