IDEXX Laboratories, Inc. (IDXX) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS
IDEXX Laboratories, Inc. (NASDAQ:IDXX) issued its earnings results on Tuesday. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.74 by $0.05, Bloomberg Earnings reports. The firm had revenue of $492.00 million during the quarter, compared to analysts’ expectations of $492.94 million. IDEXX Laboratories had a negative return on equity of 473.46% and a net margin of 14.13%. IDEXX Laboratories’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business earned $0.62 earnings per share. IDEXX Laboratories updated its FY17 guidance to $3.22-$3.26 EPS and its FY18 guidance to $3.50-$3.62 EPS.
IDEXX Laboratories (NASDAQ IDXX) traded down 3.94% on Wednesday, reaching $159.62. The company’s stock had a trading volume of 426,712 shares. IDEXX Laboratories has a 12 month low of $103.26 and a 12 month high of $173.01. The company has a 50-day moving average price of $159.60 and a 200 day moving average price of $160.72. The company has a market cap of $13.93 billion, a P/E ratio of 54.91 and a beta of 0.48.
IDXX has been the subject of several research reports. BidaskClub cut IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Zacks Investment Research cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. Stifel Nicolaus reiterated a “buy” rating and set a $185.00 price objective on shares of IDEXX Laboratories in a research note on Friday, July 14th. CL King upgraded IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $200.00 price objective for the company in a research note on Friday, July 28th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $180.00 price objective on shares of IDEXX Laboratories in a research note on Friday, October 6th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $173.67.
In related news, Chairman Jonathan W. Ayers sold 58,000 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $155.00, for a total transaction 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 approximately $161,670,270. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Jonathan W. Ayers sold 13,000 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $150.79, for a total value of $1,960,270.00. Following the sale, the chairman now owns 1,044,034 shares of the company’s stock, valued at $157,429,886.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 151,734 shares of company stock valued at $23,436,626. Corporate insiders own 2.77% of the company’s stock.
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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