$546.85 Million in Sales Expected for IDEXX Laboratories, Inc. (IDXX) This Quarter

Equities research analysts predict that IDEXX Laboratories, Inc. (NASDAQ:IDXX) will announce $546.85 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for IDEXX Laboratories’ earnings. The lowest sales estimate is $543.99 million and the highest is $550.50 million. IDEXX Laboratories reported sales of $491.98 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.2%. The company is expected to announce its next quarterly earnings report before the market opens on Thursday, November 1st.

According to Zacks, analysts expect that IDEXX Laboratories will report full year sales of $2.22 billion for the current financial year, with estimates ranging from $2.22 billion to $2.23 billion. For the next financial year, analysts forecast that the business will post sales of $2.43 billion, with estimates ranging from $2.43 billion to $2.45 billion. Zacks’ sales averages are an average based on a survey of research firms that cover IDEXX Laboratories.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Wednesday, August 1st. The company reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.06. IDEXX Laboratories had a net margin of 14.50% and a negative return on equity of 703.80%. The company had revenue of $580.75 million for the quarter, compared to analysts’ expectations of $574.68 million. During the same period in the prior year, the company earned $0.87 earnings per share. The firm’s revenue was up 14.1% compared to the same quarter last year.

Several equities analysts have recently weighed in on the stock. BidaskClub upgraded shares of IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 1st. Zacks Investment Research lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, August 6th. Credit Suisse Group raised their price objective on shares of IDEXX Laboratories from $255.00 to $259.00 and gave the company an “outperform” rating in a research report on Friday, August 17th. Piper Jaffray Companies lifted their price target on shares of IDEXX Laboratories to $236.00 and gave the company an “overweight” rating in a research report on Wednesday, August 1st. Finally, Stifel Nicolaus lifted their price target on shares of IDEXX Laboratories from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, July 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $244.00.

Shares of IDXX opened at $229.24 on Friday. IDEXX Laboratories has a 52-week low of $146.09 and a 52-week high of $256.22. The company has a debt-to-equity ratio of -14.77, a current ratio of 0.96 and a quick ratio of 0.73. The stock has a market capitalization of $21.62 billion, a P/E ratio of 69.89, a P/E/G ratio of 2.28 and a beta of 0.64.

In related news, Director Bruce L. Claflin acquired 415 shares of the company’s stock in a transaction dated Friday, August 3rd. The shares were bought at an average price of $242.12 per share, for a total transaction of $100,479.80. Following the purchase, the director now directly owns 1,415 shares in the company, valued at approximately $342,599.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jonathan W. Ayers sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $247.33, for a total value of $1,731,310.00. The disclosure for this sale can be found here. Insiders have sold a total of 70,129 shares of company stock valued at $17,159,219 over the last 90 days. Corporate insiders own 2.56% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fundsmith Equity Fund L.P. acquired a new stake in shares of IDEXX Laboratories during the 2nd quarter worth $965,278,000. Oppenheimer & Co. Inc. increased its holdings in IDEXX Laboratories by 25.3% in the second quarter. Oppenheimer & Co. Inc. now owns 2,600 shares of the company’s stock worth $567,000 after purchasing an additional 525 shares in the last quarter. Eqis Capital Management Inc. acquired a new stake in IDEXX Laboratories in the second quarter valued at approximately $2,610,000. Scott & Selber Inc. acquired a new stake in IDEXX Laboratories in the second quarter valued at approximately $3,902,000. Finally, Moody Lynn & Lieberson LLC boosted its position in shares of IDEXX Laboratories by 198.2% during the second quarter. Moody Lynn & Lieberson LLC now owns 28,516 shares of the company’s stock valued at $6,215,000 after buying an additional 18,954 shares during the last quarter. Institutional investors and hedge funds own 91.22% of the company’s stock.

About IDEXX Laboratories

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. It operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.

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