Analysts Expect IDEXX Laboratories, Inc. (IDXX) Will Announce Quarterly Sales of $493.63 Million
Wall Street analysts expect IDEXX Laboratories, Inc. (NASDAQ:IDXX) to announce sales of $493.63 million for the current 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 reported sales of $448.31 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 10.1%. The business is expected to announce its next quarterly earnings report on Tuesday, November 7th.
On average, analysts expect that IDEXX Laboratories will report full-year sales of $493.63 million for the current fiscal year, with estimates ranging from $1.95 billion to $1.96 billion. For the next fiscal year, analysts forecast that the company will report sales of $2.14 billion per share, with estimates ranging from $2.10 billion to $2.17 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for IDEXX Laboratories.
IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $502.44 million. During the same period last year, the firm posted $0.74 earnings per share. The business’s quarterly revenue was up 9.1% compared to the same quarter last year.
IDXX has been the subject of several recent analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $185.00 price objective on shares of IDEXX Laboratories in a research report on Wednesday, August 2nd. Zacks Investment Research raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $177.00 target price for the company in a research note on Tuesday, June 13th. Canaccord Genuity restated a “buy” rating and issued a $180.00 target price on shares of IDEXX Laboratories in a report on Tuesday, June 13th. Bank of America Corporation upgraded shares of IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $175.00 target price on the stock in a report on Wednesday, August 23rd. Finally, BidaskClub cut 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, one has given a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $174.00.
In other IDEXX Laboratories news, Chairman Jonathan W. Ayers sold 58,000 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $155.00, for a total value of $8,990,000.00. Following the completion of the sale, the chairman now directly owns 1,043,034 shares in the company, valued at $161,670,270. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lawrence D. Kingsley purchased 2,000 shares of IDEXX Laboratories stock in a transaction on Thursday, August 3rd. The stock was bought at an average price of $151.76 per share, with a total value of $303,520.00. Following the completion of the acquisition, the director now directly owns 3,344 shares of the company’s stock, valued at approximately $507,485.44. The disclosure for this purchase can be found here. Insiders sold a total of 151,734 shares of company stock valued at $23,436,626 in the last quarter. 2.77% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in IDXX. UBS Asset Management Americas Inc. boosted its position in shares of IDEXX Laboratories by 21.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 233,209 shares of the company’s stock worth $36,056,000 after purchasing an additional 41,801 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of IDEXX Laboratories by 46.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 6,024 shares of the company’s stock valued at $931,000 after buying an additional 1,901 shares during the period. Nordea Investment Management AB grew its stake in shares of IDEXX Laboratories by 136.6% in the 1st quarter. Nordea Investment Management AB now owns 4,477 shares of the company’s stock valued at $692,000 after buying an additional 2,585 shares during the period. Victory Capital Management Inc. grew its stake in shares of IDEXX Laboratories by 11.8% in the 1st quarter. Victory Capital Management Inc. now owns 8,534 shares of the company’s stock valued at $1,319,000 after buying an additional 901 shares during the period. Finally, Alliancebernstein L.P. grew its stake in shares of IDEXX Laboratories by 136.0% in the 1st quarter. Alliancebernstein L.P. now owns 153,576 shares of the company’s stock valued at $23,744,000 after buying an additional 88,499 shares during the period. Hedge funds and other institutional investors own 87.64% of the company’s stock.
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Shares of IDEXX Laboratories (NASDAQ IDXX) opened at 154.40 on Wednesday. IDEXX Laboratories has a 52-week low of $102.45 and a 52-week high of $173.01. The company has a market cap of $13.48 billion, a PE ratio of 53.11 and a beta of 0.48. The company has a 50 day moving average of $155.45 and a 200-day moving average of $159.68.
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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