Wall Street brokerages expect that IDEXX Laboratories, Inc. (NASDAQ:IDXX) will announce earnings per share of $0.98 for the current quarter, Zacks reports. Four analysts have issued estimates for IDEXX Laboratories’ earnings, with the highest EPS estimate coming in at $0.99 and the lowest estimate coming in at $0.96. IDEXX Laboratories posted earnings per share of $0.79 during the same quarter last year, which indicates a positive year-over-year growth rate of 24.1%. The company is expected to announce its next quarterly earnings report on Tuesday, October 30th.
According to Zacks, analysts expect that IDEXX Laboratories will report full-year earnings of $4.18 per share for the current year, with EPS estimates ranging from $4.15 to $4.20. For the next fiscal year, analysts anticipate that the company will post earnings of $4.85 per share, with EPS estimates ranging from $4.82 to $4.90. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for IDEXX Laboratories.
IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Wednesday, August 1st. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. The firm had revenue of $580.75 million during the quarter, compared to the consensus estimate of $574.68 million. IDEXX Laboratories had a negative return on equity of 703.80% and a net margin of 14.50%. IDEXX Laboratories’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.87 earnings per share.
A number of research analysts recently commented on the company. Zacks Investment Research downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Monday, August 6th. Credit Suisse Group increased their price target on IDEXX Laboratories from $228.00 to $231.00 and gave the company an “outperform” rating in a report on Thursday, June 21st. BidaskClub downgraded IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st. Piper Jaffray Companies increased their price target on IDEXX Laboratories to $236.00 and gave the company an “overweight” rating in a report on Wednesday, August 1st. Finally, Stifel Nicolaus increased their price target on IDEXX Laboratories from $225.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, July 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $244.00.
IDXX traded up $1.32 on Friday, reaching $243.34. The company’s stock had a trading volume of 4,212 shares, compared to its average volume of 429,831. The company has a market capitalization of $20.86 billion, a P/E ratio of 74.02, a P/E/G ratio of 2.20 and a beta of 0.64. IDEXX Laboratories has a 1 year low of $146.09 and a 1 year high of $256.22. The company has a debt-to-equity ratio of -14.77, a quick ratio of 0.73 and a current ratio of 0.96.
In other IDEXX Laboratories news, Chairman Jonathan W. Ayers sold 30,000 shares of the stock in a transaction that occurred 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 filing with the SEC, which is available at this link. Also, CEO Jonathan W. Ayers sold 7,000 shares of the stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $247.33, for a total value of $1,731,310.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,129 shares of company stock worth $17,159,219. 2.56% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in IDXX. Signaturefd LLC bought a new position in IDEXX Laboratories during the 1st quarter worth approximately $105,000. Three Peaks Capital Management LLC bought a new position in IDEXX Laboratories during the 1st quarter worth approximately $108,000. Valeo Financial Advisors LLC bought a new position in IDEXX Laboratories during the 2nd quarter worth approximately $134,000. Optimum Investment Advisors bought a new position in IDEXX Laboratories during the 1st quarter worth approximately $139,000. Finally, Rehmann Capital Advisory Group lifted its holdings in IDEXX Laboratories by 44.9% during the 2nd quarter. Rehmann Capital Advisory Group now owns 668 shares of the company’s stock worth $146,000 after buying an additional 207 shares during the last quarter. 91.18% of the stock is currently owned by institutional investors.
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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