IDEXX Laboratories, Inc. (NASDAQ:IDXX) Expected to Post Quarterly Sales of $866.10 Million

Equities analysts expect that IDEXX Laboratories, Inc. (NASDAQ:IDXXGet Rating) will announce sales of $866.10 million for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for IDEXX Laboratories’ earnings. The lowest sales estimate is $855.70 million and the highest is $883.40 million. IDEXX Laboratories reported sales of $826.14 million in the same quarter last year, which indicates a positive year over year growth rate of 4.8%. The business is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that IDEXX Laboratories will report full year sales of $3.44 billion for the current fiscal year, with estimates ranging from $3.42 billion to $3.45 billion. For the next financial year, analysts expect that the firm will post sales of $3.80 billion, with estimates ranging from $3.76 billion to $3.84 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for IDEXX Laboratories.

IDEXX Laboratories (NASDAQ:IDXXGet Rating) last issued its earnings results on Wednesday, May 4th. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.02. The business had revenue of $836.55 million for the quarter, compared to analysts’ expectations of $836.47 million. IDEXX Laboratories had a return on equity of 103.70% and a net margin of 22.43%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.35 EPS.

Several research analysts have recently weighed in on IDXX shares. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a report on Wednesday, February 2nd. Atlantic Securities started coverage on IDEXX Laboratories in a report on Tuesday, February 8th. They set an “overweight” rating and a $650.00 target price on the stock. Bank of America cut IDEXX Laboratories from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $550.00 to $470.00 in a report on Thursday, May 5th. Finally, StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, May 6th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $663.67.

In other IDEXX Laboratories news, Director Jonathan W. Ayers sold 250 shares of the business’s stock in a transaction that occurred on Tuesday, February 15th. The stock was sold at an average price of $509.70, for a total value of $127,425.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.06% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its position in IDEXX Laboratories by 5.1% in the third quarter. BlackRock Inc. now owns 8,694,034 shares of the company’s stock valued at $5,406,821,000 after purchasing an additional 419,143 shares during the period. Wealthspire Advisors LLC raised its position in IDEXX Laboratories by 38.8% in the third quarter. Wealthspire Advisors LLC now owns 1,652 shares of the company’s stock valued at $1,027,000 after purchasing an additional 462 shares during the period. Robeco Schweiz AG raised its position in IDEXX Laboratories by 19.2% in the fourth quarter. Robeco Schweiz AG now owns 5,869 shares of the company’s stock valued at $3,865,000 after purchasing an additional 946 shares during the period. NS Partners Ltd raised its position in IDEXX Laboratories by 0.8% in the fourth quarter. NS Partners Ltd now owns 37,850 shares of the company’s stock valued at $24,923,000 after purchasing an additional 304 shares during the period. Finally, Raymond James Trust N.A. raised its position in IDEXX Laboratories by 13.3% in the fourth quarter. Raymond James Trust N.A. now owns 1,281 shares of the company’s stock valued at $843,000 after purchasing an additional 150 shares during the period. 84.92% of the stock is currently owned by institutional investors.

Shares of IDEXX Laboratories stock traded up $14.23 on Monday, hitting $362.18. 833,844 shares of the company were exchanged, compared to its average volume of 824,767. The stock has a market capitalization of $30.43 billion, a price-to-earnings ratio of 42.46, a price-to-earnings-growth ratio of 2.13 and a beta of 1.10. The company has a 50-day moving average price of $487.03 and a 200 day moving average price of $544.78. IDEXX Laboratories has a 1-year low of $330.66 and a 1-year high of $706.95. The company has a quick ratio of 0.81, a current ratio of 1.12 and a debt-to-equity ratio of 1.21.

About IDEXX Laboratories (Get Rating)

IDEXX Laboratories, Inc 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 CAG; Water Quality Products; LPD; and Other segments. It provides point-of-care veterinary diagnostic products, including instruments, consumables, and rapid assay test kits; veterinary reference laboratory diagnostic and consulting services; practice management and diagnostic imaging systems and services for veterinarians; and health monitoring, biological materials testing, and laboratory animal diagnostic instruments and services for biomedical research community.

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