IDEXX Laboratories, Inc. (IDXX) Releases FY17 Earnings Guidance
IDEXX Laboratories, Inc. (NASDAQ:IDXX) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $3.22-$3.26 for the period, compared to the Thomson Reuters consensus estimate of $3.17. The company issued revenue guidance of $1.95-$1.96 billion, compared to the consensus revenue estimate of $1.96 billion.IDEXX Laboratories also updated its FY18 guidance to $3.50-$3.62 EPS.
Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus reissued a buy rating and issued a $185.00 price objective on shares of IDEXX Laboratories in a research report on Friday, July 14th. BidaskClub downgraded shares of IDEXX Laboratories from a buy rating to a hold rating in a research note on Monday, July 31st. Zacks Investment Research upgraded shares of IDEXX Laboratories from a hold rating to a buy rating and set a $186.00 target price for the company in a research note on Wednesday, July 19th. CL King upgraded shares of IDEXX Laboratories from a neutral rating to a buy rating and set a $200.00 target price for the company in a research note on Friday, July 28th. Finally, Canaccord Genuity restated a buy rating and issued a $180.00 target price on shares of IDEXX Laboratories in a research note on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. IDEXX Laboratories currently has an average rating of Hold and a consensus price target of $173.67.
IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Tuesday, October 31st. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.05. IDEXX Laboratories had a net margin of 14.55% and a negative return on equity of 336.64%. The business had revenue of $492.00 million for the quarter, compared to analyst estimates of $492.94 million. During the same quarter in the previous year, the firm posted $0.62 earnings per share. IDEXX Laboratories’s revenue was up 9.7% compared to the same quarter last year.
In related news, Chairman Jonathan W. Ayers sold 13,000 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $150.79, for a total transaction of $1,960,270.00. Following the transaction, the chairman now owns 1,044,034 shares of the company’s stock, valued at $157,429,886.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rebecca M. Henderson sold 5,156 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $153.29, for a total transaction of $790,363.24. Following the transaction, the director now directly owns 17,274 shares in the company, valued at approximately $2,647,931.46. The disclosure for this sale can be found here. Insiders have sold 151,734 shares of company stock worth $23,436,626 in the last ninety days. 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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