Wall Street analysts expect that IDEXX Laboratories, Inc. (NASDAQ:IDXX) will announce $1.18 earnings per share for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for IDEXX Laboratories’ earnings. The highest EPS estimate is $1.21 and the lowest is $1.16. IDEXX Laboratories reported earnings per share of $0.95 during the same quarter last year, which would indicate a positive year over year growth rate of 24.2%. The company is scheduled to issue its next quarterly earnings report on Tuesday, August 7th.
On average, analysts expect that IDEXX Laboratories will report full-year earnings of $4.17 per share for the current fiscal year, with EPS estimates ranging from $4.14 to $4.21. For the next fiscal year, analysts forecast that the firm will report earnings of $4.90 per share, with EPS estimates ranging from $4.80 to $5.03. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover IDEXX Laboratories.
IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Friday, May 4th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.92 by $0.09. IDEXX Laboratories had a net margin of 13.87% and a negative return on equity of 530.24%. The firm had revenue of $537.60 million for the quarter, compared to analysts’ expectations of $525.14 million. During the same period in the previous year, the firm posted $0.77 EPS. The company’s revenue for the quarter was up 16.4% on a year-over-year basis.
Several brokerages have commented on IDXX. Zacks Investment Research raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $255.00 price target on the stock in a research report on Monday, June 18th. Canaccord Genuity reissued a “positive” rating and set a $215.00 price target on shares of IDEXX Laboratories in a research report on Monday, May 7th. Credit Suisse Group boosted their price target on shares of IDEXX Laboratories from $209.00 to $228.00 and gave the stock an “outperform” rating in a research report on Friday, June 1st. ValuEngine raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Finally, BidaskClub cut shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 9th. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $222.43.
NASDAQ:IDXX traded down $4.59 on Friday, hitting $212.75. 20,452 shares of the company’s stock were exchanged, compared to its average volume of 434,569. The company has a debt-to-equity ratio of -12.43, a current ratio of 0.96 and a quick ratio of 0.72. IDEXX Laboratories has a 52 week low of $146.09 and a 52 week high of $229.01. The stock has a market capitalization of $18.89 billion, a PE ratio of 65.80, a price-to-earnings-growth ratio of 2.58 and a beta of 0.64.
In other news, Director William T. End sold 9,470 shares of the company’s stock in a transaction dated Thursday, May 10th. The shares were sold at an average price of $208.36, for a total value of $1,973,169.20. Following the sale, the director now directly owns 31,786 shares of the company’s stock, valued at approximately $6,622,930.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Jacqueline Studer sold 475 shares of the company’s stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $209.98, for a total transaction of $99,740.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,571 shares of company stock worth $2,405,215. 2.56% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC raised its holdings in IDEXX Laboratories by 18.2% in the 4th quarter. Renaissance Technologies LLC now owns 1,879,804 shares of the company’s stock valued at $293,964,000 after acquiring an additional 290,004 shares during the period. Bank of New York Mellon Corp raised its holdings in IDEXX Laboratories by 19.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,141,206 shares of the company’s stock valued at $178,462,000 after acquiring an additional 185,981 shares during the period. Geode Capital Management LLC raised its holdings in IDEXX Laboratories by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 954,584 shares of the company’s stock valued at $148,977,000 after acquiring an additional 16,313 shares during the period. Capital Counsel LLC NY raised its holdings in IDEXX Laboratories by 1.3% in the 4th quarter. Capital Counsel LLC NY now owns 742,729 shares of the company’s stock valued at $116,148,000 after acquiring an additional 9,666 shares during the period. Finally, William Blair Investment Management LLC raised its holdings in IDEXX Laboratories by 219.1% in the 4th quarter. William Blair Investment Management LLC now owns 728,725 shares of the company’s stock valued at $113,958,000 after acquiring an additional 500,359 shares during the period. 86.28% of the stock is currently owned by institutional investors.
About IDEXX Laboratories
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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