Equities analysts expect IDEXX Laboratories, Inc. (NASDAQ:IDXX) to report sales of $627.97 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for IDEXX Laboratories’ earnings, with the highest sales estimate coming in at $629.22 million and the lowest estimate coming in at $626.10 million. IDEXX Laboratories reported sales of $580.75 million in the same quarter last year, which would indicate a positive year over year growth rate of 8.1%. The company is expected to report its next earnings results on Wednesday, August 7th.
On average, analysts expect that IDEXX Laboratories will report full year sales of $2.41 billion for the current fiscal year, with estimates ranging from $2.40 billion to $2.42 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.66 billion, with estimates ranging from $2.65 billion to $2.68 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover IDEXX Laboratories.
IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $1.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.13. The company had revenue of $576.06 million for the quarter, compared to analyst estimates of $575.04 million. IDEXX Laboratories had a negative return on equity of 1,501.94% and a net margin of 17.33%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.01 EPS.
IDXX has been the subject of a number of research reports. Bank of America set a $300.00 target price on shares of IDEXX Laboratories and gave the stock a “buy” rating in a report on Friday, June 21st. Guggenheim reiterated a “buy” rating and issued a $95.00 target price (up previously from $90.00) on shares of VF in a report on Thursday, May 23rd. BidaskClub upgraded shares of Northrim BanCorp from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Zacks Investment Research lowered shares of Inflarx from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Finally, Canaccord Genuity reiterated a “speculative buy” rating and set a GBX 70 ($0.91) target price on shares of Bacanora Lithium in a research report on Monday, July 1st. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $270.33.
In related news, VP Brian P. Mckeon sold 7,504 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $247.87, for a total transaction of $1,860,016.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Jonathan W. Ayers sold 28,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $249.02, for a total value of $6,972,560.00. The disclosure for this sale can be found here. Insiders sold a total of 50,721 shares of company stock worth $12,554,774 over the last three months. 2.70% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of IDXX. Monetary Management Group Inc. purchased a new position in IDEXX Laboratories during the 1st quarter valued at $45,000. Anderson Fisher LLC acquired a new position in shares of IDEXX Laboratories in the first quarter valued at about $70,000. Sontag Advisory LLC acquired a new position in shares of IDEXX Laboratories in the fourth quarter valued at about $79,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of IDEXX Laboratories by 37.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 361 shares of the company’s stock valued at $81,000 after purchasing an additional 99 shares during the period. Finally, Osborn Williams & Donohoe LLC purchased a new stake in shares of IDEXX Laboratories in the first quarter worth about $90,000. 87.67% of the stock is currently owned by hedge funds and other institutional investors.
Shares of IDXX stock traded up $3.02 on Thursday, reaching $285.55. 22,046 shares of the stock were exchanged, compared to its average volume of 476,403. The stock’s 50 day moving average price is $266.23. The company has a current ratio of 1.01, a quick ratio of 0.74 and a debt-to-equity ratio of 14.81. IDEXX Laboratories has a 1-year low of $176.11 and a 1-year high of $284.37. The stock has a market cap of $24.14 billion, a PE ratio of 67.01 and a beta of 0.86.
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. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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