Zacks: Analysts Expect IDEXX Laboratories, Inc. (NASDAQ:IDXX) to Announce $1.23 Earnings Per Share

Equities analysts expect IDEXX Laboratories, Inc. (NASDAQ:IDXX) to announce earnings per share (EPS) of $1.23 for the current fiscal quarter, according to Zacks. Three analysts have made estimates for IDEXX Laboratories’ earnings, with the lowest EPS estimate coming in at $1.17 and the highest estimate coming in at $1.28. IDEXX Laboratories reported earnings of $1.17 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.1%. The firm is scheduled to issue its next earnings report on Wednesday, May 6th.

According to Zacks, analysts expect that IDEXX Laboratories will report full-year earnings of $5.49 per share for the current financial year, with EPS estimates ranging from $5.41 to $5.54. For the next year, analysts expect that the business will post earnings of $6.42 per share, with EPS estimates ranging from $6.35 to $6.46. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover IDEXX Laboratories.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Friday, January 31st. The company reported $1.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.13. The company had revenue of $605.50 million for the quarter, compared to the consensus estimate of $600.60 million. IDEXX Laboratories had a net margin of 17.77% and a return on equity of 283.27%. IDEXX Laboratories’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 earnings per share.

A number of equities research analysts recently issued reports on IDXX shares. Guggenheim set a $310.00 price target on shares of IDEXX Laboratories and gave the company a “buy” rating in a research note on Friday, November 1st. BidaskClub raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Saturday, January 11th. Finally, Zacks Investment Research downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating and set a $290.00 price target on the stock. in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. IDEXX Laboratories presently has a consensus rating of “Buy” and an average price target of $292.86.

IDEXX Laboratories stock traded up $3.73 during mid-day trading on Friday, reaching $288.78. 286,757 shares of the company’s stock traded hands, compared to its average volume of 469,453. The company has a market cap of $24.30 billion, a price-to-earnings ratio of 59.18 and a beta of 0.76. The stock has a 50 day moving average of $276.44 and a two-hundred day moving average of $271.24. The company has a quick ratio of 0.67, a current ratio of 0.94 and a debt-to-equity ratio of 3.93. IDEXX Laboratories has a 12-month low of $198.74 and a 12-month high of $294.57.

IDEXX Laboratories declared that its board has authorized a share buyback plan on Wednesday, February 12th that permits the company to buyback 5,000,000 outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

In other IDEXX Laboratories news, VP Giovani Twigge sold 14,750 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $250.51, for a total transaction of $3,695,022.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.70% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Putnam FL Investment Management Co. grew its holdings in shares of IDEXX Laboratories by 0.5% in the fourth quarter. Putnam FL Investment Management Co. now owns 7,874 shares of the company’s stock worth $2,056,000 after purchasing an additional 36 shares during the last quarter. Confluence Wealth Management LLC grew its holdings in shares of IDEXX Laboratories by 1.4% in the fourth quarter. Confluence Wealth Management LLC now owns 2,637 shares of the company’s stock worth $689,000 after purchasing an additional 36 shares during the last quarter. Synovus Financial Corp grew its holdings in shares of IDEXX Laboratories by 2.0% in the third quarter. Synovus Financial Corp now owns 1,895 shares of the company’s stock worth $518,000 after purchasing an additional 37 shares during the last quarter. ACG Wealth grew its holdings in shares of IDEXX Laboratories by 0.3% in the fourth quarter. ACG Wealth now owns 11,525 shares of the company’s stock worth $3,010,000 after purchasing an additional 40 shares during the last quarter. Finally, Colony Group LLC grew its holdings in shares of IDEXX Laboratories by 2.3% in the third quarter. Colony Group LLC now owns 1,924 shares of the company’s stock worth $523,000 after purchasing an additional 44 shares during the last quarter. Institutional investors and hedge funds own 86.39% 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. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.

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