Zacks: Analysts Expect IDEXX Laboratories, Inc. (IDXX) Will Announce Quarterly Sales of $491.02 Million

Equities research analysts expect IDEXX Laboratories, Inc. (NASDAQ:IDXX) to announce sales of $491.02 million for the current quarter, Zacks reports. Four analysts have provided estimates for IDEXX Laboratories’ earnings, with the lowest sales estimate coming in at $487.10 million and the highest estimate coming in at $494.68 million. IDEXX Laboratories reported sales of $443.00 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.8%. The firm is scheduled to announce its next earnings results before the market opens on Thursday, February 1st.

According to Zacks, analysts expect that IDEXX Laboratories will report full year sales of $491.02 million for the current fiscal year, with estimates ranging from $1.95 billion to $1.96 billion. For the next financial year, analysts anticipate that the business will report sales of $2.16 billion per share, with estimates ranging from $2.14 billion to $2.18 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for IDEXX Laboratories.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Tuesday, October 31st. The company reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.05. The company had revenue of $492.00 million for the quarter, compared to analyst estimates of $492.94 million. IDEXX Laboratories had a net margin of 14.55% and a negative return on equity of 336.64%. IDEXX Laboratories’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the business earned $0.62 EPS.

A number of equities analysts have weighed in on the stock. Canaccord Genuity reiterated a “buy” rating and issued a $180.00 price target on shares of IDEXX Laboratories in a report on Friday, October 6th. Aegis reiterated a “sell” rating on shares of IDEXX Laboratories in a report on Friday, December 8th. Zacks Investment Research upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a report on Tuesday, October 24th. Stifel Nicolaus reiterated a “buy” rating and issued a $185.00 price target on shares of IDEXX Laboratories in a report on Tuesday, October 24th. Finally, Piper Jaffray Companies started coverage on shares of IDEXX Laboratories in a report on Tuesday, January 16th. They set an “overweight” rating and a $200.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $177.43.

In related news, CEO Jonathan W. Ayers sold 2,160 shares of IDEXX Laboratories stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $167.03, for a total transaction of $360,784.80. Following the transaction, the chief executive officer now owns 1,077,112 shares in the company, valued at approximately $179,910,017.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Giovani Twigge sold 2,000 shares of IDEXX Laboratories stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $156.07, for a total transaction of $312,140.00. The disclosure for this sale can be found here. Insiders have sold a total of 130,160 shares of company stock worth $20,019,685 in the last 90 days. Company insiders own 2.77% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. National Asset Management Inc. lifted its holdings in shares of IDEXX Laboratories by 2.1% during the 2nd quarter. National Asset Management Inc. now owns 2,051 shares of the company’s stock valued at $332,000 after acquiring an additional 42 shares in the last quarter. Advisor Group Inc. increased its stake in IDEXX Laboratories by 1.1% during the 2nd quarter. Advisor Group Inc. now owns 4,998 shares of the company’s stock worth $732,000 after buying an additional 52 shares during the period. QS Investors LLC increased its stake in IDEXX Laboratories by 1.5% during the 2nd quarter. QS Investors LLC now owns 4,068 shares of the company’s stock worth $657,000 after buying an additional 60 shares during the period. Thrivent Financial For Lutherans increased its stake in IDEXX Laboratories by 3.1% during the 2nd quarter. Thrivent Financial For Lutherans now owns 3,340 shares of the company’s stock worth $539,000 after buying an additional 100 shares during the period. Finally, Ropes Wealth Advisors LLC increased its stake in IDEXX Laboratories by 4.1% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 5,040 shares of the company’s stock worth $814,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 86.66% of the company’s stock.

IDEXX Laboratories (NASDAQ IDXX) opened at $180.63 on Friday. The firm has a market cap of $15,754.37, a price-to-earnings ratio of 58.46, a price-to-earnings-growth ratio of 2.43 and a beta of 0.42. IDEXX Laboratories has a 1-year low of $116.54 and a 1-year high of $180.88. The company has a quick ratio of 0.77, a current ratio of 0.95 and a debt-to-equity ratio of -12.48.

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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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