Zacks: Brokerages Anticipate IDEXX Laboratories, Inc. (NASDAQ:IDXX) to Announce $1.23 EPS

Wall Street analysts predict that IDEXX Laboratories, Inc. (NASDAQ:IDXX) will post $1.23 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have made estimates for IDEXX Laboratories’ earnings. The lowest EPS estimate is $1.17 and the highest is $1.28. IDEXX Laboratories posted earnings per share of $1.17 in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.1%. The business is scheduled to issue its next earnings results on Wednesday, May 6th.

On average, analysts expect that IDEXX Laboratories will report full-year earnings of $5.49 per share for the current year, with EPS estimates ranging from $5.41 to $5.54. For the next financial 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 averages are a mean average based on a survey of research analysts that that provide coverage for IDEXX Laboratories.

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

A number of brokerages have weighed in on IDXX. BidaskClub upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, January 11th. Zacks Investment Research lowered IDEXX Laboratories from a “buy” rating to a “hold” rating and set a $290.00 price target on the stock. in a report on Tuesday, February 4th. Finally, Guggenheim set a $310.00 price target on IDEXX Laboratories and gave the stock a “buy” rating in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $292.86.

IDXX stock traded up $3.73 during midday trading on Friday, reaching $288.78. The stock had a trading volume of 286,757 shares, compared to its average volume of 469,453. The company’s fifty day simple moving average is $276.44 and its 200 day simple moving average is $271.24. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 3.93. The company has a market cap of $24.30 billion, a price-to-earnings ratio of 59.18 and a beta of 0.76. IDEXX Laboratories has a 52-week low of $198.74 and a 52-week high of $294.57.

IDEXX Laboratories declared that its board has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback 5,000,000 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

In other news, VP Giovani Twigge sold 14,750 shares of IDEXX Laboratories stock in a transaction on Friday, November 29th. The stock was sold at an average price of $250.51, for a total transaction of $3,695,022.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.70% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Gradient Investments LLC raised its holdings in IDEXX Laboratories by 1,900.0% in the 4th quarter. Gradient Investments LLC now owns 100 shares of the company’s stock valued at $26,000 after buying an additional 95 shares during the period. Equitec Specialists LLC acquired a new position in IDEXX Laboratories in the 4th quarter valued at about $27,000. Asset Dedication LLC acquired a new position in IDEXX Laboratories in the 4th quarter valued at about $27,000. Lenox Wealth Management Inc. acquired a new position in IDEXX Laboratories in the 3rd quarter valued at about $31,000. Finally, Thor Advisors LLC acquired a new position in IDEXX Laboratories in the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 86.39% of the company’s stock.

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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