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

Equities analysts expect IDEXX Laboratories, Inc. (NASDAQ:IDXXGet Rating) to post sales of $866.10 million for the current quarter, Zacks reports. Five analysts have provided 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 would suggest a positive year over year growth rate of 4.8%. The business is expected to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that IDEXX Laboratories will report full-year sales of $3.44 billion for the current financial year, with estimates ranging from $3.42 billion to $3.45 billion. For the next year, analysts anticipate that the business will report sales of $3.80 billion, with estimates ranging from $3.76 billion to $3.84 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow IDEXX Laboratories.

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

IDXX has been the topic of a number of research analyst reports. Bank of America downgraded shares of IDEXX Laboratories from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $550.00 to $470.00 in a research note on Thursday, May 5th. downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, May 6th. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a research report on Wednesday, February 2nd. Finally, Atlantic Securities started coverage on shares of IDEXX Laboratories in a research report on Tuesday, February 8th. They issued an “overweight” rating and a $650.00 price target on the stock. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $663.67.

NASDAQ IDXX traded up $14.23 during trading hours on Monday, reaching $362.18. 833,844 shares of the company traded hands, compared to its average volume of 824,767. IDEXX Laboratories has a 12 month low of $330.66 and a 12 month high of $706.95. The company has a current ratio of 1.12, a quick ratio of 0.81 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $30.43 billion, a PE ratio of 42.46, a PEG ratio of 2.13 and a beta of 1.10. The company has a 50 day moving average of $487.03 and a two-hundred day moving average of $544.78.

In related news, Director Jonathan W. Ayers sold 250 shares of IDEXX Laboratories stock in a transaction dated Tuesday, February 15th. The shares were sold at an average price of $509.70, for a total value of $127,425.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.06% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Riverview Trust Co acquired a new position in IDEXX Laboratories during the 1st quarter valued at about $27,000. EverSource Wealth Advisors LLC acquired a new position in shares of IDEXX Laboratories in the 4th quarter worth approximately $28,000. JNBA Financial Advisors acquired a new position in shares of IDEXX Laboratories in the 3rd quarter worth approximately $31,000. Bell Investment Advisors Inc acquired a new position in shares of IDEXX Laboratories in the 3rd quarter worth approximately $34,000. Finally, Institutional & Family Asset Management LLC grew its stake in shares of IDEXX Laboratories by 216.7% in the 3rd quarter. Institutional & Family Asset Management LLC now owns 57 shares of the company’s stock worth $35,000 after purchasing an additional 39 shares during the last quarter. 84.92% of the stock is currently owned by hedge funds and other institutional investors.

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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