Wall Street brokerages expect IDEXX Laboratories, Inc. (NASDAQ:IDXX) to announce $627.97 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided 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 posted sales of $580.75 million in the same quarter last year, which suggests a positive year over year growth rate of 8.1%. The firm is expected to report its next quarterly earnings report on Wednesday, August 7th.
On average, analysts expect that IDEXX Laboratories will report full year sales of $2.41 billion for the current financial year, with estimates ranging from $2.40 billion to $2.42 billion. For the next financial year, analysts expect that the business will report sales of $2.66 billion, with estimates ranging from $2.65 billion to $2.68 billion. Zacks’ sales averages are an average based on a survey of analysts that cover IDEXX Laboratories.
IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $1.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.13. IDEXX Laboratories had a net margin of 17.33% and a negative return on equity of 1,501.94%. The company had revenue of $576.06 million during the quarter, compared to analyst estimates of $575.04 million. During the same quarter last year, the business posted $1.01 EPS. IDEXX Laboratories’s quarterly revenue was up 7.1% compared to the same quarter last year.
A number of research analysts recently weighed in on the stock. BidaskClub upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Canaccord Genuity reduced their price objective on shares of IDEXX Laboratories from $255.00 to $254.00 and set a “buy” rating for the company in a research note on Tuesday, March 26th. Zacks Investment Research lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Guggenheim assumed coverage on shares of IDEXX Laboratories in a research note on Thursday, May 23rd. They issued a “buy” rating and a $276.00 price objective for the company. Finally, 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. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. IDEXX Laboratories has an average rating of “Buy” and a consensus price target of $268.86.
In other IDEXX Laboratories news, Director Rebecca M. Henderson sold 8,790 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $241.57, for a total value of $2,123,400.30. Following the completion of the transaction, the director now directly owns 27,486 shares of the company’s stock, valued at approximately $6,639,793.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Brian P. Mckeon sold 7,504 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $247.87, for a total transaction of $1,860,016.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,721 shares of company stock valued at $12,554,774. Insiders own 2.70% of the company’s stock.
A number of large investors have recently made changes to their positions in IDXX. One Wealth Advisors LLC lifted its holdings in shares of IDEXX Laboratories by 6.6% during the 4th quarter. One Wealth Advisors LLC now owns 1,349 shares of the company’s stock worth $251,000 after acquiring an additional 83 shares during the last quarter. United Services Automobile Association lifted its holdings in shares of IDEXX Laboratories by 3.9% during the 4th quarter. United Services Automobile Association now owns 88,189 shares of the company’s stock worth $16,405,000 after acquiring an additional 3,337 shares during the last quarter. Brown Advisory Inc. lifted its holdings in shares of IDEXX Laboratories by 7.9% during the 4th quarter. Brown Advisory Inc. now owns 222,516 shares of the company’s stock worth $41,393,000 after acquiring an additional 16,334 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in shares of IDEXX Laboratories during the 4th quarter worth $940,000. Finally, Piedmont Investment Advisors Inc. lifted its holdings in shares of IDEXX Laboratories by 1.9% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 7,633 shares of the company’s stock worth $1,707,000 after acquiring an additional 144 shares during the last quarter. 87.67% of the stock is owned by hedge funds and other institutional investors.
Shares of IDXX stock opened at $278.49 on Thursday. The business’s 50 day moving average is $263.29. The company has a debt-to-equity ratio of 14.81, a quick ratio of 0.74 and a current ratio of 1.01. IDEXX Laboratories has a 12-month low of $176.11 and a 12-month high of $281.30. The stock has a market cap of $23.96 billion, a price-to-earnings ratio of 65.37 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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