Wall Street brokerages expect that IDEXX Laboratories, Inc. (NASDAQ:IDXX) will announce sales of $597.35 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for IDEXX Laboratories’ earnings. The lowest sales estimate is $596.90 million and the highest is $597.65 million. IDEXX Laboratories posted sales of $545.45 million during the same quarter last year, which suggests a positive year over year growth rate of 9.5%. The company is scheduled to announce its next quarterly earnings report on Thursday, November 7th.
On average, analysts expect that IDEXX Laboratories will report full year sales of $2.40 billion for the current financial year, with estimates ranging from $2.39 billion to $2.40 billion. For the next year, analysts forecast that the business will post sales of $2.64 billion, with estimates ranging from $2.63 billion to $2.65 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow IDEXX Laboratories.
IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Thursday, August 1st. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.37 by $0.06. IDEXX Laboratories had a return on equity of 765.45% and a net margin of 17.78%. The business had revenue of $620.10 million for the quarter, compared to the consensus estimate of $627.10 million. During the same period in the previous year, the business earned $1.23 EPS. IDEXX Laboratories’s revenue was up 6.8% compared to the same quarter last year.
A number of brokerages have recently issued reports on IDXX. Bank of America set a $300.00 price objective on shares of IDEXX Laboratories and gave the company a “buy” rating in a research note on Friday, June 21st. Canaccord Genuity reiterated a “buy” rating and set a $285.00 target price on shares of IDEXX Laboratories in a research report on Friday, August 2nd. Stifel Nicolaus increased their target price on IDEXX Laboratories from $255.00 to $295.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. BidaskClub lowered IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, Credit Suisse Group increased their target price on IDEXX Laboratories from $282.00 to $293.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. IDEXX Laboratories currently has an average rating of “Buy” and an average target price of $285.29.
IDXX traded down $5.58 during midday trading on Tuesday, reaching $265.47. The company had a trading volume of 465,068 shares, compared to its average volume of 453,646. The company has a debt-to-equity ratio of 4.49, a quick ratio of 0.83 and a current ratio of 1.15. The stock has a market cap of $23.04 billion, a PE ratio of 62.32 and a beta of 0.85. IDEXX Laboratories has a 12-month low of $176.11 and a 12-month high of $292.17. The business has a 50-day moving average price of $279.08 and a two-hundred day moving average price of $252.99.
In other news, Chairman Jonathan W. Ayers sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $262.26, for a total value of $5,245,200.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Giovani Twigge sold 2,300 shares of IDEXX Laboratories stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $274.44, for a total value of $631,212.00. The disclosure for this sale can be found here. Insiders sold a total of 73,305 shares of company stock valued at $19,402,442 in the last quarter. Company insiders own 2.70% of the company’s stock.
Several large investors have recently modified their holdings of IDXX. Altshuler Shaham Ltd bought a new position in shares of IDEXX Laboratories in the 2nd quarter worth about $28,000. Cornerstone Advisors Inc. boosted its position in IDEXX Laboratories by 100.0% during the second quarter. Cornerstone Advisors Inc. now owns 140 shares of the company’s stock worth $39,000 after purchasing an additional 70 shares in the last quarter. Captrust Financial Advisors boosted its position in IDEXX Laboratories by 32.5% during the second quarter. Captrust Financial Advisors now owns 151 shares of the company’s stock worth $42,000 after purchasing an additional 37 shares in the last quarter. Monetary Management Group Inc. purchased a new stake in IDEXX Laboratories during the first quarter worth $45,000. Finally, Personal Wealth Partners purchased a new stake in IDEXX Laboratories during the second quarter worth $52,000. Institutional investors and hedge funds own 87.04% 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. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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