IDEXX Laboratories (NASDAQ:IDXX) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

IDEXX Laboratories (NASDAQ:IDXXGet Rating) released its earnings results on Wednesday. The company reported $2.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.25 by $0.02, MarketWatch Earnings reports. IDEXX Laboratories had a net margin of 23.17% and a return on equity of 102.84%. The company had revenue of $836.55 million for the quarter, compared to analyst estimates of $836.47 million. During the same quarter last year, the firm earned $2.35 EPS. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year.

Shares of NASDAQ IDXX traded down $14.53 during mid-day trading on Thursday, reaching $396.78. The company had a trading volume of 3,912 shares, compared to its average volume of 514,683. IDEXX Laboratories has a 52 week low of $381.11 and a 52 week high of $706.95. The business’s 50-day moving average is $511.84 and its 200-day moving average is $559.63. The stock has a market cap of $33.43 billion, a price-to-earnings ratio of 47.77, a price-to-earnings-growth ratio of 3.51 and a beta of 1.10. The company has a current ratio of 1.25, a quick ratio of 0.90 and a debt-to-equity ratio of 1.12.

Several equities analysts recently commented on IDXX shares. Bank of America lowered shares of IDEXX Laboratories from a “buy” rating to a “neutral” rating and reduced their target price for the company from $550.00 to $470.00 in a report on Thursday. StockNews.com began coverage on shares of IDEXX Laboratories in a research report on Thursday, March 31st. They set a “buy” rating for the company. Atlantic Securities began coverage on shares of IDEXX Laboratories in a research report on Tuesday, February 8th. They issued an “overweight” rating and a $650.00 target price for the company. Finally, William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a research report on Wednesday, February 2nd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $663.67.

In related news, Director Jonathan W. Ayers sold 250 shares of the company’s stock in a transaction dated Tuesday, February 15th. The shares were sold at an average price of $509.70, for a total value of $127,425.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.06% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in IDXX. EverSource Wealth Advisors LLC purchased a new position in shares of IDEXX Laboratories in the 4th quarter valued at approximately $28,000. Salem Investment Counselors Inc. acquired a new position in IDEXX Laboratories in the 4th quarter worth approximately $39,000. Monolith Advisors acquired a new position in IDEXX Laboratories in the 4th quarter worth approximately $66,000. KB Financial Partners LLC acquired a new position in IDEXX Laboratories in the 4th quarter worth approximately $72,000. Finally, Integrated Wealth Concepts LLC acquired a new position in IDEXX Laboratories in the 4th quarter worth approximately $212,000. 84.92% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Company Profile (Get Rating)

IDEXX Laboratories, Inc 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 CAG; Water Quality Products; LPD; and Other segments. It provides point-of-care veterinary diagnostic products, including instruments, consumables, and rapid assay test kits; veterinary reference laboratory diagnostic and consulting services; practice management and diagnostic imaging systems and services for veterinarians; and health monitoring, biological materials testing, and laboratory animal diagnostic instruments and services for biomedical research community.

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Earnings History for IDEXX Laboratories (NASDAQ:IDXX)

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