IDEXX Laboratories, Inc. (NASDAQ:IDXX) updated its FY17 earnings guidance on Tuesday. The company provided EPS guidance of $3.12-3.22 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.07. The company issued revenue guidance of $1.945-1.965 billion, compared to the consensus revenue estimate of $1.94 billion.
A number of brokerages have recently weighed in on IDXX. Stifel Nicolaus reissued a buy rating and set a $185.00 price target on shares of IDEXX Laboratories in a research report on Wednesday, August 2nd. BidaskClub lowered shares of IDEXX Laboratories from a buy rating to a hold rating in a report on Monday, July 31st. CL King upgraded shares of IDEXX Laboratories from a neutral rating to a buy rating and set a $200.00 price objective on the stock in a report on Friday, July 28th. Zacks Investment Research upgraded shares of IDEXX Laboratories from a hold rating to a buy rating and set a $186.00 price objective on the stock in a report on Wednesday, July 19th. Finally, Canaccord Genuity restated a buy rating and set a $180.00 price objective on shares of IDEXX Laboratories in a report on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $173.80.
Shares of IDEXX Laboratories, Inc. (NASDAQ IDXX) traded up 1.30% during midday trading on Friday, reaching $153.02. 502,062 shares of the company’s stock traded hands. IDEXX Laboratories, Inc. has a 52-week low of $102.45 and a 52-week high of $173.01. The company has a 50 day moving average of $161.67 and a 200 day moving average of $155.62. The firm has a market cap of $13.35 billion, a PE ratio of 52.64 and a beta of 0.49.
IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.10. IDEXX Laboratories had a net margin of 14.13% and a negative return on equity of 473.46%. The firm had revenue of $508.90 million during the quarter, compared to analyst estimates of $502.44 million. During the same quarter in the prior year, the firm earned $0.74 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities analysts predict that IDEXX Laboratories, Inc. will post $3.18 EPS for the current fiscal year.
IDEXX Laboratories announced that its board has approved a stock buyback plan on Wednesday, May 3rd that allows the company to buyback 3,000,000 shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.
In related news, insider Giovani Twigge sold 2,572 shares of the stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $166.90, for a total value of $429,266.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William T. End sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $162.55, for a total value of $812,750.00. Following the completion of the transaction, the director now owns 45,256 shares of the company’s stock, valued at $7,356,362.80. The disclosure for this sale can be found here. Insiders have sold a total of 55,572 shares of company stock valued at $8,844,817 in the last ninety days. Insiders own 2.77% of the company’s stock.
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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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