IDEXX Laboratories (IDXX) Issues FY 2018 Earnings Guidance

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IDEXX Laboratories (NASDAQ:IDXX) updated its FY 2018 earnings guidance on Thursday. The company provided EPS guidance of $4.16-4.21 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.18. The company issued revenue guidance of $2.205-2.215 billion, compared to the consensus revenue estimate of $2.22 billion.IDEXX Laboratories also updated its FY 2017 guidance to $4.61-4.75 EPS.

Several research firms have recently commented on IDXX. Zacks Investment Research raised shares of IDEXX Laboratories from a hold rating to a buy rating and set a $274.00 price objective for the company in a research note on Thursday, August 2nd. Piper Jaffray Companies raised their price objective on shares of IDEXX Laboratories to $236.00 and gave the company an overweight rating in a research note on Wednesday, August 1st. Credit Suisse Group raised their price objective on shares of IDEXX Laboratories from $255.00 to $259.00 and gave the company an outperform rating in a research note on Friday, August 17th. BidaskClub lowered shares of IDEXX Laboratories from a strong-buy rating to a buy rating in a research note on Tuesday, July 31st. Finally, Stifel Nicolaus raised their price objective on shares of IDEXX Laboratories from $225.00 to $260.00 and gave the company a buy rating in a research note on Tuesday, July 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. IDEXX Laboratories presently has an average rating of Buy and a consensus target price of $244.00.

Shares of NASDAQ:IDXX opened at $212.12 on Thursday. The company has a market capitalization of $18.20 billion, a P/E ratio of 64.67, a PEG ratio of 1.92 and a beta of 0.64. IDEXX Laboratories has a fifty-two week low of $146.09 and a fifty-two week high of $256.22.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Wednesday, August 1st. The company reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.06. The firm had revenue of $580.75 million for the quarter, compared to analysts’ expectations of $574.68 million. IDEXX Laboratories had a net margin of 14.50% and a negative return on equity of 703.80%. The firm’s revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.87 earnings per share. Equities analysts forecast that IDEXX Laboratories will post 4.18 EPS for the current year.

In related news, CEO Jonathan W. Ayers sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $243.20, for a total value of $1,702,400.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Bruce L. Claflin bought 415 shares of IDEXX Laboratories stock in a transaction that occurred on Friday, August 3rd. The stock was purchased at an average cost of $242.12 per share, for a total transaction of $100,479.80. Following the acquisition, the director now owns 1,415 shares of the company’s stock, valued at $342,599.80. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 70,129 shares of company stock worth $17,159,219. 2.56% of the stock is owned by corporate insiders.

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. It operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.

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Earnings History and Estimates for IDEXX Laboratories (NASDAQ:IDXX)

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