Analysts expect IDEXX Laboratories, Inc. (NASDAQ:IDXX) to post $525.03 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for IDEXX Laboratories’ earnings, with estimates ranging from $522.70 million to $527.53 million. IDEXX Laboratories reported sales of $462.02 million in the same quarter last year, which would suggest a positive year over year growth rate of 13.6%. The business is scheduled to report its next earnings results before the market opens on Friday, May 4th.
On average, analysts expect that IDEXX Laboratories will report full year sales of $2.22 billion for the current financial year, with estimates ranging from $2.20 billion to $2.23 billion. For the next financial year, analysts expect that the firm will report sales of $2.44 billion per share, with estimates ranging from $2.40 billion to $2.46 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover IDEXX Laboratories.
IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. The firm had revenue of $506.00 million during the quarter, compared to the consensus estimate of $490.51 million. IDEXX Laboratories had a negative return on equity of 432.19% and a net margin of 13.36%. IDEXX Laboratories’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.58 earnings per share.
A number of brokerages recently commented on IDXX. Canaccord Genuity reissued a “buy” rating and issued a $210.00 price target on shares of IDEXX Laboratories in a report on Monday, January 29th. Piper Jaffray began coverage on IDEXX Laboratories in a report on Tuesday, January 16th. They issued an “overweight” rating and a $200.00 price target for the company. BidaskClub raised IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 7th. Bank of America increased their price target on IDEXX Laboratories from $200.00 to $220.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Two equities research analysts have rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $194.00.
IDXX traded down $1.07 on Monday, reaching $196.75. The company’s stock had a trading volume of 344,626 shares, compared to its average volume of 411,609. The company has a market capitalization of $17,222.59, a P/E ratio of 59.98, a P/E/G ratio of 2.42 and a beta of 0.59. IDEXX Laboratories has a 1 year low of $146.09 and a 1 year high of $207.14. The company has a debt-to-equity ratio of -11.26, a quick ratio of 0.80 and a current ratio of 0.97.
In other news, Director Bruce L. Claflin acquired 1,000 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were purchased at an average price of $179.58 per share, for a total transaction of $179,580.00. Following the completion of the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $179,580. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian P. Mckeon sold 6,602 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $181.36, for a total value of $1,197,338.72. Following the sale, the vice president now owns 47,040 shares in the company, valued at approximately $8,531,174.40. The disclosure for this sale can be found here. Insiders have sold 71,576 shares of company stock worth $12,860,017 in the last 90 days. 2.56% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. raised its stake in IDEXX Laboratories by 1,000.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,100 shares of the company’s stock valued at $172,000 after buying an additional 1,000 shares in the last quarter. SignalPoint Asset Management LLC acquired a new stake in shares of IDEXX Laboratories during the 4th quarter worth approximately $200,000. Ledyard National Bank raised its position in shares of IDEXX Laboratories by 58.9% during the 4th quarter. Ledyard National Bank now owns 1,295 shares of the company’s stock worth $203,000 after purchasing an additional 480 shares during the period. Unio Capital LLC acquired a new stake in shares of IDEXX Laboratories during the 4th quarter worth approximately $203,000. Finally, IBM Retirement Fund acquired a new stake in shares of IDEXX Laboratories during the 4th quarter worth approximately $213,000. Hedge funds and other institutional investors own 87.45% of the company’s stock.
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IDEXX Laboratories Company Profile
IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. It operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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