IDEXX Laboratories, Inc. (NASDAQ:IDXX) – William Blair decreased their FY2018 earnings per share estimates for IDEXX Laboratories in a report released on Thursday, November 1st. William Blair analyst R. Daniels now expects that the company will post earnings of $4.18 per share for the year, down from their prior estimate of $4.20. William Blair also issued estimates for IDEXX Laboratories’ Q4 2018 earnings at $0.89 EPS.
IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Thursday, November 1st. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.08. The business had revenue of $545.00 million for the quarter, compared to the consensus estimate of $545.66 million. IDEXX Laboratories had a net margin of 15.19% and a negative return on equity of 994.76%. IDEXX Laboratories’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the company posted $0.76 EPS.
IDXX has been the topic of several other reports. BidaskClub upgraded shares of IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 1st. Canaccord Genuity dropped their target price on shares of IDEXX Laboratories from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Monday. Bank of America dropped their target price on shares of IDEXX Laboratories from $275.00 to $235.00 and set a “buy” rating on the stock in a report on Friday, November 2nd. Stifel Nicolaus raised their target price on shares of IDEXX Laboratories from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, July 10th. Finally, Piper Jaffray Companies raised their target price on shares of IDEXX Laboratories to $236.00 and gave the stock an “overweight” rating in a report on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $252.33.
Shares of NASDAQ:IDXX opened at $202.27 on Monday. The company has a market capitalization of $17.74 billion, a P/E ratio of 61.67, a PEG ratio of 1.87 and a beta of 0.82. IDEXX Laboratories has a fifty-two week low of $146.09 and a fifty-two week high of $256.22.
In other IDEXX Laboratories news, CEO Jonathan W. Ayers sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $243.20, for a total transaction of $1,702,400.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael Lane sold 5,912 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $243.78, for a total transaction of $1,441,227.36. The disclosure for this sale can be found here. Insiders have sold a total of 61,531 shares of company stock worth $15,075,322 over the last 90 days. Corporate insiders own 2.56% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of IDXX. Valeo Financial Advisors LLC acquired a new stake in shares of IDEXX Laboratories in the second quarter valued at approximately $134,000. Rehmann Capital Advisory Group raised its holdings in shares of IDEXX Laboratories by 44.9% in the second quarter. Rehmann Capital Advisory Group now owns 668 shares of the company’s stock valued at $146,000 after purchasing an additional 207 shares during the last quarter. HMS Capital Management LLC acquired a new stake in shares of IDEXX Laboratories in the third quarter valued at approximately $205,000. Winthrop Advisory Group LLC acquired a new stake in shares of IDEXX Laboratories in the second quarter valued at approximately $206,000. Finally, KCM Investment Advisors LLC acquired a new stake in shares of IDEXX Laboratories in the second quarter valued at approximately $210,000. Institutional investors own 91.27% of the company’s stock.
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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