$1.86 EPS Expected for IDEXX Laboratories, Inc. (NASDAQ:IDXX) This Quarter

Brokerages expect IDEXX Laboratories, Inc. (NASDAQ:IDXX) to report earnings of $1.86 per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for IDEXX Laboratories’ earnings. The lowest EPS estimate is $1.66 and the highest is $2.00. IDEXX Laboratories reported earnings of $1.69 per share during the same quarter last year, which would indicate a positive year over year growth rate of 10.1%. The company is scheduled to report its next earnings results on Thursday, November 4th.

On average, analysts expect that IDEXX Laboratories will report full-year earnings of $8.35 per share for the current fiscal year, with EPS estimates ranging from $8.32 to $8.40. For the next year, analysts forecast that the company will post earnings of $9.43 per share, with EPS estimates ranging from $9.09 to $9.67. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for IDEXX Laboratories.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Friday, July 30th. The company reported $2.34 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 business had revenue of $826.14 million for the quarter, compared to analysts’ expectations of $794.64 million. During the same period in the prior year, the business posted $1.72 earnings per share. The firm’s revenue was up 29.6% on a year-over-year basis.

Several research analysts have commented on the company. Barclays raised their target price on IDEXX Laboratories from $616.00 to $750.00 and gave the stock an “overweight” rating in a research note on Monday, August 2nd. Guggenheim downgraded IDEXX Laboratories from a “buy” rating to a “neutral” rating in a research report on Monday, July 12th. Credit Suisse Group raised their price objective 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 raised their price objective on IDEXX Laboratories from $550.00 to $610.00 and gave the company a “neutral” rating in a report on Tuesday, August 3rd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $643.80.

NASDAQ IDXX traded up $3.41 on Wednesday, reaching $664.80. The company had a trading volume of 10,219 shares, compared to its average volume of 400,608. IDEXX Laboratories has a 52-week low of $347.54 and a 52-week high of $706.95. The stock has a market capitalization of $56.56 billion, a P/E ratio of 78.83, a P/E/G ratio of 4.10 and a beta of 0.92. The company’s fifty day moving average is $677.42 and its 200 day moving average is $589.19. The company has a quick ratio of 1.17, a current ratio of 1.54 and a debt-to-equity ratio of 1.04.

In related news, Director Daniel M. Junius sold 2,402 shares of the stock in a transaction that occurred on Tuesday, August 10th. The stock was sold at an average price of $679.58, for a total transaction of $1,632,351.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kathy V. Turner sold 276 shares of the company’s stock in a transaction that occurred on Friday, August 27th. The shares were sold at an average price of $678.00, for a total value of $187,128.00. The disclosure for this sale can be found here. Insiders sold 26,886 shares of company stock worth $18,646,894 over the last three months. Corporate insiders own 2.06% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cloverfields Capital Group LP lifted its position in IDEXX Laboratories by 1.1% during the 2nd quarter. Cloverfields Capital Group LP now owns 1,529 shares of the company’s stock worth $966,000 after acquiring an additional 17 shares during the period. Seeyond boosted its holdings in IDEXX Laboratories by 0.5% in the 2nd quarter. Seeyond now owns 3,753 shares of the company’s stock worth $2,370,000 after buying an additional 17 shares during the last quarter. TCI Wealth Advisors Inc. boosted its holdings in shares of IDEXX Laboratories by 34.0% during 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 last quarter. Orion Portfolio Solutions LLC boosted its holdings in shares of IDEXX Laboratories by 3.7% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 504 shares of the company’s stock worth $318,000 after purchasing an additional 18 shares during the last quarter. Finally, Cribstone Capital Management LLC lifted its holdings in IDEXX Laboratories by 0.4% in the second quarter. Cribstone Capital Management LLC now owns 4,138 shares of the company’s stock valued at $2,613,000 after acquiring an additional 18 shares during the last quarter. 84.70% of the stock is currently owned by institutional investors and hedge funds.

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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