Zacks: Analysts Expect IDEXX Laboratories, Inc. (IDXX) Will Announce Earnings of $0.75 Per Share
Wall Street analysts expect that IDEXX Laboratories, Inc. (NASDAQ:IDXX) will post earnings of $0.75 per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for IDEXX Laboratories’ earnings, with estimates ranging from $0.74 to $0.76. IDEXX Laboratories reported earnings per share of $0.62 during the same quarter last year, which suggests a positive year over year growth rate of 21%. The firm is expected to report its next quarterly earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that IDEXX Laboratories will report full-year earnings of $3.17 per share for the current year, with EPS estimates ranging from $3.13 to $3.20. For the next financial year, analysts forecast that the firm will post earnings of $3.56 per share, with EPS estimates ranging from $3.51 to $3.60. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow IDEXX Laboratories.
IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.10. IDEXX Laboratories had a net margin of 14.13% and a negative return on equity of 473.46%. The company had revenue of $508.90 million during the quarter, compared to analyst estimates of $502.44 million. During the same quarter in the prior year, the business earned $0.74 earnings per share. The business’s quarterly revenue was up 9.1% compared to the same quarter last year.
A number of research firms have recently commented on IDXX. Stifel Nicolaus reissued a “buy” rating and issued a $185.00 price target on shares of IDEXX Laboratories in a research report on Wednesday, August 2nd. Zacks Investment Research lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. CL King raised shares of IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $200.00 price target on the stock in a research report on Friday, July 28th. Canaccord Genuity reissued a “buy” rating and issued a $180.00 price target on shares of IDEXX Laboratories in a research report on Tuesday, June 13th. Finally, BidaskClub lowered shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. IDEXX Laboratories currently has a consensus rating of “Hold” and a consensus target price of $173.80.
Shares of IDEXX Laboratories (NASDAQ:IDXX) opened at 155.49 on Tuesday. IDEXX Laboratories has a 52-week low of $102.45 and a 52-week high of $173.01. The firm has a market cap of $13.57 billion, a price-to-earnings ratio of 53.49 and a beta of 0.49. The stock has a 50 day moving average of $163.95 and a 200 day moving average of $154.43.
IDEXX Laboratories announced that its Board of Directors has initiated a stock repurchase program on Wednesday, May 3rd that authorizes the company to repurchase 3,000,000 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In other IDEXX Laboratories news, Director Lawrence D. Kingsley purchased 2,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were purchased at an average price of $151.76 per share, for a total transaction of $303,520.00. Following the completion of the purchase, the director now directly owns 3,344 shares of the company’s stock, valued at $507,485.44. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Giovani Twigge sold 2,572 shares of IDEXX Laboratories stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $166.90, for a total transaction of $429,266.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,572 shares of company stock worth $7,816,307. 2.77% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of IDXX. Vanguard Group Inc. increased its stake in IDEXX Laboratories by 24.3% in the first quarter. Vanguard Group Inc. now owns 8,910,555 shares of the company’s stock worth $1,377,660,000 after buying an additional 1,740,446 shares in the last quarter. BlackRock Inc. increased its stake in IDEXX Laboratories by 1,967.1% in the first quarter. BlackRock Inc. now owns 6,427,027 shares of the company’s stock worth $993,680,000 after buying an additional 6,116,102 shares in the last quarter. State Street Corp increased its stake in IDEXX Laboratories by 38.6% in the first quarter. State Street Corp now owns 3,911,739 shares of the company’s stock worth $604,793,000 after buying an additional 1,089,880 shares in the last quarter. Renaissance Technologies LLC increased its stake in IDEXX Laboratories by 59.1% in the first quarter. Renaissance Technologies LLC now owns 975,600 shares of the company’s stock worth $150,838,000 after buying an additional 362,400 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in IDEXX Laboratories by 41.6% in the first quarter. Geode Capital Management LLC now owns 921,279 shares of the company’s stock worth $142,250,000 after buying an additional 270,871 shares in the last quarter. Hedge funds and other institutional investors own 89.80% of the company’s stock.
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About IDEXX Laboratories
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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