Q4 2017 EPS Estimates for IDEXX Laboratories, Inc. Increased by Northcoast Research (IDXX)
IDEXX Laboratories, Inc. (NASDAQ:IDXX) – Analysts at Northcoast Research boosted their Q4 2017 EPS estimates for IDEXX Laboratories in a research note issued to investors on Tuesday. Northcoast Research analyst E. Snyder now anticipates that the company will earn $0.74 per share for the quarter, up from their previous forecast of $0.72.
Several other research firms also recently commented on IDXX. Zacks Investment Research downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $185.00 price target on shares of IDEXX Laboratories in a report on Monday, August 21st. Canaccord Genuity reaffirmed a “buy” rating and set a $180.00 price target on shares of IDEXX Laboratories in a report on Tuesday, August 22nd. BidaskClub downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, CL King raised IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $200.00 price target for the company in a report on Friday, July 28th. Two equities research 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. The company currently has a consensus rating of “Hold” and a consensus target price of $173.67.
IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Tuesday, October 31st. The company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.05. IDEXX Laboratories had a net margin of 14.55% and a negative return on equity of 336.64%. The business had revenue of $492.00 million during the quarter, compared to analysts’ expectations of $492.94 million. During the same period in the previous year, the company earned $0.62 earnings per share. IDEXX Laboratories’s revenue for the quarter was up 9.7% on a year-over-year basis.
Hedge funds and other institutional investors have recently modified their holdings of the stock. D.A. Davidson & CO. increased its position in shares of IDEXX Laboratories by 160.4% in the second quarter. D.A. Davidson & CO. now owns 625 shares of the company’s stock worth $100,000 after purchasing an additional 385 shares during the period. Sun Life Financial INC increased its position in shares of IDEXX Laboratories by 9,085.7% in the second quarter. Sun Life Financial INC now owns 643 shares of the company’s stock worth $104,000 after purchasing an additional 636 shares during the period. BB&T Investment Services Inc. bought a new position in shares of IDEXX Laboratories in the second quarter worth $104,000. Capital Advisors Ltd. LLC bought a new position in shares of IDEXX Laboratories in the second quarter worth $128,000. Finally, Coastline Trust Co bought a new position in shares of IDEXX Laboratories in the second quarter worth $202,000. Institutional investors own 87.63% of the company’s stock.
In other news, Chairman Jonathan W. Ayers sold 13,000 shares of IDEXX Laboratories stock in a transaction on Monday, August 28th. The stock was sold at an average price of $150.79, for a total transaction of $1,960,270.00. Following the completion of the sale, the chairman now owns 1,044,034 shares of the company’s stock, valued at $157,429,886.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Jonathan W. Ayers sold 58,000 shares of IDEXX Laboratories stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $155.00, for a total value of $8,990,000.00. Following the sale, the chairman now directly owns 1,043,034 shares of the company’s stock, valued at approximately $161,670,270. The disclosure for this sale can be found here. Insiders have sold 151,734 shares of company stock valued at $23,436,626 in the last three months. Insiders own 2.77% of the company’s stock.
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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