$493.63 Million in Sales Expected for IDEXX Laboratories, Inc. (IDXX) This Quarter
Wall Street analysts predict that IDEXX Laboratories, Inc. (NASDAQ:IDXX) will post $493.63 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for IDEXX Laboratories’ earnings. The highest sales estimate is $499.90 million and the lowest is $490.40 million. IDEXX Laboratories posted sales of $448.31 million in the same quarter last year, which would indicate a positive year over year growth rate of 10.1%. The firm is scheduled to announce its next earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that IDEXX Laboratories will report full year sales of $493.63 million for the current year, with estimates ranging from $1.95 billion to $1.96 billion. For the next year, analysts forecast that the company will post sales of $2.14 billion per share, with estimates ranging from $2.10 billion to $2.17 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for IDEXX Laboratories.
IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.10. The firm had revenue of $508.90 million during the quarter, compared to analyst estimates of $502.44 million. IDEXX Laboratories had a net margin of 14.13% and a negative return on equity of 473.46%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 EPS.
A number of brokerages have recently issued reports on IDXX. Stifel Nicolaus reissued a “buy” rating and issued a $185.00 price objective on shares of IDEXX Laboratories in a research note on Wednesday, August 2nd. Zacks Investment Research cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. Canaccord Genuity reissued a “buy” rating and issued a $180.00 price objective on shares of IDEXX Laboratories in a research note on Tuesday, June 13th. Bank of America Corporation raised shares of IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $175.00 price objective for the company in a research note on Wednesday, August 23rd. Finally, BidaskClub cut shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $174.00.
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IDEXX Laboratories (IDXX) opened at 158.84 on Friday. IDEXX Laboratories has a 52-week low of $102.45 and a 52-week high of $173.01. The stock has a market capitalization of $13.86 billion, a price-to-earnings ratio of 54.64 and a beta of 0.49. The stock’s 50 day moving average is $155.34 and its 200-day moving average is $158.76.
In related news, CEO Jonathan W. Ayers sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $154.62, for a total transaction of $3,092,400.00. Following the completion of the transaction, the chief executive officer now directly owns 1,043,034 shares of the company’s stock, valued at $161,273,917.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Jonathan W. Ayers sold 18,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $155.22, for a total transaction of $2,793,960.00. The disclosure for this sale can be found here. Insiders have sold 151,734 shares of company stock valued at $23,436,626 over the last ninety days. 2.77% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of IDXX. D.A. Davidson & CO. grew its stake in IDEXX Laboratories by 160.4% during the second quarter. D.A. Davidson & CO. now owns 625 shares of the company’s stock valued at $100,000 after acquiring an additional 385 shares in the last quarter. Sun Life Financial INC grew its stake in IDEXX Laboratories by 9,085.7% during the second quarter. Sun Life Financial INC now owns 643 shares of the company’s stock valued at $104,000 after acquiring an additional 636 shares in the last quarter. BB&T Investment Services Inc. purchased a new position in IDEXX Laboratories during the second quarter valued at $104,000. Bronfman E.L. Rothschild L.P. grew its stake in IDEXX Laboratories by 2.3% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 770 shares of the company’s stock valued at $119,000 after acquiring an additional 17 shares in the last quarter. Finally, Capital Advisors Ltd. LLC purchased a new position in IDEXX Laboratories during the second quarter valued at $128,000. 87.73% of the stock is owned by institutional investors.
IDEXX Laboratories Company Profile
IDEXX Laboratories, Inc develops, manufactures and distributes products and provides services for the companion animal veterinary, livestock and poultry, dairy and water testing markets. The Company also sells a line of portable electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market.
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