Zacks: Brokerages Expect IDEXX Laboratories, Inc. (IDXX) Will Post Quarterly Sales of $627.97 Million

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Wall Street analysts expect that IDEXX Laboratories, Inc. (NASDAQ:IDXX) will post sales of $627.97 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for IDEXX Laboratories’ earnings, with the highest sales estimate coming in at $629.22 million and the lowest estimate coming in at $626.10 million. IDEXX Laboratories posted sales of $580.75 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.1%. The firm is expected to report its next earnings report on Wednesday, August 7th.

On average, analysts expect that IDEXX Laboratories will report full year sales of $2.41 billion for the current year, with estimates ranging from $2.40 billion to $2.42 billion. For the next fiscal year, analysts forecast that the company will report sales of $2.66 billion, with estimates ranging from $2.65 billion to $2.68 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow IDEXX Laboratories.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Wednesday, May 1st. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.13. IDEXX Laboratories had a net margin of 17.33% and a return on equity of 354,783.84%. The firm had revenue of $576.06 million during the quarter, compared to analyst estimates of $575.04 million. During the same quarter in the previous year, the business earned $1.01 EPS. The business’s quarterly revenue was up 7.1% compared to the same quarter last year.

Several equities analysts have recently issued reports on the stock. Guggenheim assumed coverage on shares of IDEXX Laboratories in a report on Thursday. They issued a “buy” rating and a $276.00 price target for the company. BidaskClub raised shares of IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 7th. Zacks Investment Research raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $271.00 price target for the company in a report on Friday, May 3rd. Finally, Canaccord Genuity boosted their price target on shares of IDEXX Laboratories from $255.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $256.71.

In related news, VP Jacqueline Studer sold 2,529 shares of the business’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $210.57, for a total value of $532,531.53. Following the sale, the vice president now directly owns 6,918 shares of the company’s stock, valued at approximately $1,456,723.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Jonathan W. Ayers sold 28,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $249.02, for a total transaction of $6,972,560.00. The disclosure for this sale can be found here. Insiders sold a total of 52,150 shares of company stock worth $12,754,596 over the last ninety days. 2.70% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of IDXX. Norges Bank bought a new stake in IDEXX Laboratories in the 4th quarter valued at $148,632,000. American Century Companies Inc. lifted its position in IDEXX Laboratories by 111.2% during the 1st quarter. American Century Companies Inc. now owns 1,483,074 shares of the company’s stock worth $331,615,000 after buying an additional 780,846 shares in the last quarter. Marshall Wace North America L.P. lifted its position in IDEXX Laboratories by 1,086.6% during the 1st quarter. Marshall Wace North America L.P. now owns 404,041 shares of the company’s stock worth $90,344,000 after buying an additional 369,991 shares in the last quarter. FMR LLC lifted its position in IDEXX Laboratories by 120.7% during the 4th quarter. FMR LLC now owns 561,266 shares of the company’s stock worth $104,407,000 after buying an additional 306,919 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in IDEXX Laboratories by 58.8% during the 4th quarter. Principal Financial Group Inc. now owns 787,832 shares of the company’s stock worth $146,551,000 after buying an additional 291,795 shares in the last quarter. 88.58% of the stock is currently owned by institutional investors and hedge funds.

Shares of IDXX stock traded up $2.54 on Friday, hitting $256.11. The stock had a trading volume of 372,165 shares, compared to its average volume of 507,514. IDEXX Laboratories has a twelve month low of $176.11 and a twelve month high of $258.42. The firm has a market capitalization of $22.04 billion, a price-to-earnings ratio of 60.12 and a beta of 0.97. The company has a quick ratio of 0.74, a current ratio of 1.01 and a debt-to-equity ratio of 14.81.

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. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.

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