IDEXX Laboratories (NASDAQ:IDXX) issued an update on its FY18 earnings guidance on Thursday morning. The company provided EPS guidance of $4.16-$4.21 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.18. The company issued revenue guidance of $2.205-$2.215 billion, compared to the consensus revenue estimate of $2.22 billion.IDEXX Laboratories also updated its FY 2017 guidance to $4.61-4.75 EPS.
Shares of NASDAQ:IDXX traded down $0.15 during midday trading on Friday, hitting $204.91. The company had a trading volume of 1,039,374 shares, compared to its average volume of 606,965. IDEXX Laboratories has a twelve month low of $146.09 and a twelve month high of $256.22. The stock has a market cap of $18.37 billion, a PE ratio of 62.47, a P/E/G ratio of 1.94 and a beta of 0.82.
IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Thursday, November 1st. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.97 by $0.08. IDEXX Laboratories had a negative return on equity of 703.80% and a net margin of 14.50%. The firm had revenue of $545.00 million during the quarter, compared to analysts’ expectations of $545.66 million. During the same quarter last year, the firm earned $0.76 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, sell-side analysts forecast that IDEXX Laboratories will post 4.18 EPS for the current year.
IDXX has been the subject of several recent research reports. BidaskClub cut IDEXX Laboratories from a strong-buy rating to a buy rating in a report on Tuesday, September 11th. Zacks Investment Research cut IDEXX Laboratories from a buy rating to a hold rating in a report on Monday, July 9th. Stifel Nicolaus raised their target price on IDEXX Laboratories from $225.00 to $260.00 and gave the stock a buy rating in a research note on Tuesday, July 10th. Credit Suisse Group raised their target price on IDEXX Laboratories from $255.00 to $259.00 and gave the stock an outperform rating in a research note on Friday, August 17th. Finally, Piper Jaffray Companies raised their target price on IDEXX Laboratories to $236.00 and gave the stock an overweight rating in a research note on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. IDEXX Laboratories presently has a consensus rating of Buy and a consensus price target of $246.50.
In other IDEXX Laboratories news, Chairman Jonathan W. Ayers sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $245.50, for a total transaction of $7,365,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jacqueline Studer sold 8,598 shares of the firm’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $242.37, for a total value of $2,083,897.26. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,129 shares of company stock valued at $17,159,219. 2.56% of the stock is owned by insiders.
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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