Wall Street brokerages expect IDEXX Laboratories, Inc. (NASDAQ:IDXX) to announce sales of $627.97 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for IDEXX Laboratories’ earnings. The highest sales estimate is $629.22 million and the lowest is $626.10 million. IDEXX Laboratories posted sales of $580.75 million during the same quarter last year, which suggests a positive year over year growth rate of 8.1%. The company is scheduled to issue its next quarterly earnings results on Wednesday, August 7th.
On average, analysts expect that IDEXX Laboratories will report full-year sales of $2.41 billion for the current financial year, with estimates ranging from $2.40 billion to $2.42 billion. For the next fiscal year, analysts forecast that the business will report sales of $2.66 billion, with estimates ranging from $2.65 billion to $2.68 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover IDEXX Laboratories.
IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Wednesday, May 1st. The company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.13. The company had revenue of $576.06 million during the quarter, compared to analyst estimates of $575.04 million. IDEXX Laboratories had a return on equity of 354,783.84% and a net margin of 17.33%. IDEXX Laboratories’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.01 earnings per share.
Shares of IDXX stock traded up $0.39 during trading hours on Tuesday, reaching $267.55. 8,259 shares of the company’s stock were exchanged, compared to its average volume of 380,108. The company has a market cap of $22.99 billion, a PE ratio of 62.75 and a beta of 0.84. The company has a current ratio of 1.01, a quick ratio of 0.74 and a debt-to-equity ratio of 14.81. IDEXX Laboratories has a fifty-two week low of $176.11 and a fifty-two week high of $271.34.
In other IDEXX Laboratories news, VP Brian P. Mckeon sold 7,504 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $247.87, for a total transaction of $1,860,016.48. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Giovani Twigge sold 2,600 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $250.14, for a total value of $650,364.00. Following the sale, the insider now directly owns 12,595 shares in the company, valued at $3,150,513.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,721 shares of company stock worth $12,554,774. 2.70% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in IDXX. Morgan Stanley boosted its position in IDEXX Laboratories by 15.1% in the 3rd quarter. Morgan Stanley now owns 439,913 shares of the company’s stock valued at $109,830,000 after buying an additional 57,828 shares during the period. Vanguard Group Inc grew its holdings in IDEXX Laboratories by 0.3% during the 3rd quarter. Vanguard Group Inc now owns 8,918,451 shares of the company’s stock valued at $2,226,581,000 after purchasing an additional 23,970 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in IDEXX Laboratories by 1.8% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 3,131 shares of the company’s stock valued at $583,000 after purchasing an additional 56 shares in the last quarter. Dupont Capital Management Corp grew its holdings in IDEXX Laboratories by 28.3% during the 4th quarter. Dupont Capital Management Corp now owns 1,677 shares of the company’s stock valued at $312,000 after purchasing an additional 370 shares in the last quarter. Finally, ETF Managers Group LLC grew its holdings in IDEXX Laboratories by 15.8% during the 4th quarter. ETF Managers Group LLC now owns 682 shares of the company’s stock valued at $127,000 after purchasing an additional 93 shares in the last quarter. 87.76% of the stock is currently owned by institutional investors.
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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