Brokerages forecast that IDEXX Laboratories, Inc. (NASDAQ:IDXX) will report $597.35 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for IDEXX Laboratories’ earnings, with the highest sales estimate coming in at $597.65 million and the lowest estimate coming in at $596.90 million. IDEXX Laboratories reported sales of $545.45 million during the same quarter last year, which indicates a positive year-over-year growth rate of 9.5%. The firm is scheduled to issue its next quarterly earnings report on Thursday, November 7th.
According to Zacks, analysts expect that IDEXX Laboratories will report full year sales of $2.40 billion for the current fiscal year, with estimates ranging from $2.39 billion to $2.40 billion. For the next fiscal year, analysts anticipate that the company will post sales of $2.64 billion, with estimates ranging from $2.63 billion to $2.65 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover IDEXX Laboratories.
IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Thursday, August 1st. The company reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.06. The company had revenue of $620.10 million for the quarter, compared to analysts’ expectations of $627.10 million. IDEXX Laboratories had a return on equity of 765.45% and a net margin of 17.78%. IDEXX Laboratories’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm earned $1.23 earnings per share.
In other IDEXX Laboratories news, Chairman Jonathan W. Ayers sold 20,000 shares of IDEXX Laboratories stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $262.26, for a total transaction of $5,245,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Jonathan W. Ayers sold 10,000 shares of IDEXX Laboratories stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $272.75, for a total value of $2,727,500.00. Following the sale, the chairman now directly owns 1,035,942 shares in the company, valued at $282,553,180.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,905 shares of company stock worth $20,052,806. Insiders own 2.70% of the company’s stock.
A number of institutional investors have recently bought and sold shares of IDXX. Chicago Capital LLC boosted its position in shares of IDEXX Laboratories by 1.1% in the 2nd quarter. Chicago Capital LLC now owns 113,341 shares of the company’s stock worth $31,206,000 after purchasing an additional 1,240 shares in the last quarter. HCR Wealth Advisors bought a new stake in shares of IDEXX Laboratories in the 2nd quarter worth approximately $218,000. WINTON GROUP Ltd boosted its position in shares of IDEXX Laboratories by 20.5% in the 2nd quarter. WINTON GROUP Ltd now owns 5,010 shares of the company’s stock worth $1,379,000 after purchasing an additional 852 shares in the last quarter. Piedmont Investment Advisors Inc. boosted its position in shares of IDEXX Laboratories by 1.9% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 7,633 shares of the company’s stock worth $1,707,000 after purchasing an additional 144 shares in the last quarter. Finally, Swiss National Bank boosted its position in shares of IDEXX Laboratories by 2.2% in the 1st quarter. Swiss National Bank now owns 287,800 shares of the company’s stock worth $64,352,000 after purchasing an additional 6,100 shares in the last quarter. 87.10% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ IDXX traded down $7.32 during trading hours on Friday, hitting $272.56. The company’s stock had a trading volume of 12,751 shares, compared to its average volume of 419,812. The company has a debt-to-equity ratio of 4.49, a quick ratio of 0.83 and a current ratio of 1.15. The stock has a market cap of $23.87 billion, a price-to-earnings ratio of 64.14 and a beta of 0.84. IDEXX Laboratories has a 12 month low of $176.11 and a 12 month high of $292.17. The business has a 50-day simple moving average of $279.53 and a 200-day simple moving average of $245.61.
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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