IDEXX Laboratories, Inc. (NASDAQ:IDXX) Expected to Post Earnings of $1.86 Per Share

Wall Street brokerages expect IDEXX Laboratories, Inc. (NASDAQ:IDXX) to post $1.86 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for IDEXX Laboratories’ earnings, with the lowest EPS estimate coming in at $1.66 and the highest estimate coming in at $2.00. IDEXX Laboratories posted earnings per share of $1.69 in the same quarter last year, which would suggest a positive year-over-year growth rate of 10.1%. The firm is expected to issue its next quarterly earnings report on Thursday, November 4th.

According to Zacks, analysts expect that IDEXX Laboratories will report full-year earnings of $8.35 per share for the current year, with EPS estimates ranging from $8.32 to $8.40. For the next year, analysts expect that the firm will post earnings of $9.43 per share, with EPS estimates ranging from $9.09 to $9.67. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover IDEXX Laboratories.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Friday, July 30th. The company reported $2.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.01 by $0.33. IDEXX Laboratories had a return on equity of 115.28% and a net margin of 23.89%. The company had revenue of $826.14 million during the quarter, compared to the consensus estimate of $794.64 million. During the same quarter in the prior year, the firm posted $1.72 earnings per share. The firm’s revenue was up 29.6% compared to the same quarter last year.

Several research analysts have recently issued reports on IDXX shares. Barclays upped their price objective on IDEXX Laboratories from $616.00 to $750.00 and gave the company an “overweight” rating in a research note on Monday, August 2nd. Guggenheim cut IDEXX Laboratories from a “buy” rating to a “neutral” rating in a report on Monday, July 12th. Credit Suisse Group upped their target price on IDEXX Laboratories from $735.00 to $770.00 and gave the company an “outperform” rating in a report on Friday, August 13th. Finally, The Goldman Sachs Group upped their target price on IDEXX Laboratories from $550.00 to $610.00 and gave the company a “neutral” rating in a report on Tuesday, August 3rd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $643.80.

In related news, EVP Nimrata Hunt sold 538 shares of the stock in a transaction on Thursday, August 5th. The stock was sold at an average price of $703.00, for a total value of $378,214.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kathy V. Turner sold 2,250 shares of the firm’s stock in a transaction on Monday, August 30th. The shares were sold at an average price of $687.22, for a total value of $1,546,245.00. The disclosure for this sale can be found here. Insiders have sold a total of 26,886 shares of company stock worth $18,646,894 over the last 90 days. Company insiders own 2.06% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Meridian Wealth Partners LLC bought a new position in shares of IDEXX Laboratories during the 1st quarter worth $26,000. Parisi Gray Wealth Management bought a new position in IDEXX Laboratories in the 2nd quarter worth about $27,000. Wagner Wealth Management LLC bought a new position in IDEXX Laboratories in the 1st quarter worth about $29,000. TCI Wealth Advisors Inc. boosted its stake in IDEXX Laboratories by 34.0% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 71 shares of the company’s stock worth $45,000 after purchasing an additional 18 shares during the period. Finally, Newfound Research LLC bought a new position in IDEXX Laboratories in the 2nd quarter worth about $47,000. 84.70% of the stock is owned by hedge funds and other institutional investors.

Shares of IDEXX Laboratories stock traded up $3.41 on Wednesday, hitting $664.80. The stock had a trading volume of 10,219 shares, compared to its average volume of 400,608. The stock has a 50 day moving average of $677.42 and a 200 day moving average of $589.19. IDEXX Laboratories has a twelve month low of $347.54 and a twelve month high of $706.95. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.54. The firm has a market capitalization of $56.56 billion, a P/E ratio of 78.83, a PEG ratio of 4.10 and a beta of 0.92.

About IDEXX Laboratories

IDEXX Laboratories, Inc engages in the development, manufacture, and distribution of products and services for the animal veterinary, livestock and poultry, dairy and water testing markets. It operates through the following segments: CAG, Water, LPD, and Other. The CAG segment develops, designs, manufactures, and distributes products and performs services for veterinarians and the biomedical analytics market, primarily related to diagnostics and information management.

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