IDEXX Laboratories (NASDAQ:IDXX) updated its FY 2018 earnings guidance on Thursday. The company provided EPS guidance of $4.16-4.21 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.18. The company issued revenue guidance of $2.205-2.215 billion, compared to the consensus revenue estimate of $2.22 billion.IDEXX Laboratories also updated its FY 2017 guidance to $4.61-4.75 EPS.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of IDEXX Laboratories from a hold rating to a buy rating and set a $274.00 target price for the company in a research report on Thursday, August 2nd. Piper Jaffray Companies increased their target price on shares of IDEXX Laboratories to $236.00 and gave the company an overweight rating in a research report on Wednesday, August 1st. Credit Suisse Group increased their target price on shares of IDEXX Laboratories from $255.00 to $259.00 and gave the company an outperform rating in a research report on Friday, August 17th. BidaskClub lowered shares of IDEXX Laboratories from a strong-buy rating to a buy rating in a report on Tuesday, July 31st. Finally, Stifel Nicolaus upped their price objective on shares of IDEXX Laboratories from $225.00 to $260.00 and gave the company a buy rating in a report on Tuesday, July 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. IDEXX Laboratories presently has an average rating of Buy and a consensus price target of $244.00.
Shares of IDXX opened at $212.12 on Thursday. IDEXX Laboratories has a 12-month low of $146.09 and a 12-month high of $256.22. The stock has a market capitalization of $18.20 billion, a P/E ratio of 64.67, a PEG ratio of 1.92 and a beta of 0.64.
IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Wednesday, August 1st. The company reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.06. IDEXX Laboratories had a net margin of 14.50% and a negative return on equity of 703.80%. The firm had revenue of $580.75 million during the quarter, compared to analyst estimates of $574.68 million. During the same quarter in the prior year, the firm posted $0.87 earnings per share. IDEXX Laboratories’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, research analysts expect that IDEXX Laboratories will post 4.18 EPS for the current fiscal year.
In related news, Director Bruce L. Claflin bought 415 shares of the stock in a transaction on Friday, August 3rd. The stock was bought at an average price of $242.12 per share, with a total value of $100,479.80. Following the completion of the purchase, the director now directly owns 1,415 shares in the company, valued at approximately $342,599.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jonathan W. Ayers sold 7,000 shares of the stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $243.20, for a total transaction of $1,702,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,129 shares of company stock valued at $17,159,219. 2.56% of the stock is currently owned by insiders.
About IDEXX Laboratories
IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. It operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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