William Blair Weighs in on IDEXX Laboratories, Inc.’s Q3 2019 Earnings (IDXX)

IDEXX Laboratories, Inc. (NASDAQ:IDXX) – Research analysts at William Blair reduced their Q3 2019 earnings per share estimates for shares of IDEXX Laboratories in a report issued on Wednesday, May 1st, Zacks Investment Research reports. William Blair analyst R. Daniels now forecasts that the company will earn $1.23 per share for the quarter, down from their prior forecast of $1.26. William Blair also issued estimates for IDEXX Laboratories’ Q4 2019 earnings at $1.07 EPS.

A number of other research analysts have also weighed in on the stock. Canaccord Genuity raised their price target on shares of IDEXX Laboratories from $255.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. BidaskClub raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Guggenheim started coverage on shares of IDEXX Laboratories in a research note on Thursday, May 23rd. They issued a “buy” rating and a $276.00 price target on the stock. Finally, Zacks Investment Research raised shares of IDEXX Laboratories from a “hold” rating to a “strong-buy” rating and set a $236.00 price target on the stock in a research note on Monday, February 4th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $256.71.

IDEXX Laboratories stock traded up $2.25 during midday trading on Monday, reaching $249.70. The company had a trading volume of 225,515 shares, compared to its average volume of 507,809. The firm has a market capitalization of $21.29 billion, a PE ratio of 58.62 and a beta of 0.97. IDEXX Laboratories has a 12-month low of $176.11 and a 12-month high of $258.45. 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 (NASDAQ:IDXX) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $1.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.13. The firm had revenue of $576.06 million for the quarter, compared to analyst estimates of $575.04 million. IDEXX Laboratories had a net margin of 17.33% and a return on equity of 354,783.84%. IDEXX Laboratories’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company posted $1.01 EPS.

In other IDEXX Laboratories news, VP Brian P. Mckeon sold 7,504 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $247.87, for a total value of $1,860,016.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Giovani Twigge sold 2,015 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $250.00, for a total transaction of $503,750.00. The disclosure for this sale can be found here. Insiders sold a total of 48,121 shares of company stock worth $11,904,410 over the last three months. Corporate insiders own 2.70% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pearl River Capital LLC acquired a new stake in shares of IDEXX Laboratories during the 4th quarter worth approximately $28,000. Coastal Investment Advisors Inc. acquired a new stake in shares of IDEXX Laboratories during the 1st quarter worth approximately $37,000. Monetary Management Group Inc. acquired a new stake in shares of IDEXX Laboratories during the 1st quarter worth approximately $45,000. Cresset Asset Management LLC acquired a new stake in shares of IDEXX Laboratories during the 1st quarter worth approximately $63,000. Finally, Anderson Fisher LLC acquired a new stake in shares of IDEXX Laboratories during the 1st quarter worth approximately $70,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

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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