IDEXX Laboratories (NASDAQ:IDXX) Releases Earnings Results

IDEXX Laboratories (NASDAQ:IDXX – Get Rating) issued its earnings results on Wednesday. The company reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.02, MarketWatch Earnings reports. IDEXX Laboratories had a return on equity of 103.70% and a net margin of 22.43%. The company had revenue of $836.55 million for the quarter, compared to analyst estimates of $836.47 million. During the same period in the prior year, the firm earned $2.35 earnings per share. IDEXX Laboratories’s revenue for the quarter was up 7.6% on a year-over-year basis.

IDXX traded down $18.47 on Friday, hitting $366.64. The company’s stock had a trading volume of 1,527,758 shares, compared to its average volume of 620,873. The company’s 50 day simple moving average is $505.78 and its 200-day simple moving average is $555.96. The firm has a market cap of $30.89 billion, a P/E ratio of 42.98, a price-to-earnings-growth ratio of 3.84 and a beta of 1.10. IDEXX Laboratories has a 12 month low of $358.18 and a 12 month high of $706.95. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 1.21.

In related news, Director Jonathan W. Ayers sold 250 shares of the firm’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.06% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Deutsche Bank AG lifted its stake in IDEXX Laboratories by 0.7% in the 4th quarter. Deutsche Bank AG now owns 310,289 shares of the company’s stock worth $204,312,000 after purchasing an additional 2,117 shares in the last quarter. NewEdge Advisors LLC lifted its stake in IDEXX Laboratories by 3.7% in the 4th quarter. NewEdge Advisors LLC now owns 5,123 shares of the company’s stock worth $3,374,000 after purchasing an additional 185 shares in the last quarter. Flagship Harbor Advisors LLC lifted its stake in IDEXX Laboratories by 31.9% in the 4th quarter. Flagship Harbor Advisors LLC now owns 4,073 shares of the company’s stock worth $2,682,000 after purchasing an additional 984 shares in the last quarter. Glenmede Trust Co. NA lifted its stake in IDEXX Laboratories by 2.9% in the 4th quarter. Glenmede Trust Co. NA now owns 1,866 shares of the company’s stock worth $1,228,000 after purchasing an additional 52 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in shares of IDEXX Laboratories in the 4th quarter worth $565,000. Institutional investors and hedge funds own 84.92% of the company’s stock.

IDXX has been the topic of a number of research reports. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Friday. Bank of America cut IDEXX Laboratories from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $550.00 to $470.00 in a research note on Thursday. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a research report on Wednesday, February 2nd. Finally, Atlantic Securities initiated coverage on shares of IDEXX Laboratories in a research report on Tuesday, February 8th. They issued an “overweight” rating and a $650.00 price objective on the stock. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, IDEXX Laboratories presently has an average rating of “Buy” and a consensus price target of $663.67.

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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