FY2017 Earnings Forecast for IDEXX Laboratories, Inc. (IDXX) Issued By Northcoast Research
IDEXX Laboratories, Inc. (NASDAQ:IDXX) – Stock analysts at Northcoast Research raised their FY2017 earnings estimates for shares of IDEXX Laboratories in a note issued to investors on Tuesday. Northcoast Research analyst E. Snyder now anticipates that the company will post earnings per share of $3.18 for the year, up from their previous forecast of $3.16. Northcoast Research also issued estimates for IDEXX Laboratories’ Q1 2018 earnings at $0.78 EPS, Q3 2018 earnings at $0.83 EPS, Q4 2018 earnings at $0.82 EPS and FY2018 earnings at $3.53 EPS.
A number of other research analysts have also weighed in on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $185.00 price target on shares of IDEXX Laboratories in a research note on Wednesday. BidaskClub downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Monday. CL King upgraded shares of IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $200.00 price objective for the company in a report on Friday, July 28th. Zacks Investment Research upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $186.00 price objective for the company in a report on Wednesday, July 19th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $180.00 price objective on shares of IDEXX Laboratories in a report on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $173.80.
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Shares of IDEXX Laboratories (NASDAQ:IDXX) traded down 1.33% during midday trading on Wednesday, hitting $152.04. The stock had a trading volume of 268,565 shares. The firm has a 50 day moving average price of $163.95 and a 200-day moving average price of $154.43. The stock has a market cap of $13.27 billion, a PE ratio of 52.30 and a beta of 0.49. IDEXX Laboratories has a 52-week low of $102.45 and a 52-week high of $173.01.
IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Tuesday, August 1st. The company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.10. IDEXX Laboratories had a negative return on equity of 473.46% and a net margin of 14.13%. The firm had revenue of $508.90 million for the quarter, compared to analysts’ expectations of $502.44 million. During the same period in the previous year, the firm posted $0.74 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year.
IDEXX Laboratories announced that its Board of Directors has initiated a share buyback program on Wednesday, May 3rd that permits the company to buyback 3,000,000 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other IDEXX Laboratories news, Chairman Jonathan W. Ayers sold 13,000 shares of the stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $167.82, for a total value of $2,181,660.00. Following the completion of the sale, the chairman now owns 1,032,994 shares in the company, valued at approximately $173,357,053.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Jonathan W. Ayers sold 27,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $162.69, for a total transaction of $4,392,630.00. Following the sale, the chairman now owns 1,024,994 shares of the company’s stock, valued at approximately $166,756,273.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,572 shares of company stock valued at $7,816,307. 2.77% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. increased its stake in shares of IDEXX Laboratories by 2.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 770 shares of the company’s stock worth $119,000 after buying an additional 17 shares in the last quarter. Capital Advisors Ltd. LLC purchased a new stake in shares of IDEXX Laboratories during the second quarter worth about $128,000. Acrospire Investment Management LLC increased its stake in shares of IDEXX Laboratories by 496.5% in the first quarter. Acrospire Investment Management LLC now owns 841 shares of the company’s stock worth $130,000 after buying an additional 700 shares in the last quarter. Global X Management Co. LLC increased its stake in shares of IDEXX Laboratories by 44.6% in the first quarter. Global X Management Co. LLC now owns 1,047 shares of the company’s stock worth $162,000 after buying an additional 323 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of IDEXX Laboratories during the first quarter worth about $200,000. Institutional investors and hedge funds own 89.12% of the company’s stock.
IDEXX Laboratories Company Profile
IDEXX Laboratories, Inc develops, manufactures and distributes products and provides services for the companion animal veterinary, livestock and poultry, dairy and water testing markets. The Company also sells a line of portable electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market.
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