Analysts Anticipate IDEXX Laboratories, Inc. (NASDAQ:IDXX) Will Announce Earnings of $1.23 Per Share

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Wall Street brokerages forecast that IDEXX Laboratories, Inc. (NASDAQ:IDXX) will report $1.23 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for IDEXX Laboratories’ earnings. The highest EPS estimate is $1.28 and the lowest is $1.17. IDEXX Laboratories reported earnings of $1.17 per share during the same quarter last year, which would indicate a positive year over year growth rate of 5.1%. The business is expected to announce its next quarterly earnings report on Wednesday, May 6th.

On average, analysts expect that IDEXX Laboratories will report full-year earnings of $5.49 per share for the current year, with EPS estimates ranging from $5.41 to $5.54. For the next financial year, analysts expect that the company will report earnings of $6.42 per share, with EPS estimates ranging from $6.35 to $6.46. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for IDEXX Laboratories.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Friday, January 31st. The company reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.13. IDEXX Laboratories had a net margin of 17.77% and a return on equity of 283.27%. The company had revenue of $605.50 million during the quarter, compared to analyst estimates of $600.60 million. During the same period in the prior year, the business posted $0.98 earnings per share. IDEXX Laboratories’s revenue for the quarter was up 10.2% on a year-over-year basis.

Several analysts have commented on IDXX shares. Zacks Investment Research lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating and set a $290.00 price objective for the company. in a report on Tuesday, February 4th. Guggenheim set a $310.00 price objective on shares of IDEXX Laboratories and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, BidaskClub upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, January 11th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $292.86.

In other news, Director Jonathan W. Ayers sold 39,143 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $293.62, for a total transaction of $11,493,167.66. Following the completion of the transaction, the director now directly owns 847,983 shares in the company, valued at $248,984,768.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Giovani Twigge sold 14,750 shares of IDEXX Laboratories stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $250.51, for a total transaction of $3,695,022.50. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Gradient Investments LLC lifted its holdings in shares of IDEXX Laboratories by 1,900.0% during the fourth quarter. Gradient Investments LLC now owns 100 shares of the company’s stock valued at $26,000 after purchasing an additional 95 shares during the last quarter. Equitec Specialists LLC purchased a new position in shares of IDEXX Laboratories during the fourth quarter valued at approximately $27,000. Asset Dedication LLC purchased a new position in shares of IDEXX Laboratories during the fourth quarter valued at approximately $27,000. Lenox Wealth Management Inc. purchased a new position in shares of IDEXX Laboratories during the third quarter valued at approximately $31,000. Finally, Thor Advisors LLC purchased a new position in shares of IDEXX Laboratories during the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

IDXX traded down $3.34 on Friday, hitting $278.11. The company had a trading volume of 418,719 shares, compared to its average volume of 482,346. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.94 and a quick ratio of 0.67. IDEXX Laboratories has a 52-week low of $198.74 and a 52-week high of $296.25. The stock has a fifty day simple moving average of $279.99 and a 200-day simple moving average of $271.50. The firm has a market capitalization of $23.73 billion, a P/E ratio of 56.99 and a beta of 0.76.

IDEXX Laboratories announced that its Board of Directors has approved a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase 5,000,000 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

IDEXX Laboratories Company Profile

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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