IDEXX Laboratories, Inc. (IDXX) Releases Earnings Results, Beats Expectations By $0.05 EPS
IDEXX Laboratories, Inc. (NASDAQ:IDXX) released its earnings results on Tuesday. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05, Bloomberg Earnings reports. IDEXX Laboratories had a negative return on equity of 336.64% and a net margin of 14.55%. The firm had revenue of $492.00 million for the quarter, compared to analysts’ expectations of $492.94 million. During the same period in the prior year, the firm posted $0.62 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. IDEXX Laboratories updated its FY17 guidance to $3.22-$3.26 EPS and its FY18 guidance to $3.50-$3.62 EPS.
In related news, CEO Jonathan W. Ayers sold 18,000 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $154.91, for a total transaction of $2,788,380.00. Following the transaction, the chief executive officer now directly owns 1,043,034 shares in the company, valued at approximately $161,576,396.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Jonathan W. Ayers sold 13,000 shares of the business’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $150.79, for a total value of $1,960,270.00. Following the transaction, the chairman now owns 1,044,034 shares in the company, valued at $157,429,886.86. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 151,734 shares of company stock worth $23,436,626. 2.77% of the stock is owned by company insiders.
A number of equities research analysts have recently commented on the company. Canaccord Genuity reissued a “buy” rating and issued a $180.00 target price on shares of IDEXX Laboratories in a research note on Friday, October 6th. Bank of America Corporation raised IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $175.00 target price on the stock in a research note on Wednesday, August 23rd. BidaskClub cut IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Stifel Nicolaus reissued a “buy” rating and issued a $185.00 target price on shares of IDEXX Laboratories in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research raised IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $186.00 target price on the stock in a research note on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. IDEXX Laboratories currently has an average rating of “Hold” and an average price target of $173.67.
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IDEXX Laboratories Company Profile
IDEXX Laboratories, Inc develops, manufactures and distributes products and provides services for the companion animal veterinary, livestock and poultry, dairy and water testing markets. The Company also sells a line of portable electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market.
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