IDEXX Laboratories, Inc. (NASDAQ:IDXX) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share guidance of $3.12-3.22 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.07. The company issued revenue guidance of $1.945-1.965 billion, compared to the consensus revenue estimate of $1.94 billion.
Several brokerages have weighed in on IDXX. Aegis began coverage on IDEXX Laboratories in a research note on Wednesday, May 31st. They set a sell rating and a $118.00 price objective on the stock. They noted that the move was a valuation call. Stifel Nicolaus raised their price objective on IDEXX Laboratories from $150.00 to $185.00 and gave the company a buy rating in a research note on Monday, May 1st. Canaccord Genuity restated a buy rating and set a $180.00 price objective (up from $165.00) on shares of IDEXX Laboratories in a research note on Friday, April 28th. Zacks Investment Research upgraded IDEXX Laboratories from a hold rating to a buy rating and set a $187.00 price objective on the stock in a research note on Monday, May 29th. Finally, BidaskClub raised IDEXX Laboratories from a buy rating to a strong-buy rating in a research report on Friday, June 23rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $173.80.
Shares of IDEXX Laboratories, Inc. (IDXX) opened at 150.44 on Friday. The stock’s 50 day moving average price is $160.14 and its 200 day moving average price is $156.81. The stock has a market capitalization of $13.13 billion, a price-to-earnings ratio of 51.75 and a beta of 0.49. IDEXX Laboratories, Inc. has a 12 month low of $102.45 and a 12 month high of $173.01.
IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.10. The firm had revenue of $508.90 million during the quarter, compared to analysts’ expectations of $502.44 million. IDEXX Laboratories had a negative return on equity of 473.46% and a net margin of 14.13%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 EPS. Analysts expect that IDEXX Laboratories, Inc. will post $3.18 EPS for the current year.
IDEXX Laboratories announced that its Board of Directors has approved 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. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.
In other IDEXX Laboratories news, insider Giovani Twigge sold 2,572 shares of IDEXX Laboratories stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $166.90, for a total transaction of $429,266.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Jonathan W. Ayers sold 13,000 shares of IDEXX Laboratories stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $167.82, for a total value of $2,181,660.00. Following the sale, the chairman now directly owns 1,032,994 shares of the company’s stock, valued at approximately $173,357,053.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 151,572 shares of company stock valued at $23,715,597. 2.77% of the stock is currently owned by insiders.
About IDEXX Laboratories
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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