Wall Street brokerages expect IDEXX Laboratories, Inc. (NASDAQ:IDXX) to report sales of $627.97 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for IDEXX Laboratories’ earnings, with the highest sales estimate coming in at $629.22 million and the lowest estimate coming in at $626.10 million. IDEXX Laboratories reported sales of $580.75 million during the same quarter last year, which indicates a positive year over year growth rate of 8.1%. The firm is scheduled to report its next quarterly earnings report on Wednesday, August 7th.
According to Zacks, analysts expect that IDEXX Laboratories will report full-year sales of $2.41 billion for the current fiscal year, with estimates ranging from $2.40 billion to $2.42 billion. For the next financial year, analysts forecast that the business will post sales of $2.66 billion, with estimates ranging from $2.65 billion to $2.68 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for IDEXX Laboratories.
IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Wednesday, May 1st. The company reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.13. The business had revenue of $576.06 million during the quarter, compared to analysts’ expectations of $575.04 million. IDEXX Laboratories had a net margin of 17.33% and a return on equity of 354,783.84%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.01 earnings per share.
Shares of NASDAQ IDXX opened at $249.56 on Friday. The stock has a market capitalization of $21.47 billion, a PE ratio of 56.33 and a beta of 0.97. The company has a quick ratio of 0.74, a current ratio of 1.01 and a debt-to-equity ratio of 14.81. IDEXX Laboratories has a 52 week low of $176.11 and a 52 week high of $256.22.
In related news, Director Rebecca M. Henderson sold 8,790 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $241.57, for a total value of $2,123,400.30. Following the completion of the sale, the director now owns 27,486 shares of the company’s stock, valued at $6,639,793.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael Lane sold 736 shares of the company’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $211.58, for a total transaction of $155,722.88. Following the completion of the sale, the vice president now directly owns 6,468 shares of the company’s stock, valued at approximately $1,368,499.44. The disclosure for this sale can be found here. Insiders sold 52,886 shares of company stock valued at $12,910,319 in the last three months. 2.70% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in IDXX. Pearl River Capital LLC purchased a new position in IDEXX Laboratories during the fourth quarter worth about $28,000. Coastal Investment Advisors Inc. purchased a new position in IDEXX Laboratories during the first quarter worth about $37,000. Monetary Management Group Inc. purchased a new position in IDEXX Laboratories during the first quarter worth about $45,000. Cresset Asset Management LLC purchased a new position in IDEXX Laboratories during the first quarter worth about $63,000. Finally, Anderson Fisher LLC purchased a new position in IDEXX Laboratories during the first quarter worth about $70,000. 87.46% of the stock is owned by hedge funds and other institutional investors.
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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