IDEXX Laboratories, Inc. (NASDAQ:IDXX) to Post Q4 2019 Earnings of $0.90 Per Share, William Blair Forecasts

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IDEXX Laboratories, Inc. (NASDAQ:IDXX) – Research analysts at William Blair lowered their Q4 2019 earnings per share estimates for shares of IDEXX Laboratories in a research note issued to investors on Wednesday, November 6th. William Blair analyst R. Daniels now anticipates that the company will post earnings per share of $0.90 for the quarter, down from their previous estimate of $1.07. William Blair also issued estimates for IDEXX Laboratories’ Q2 2020 earnings at $1.55 EPS.

IDXX has been the topic of several other reports. Goldman Sachs Group initiated coverage on shares of IDEXX Laboratories in a research note on Monday, September 9th. They set a “neutral” rating and a $277.00 price target on the stock. Canaccord Genuity reaffirmed a “buy” rating and set a $285.00 price target on shares of IDEXX Laboratories in a research note on Friday, August 2nd. Credit Suisse Group raised their price target on shares of IDEXX Laboratories from $282.00 to $293.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Stifel Nicolaus raised their price target on shares of IDEXX Laboratories from $255.00 to $295.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, Guggenheim set a $310.00 price target on shares of IDEXX Laboratories and gave the stock a “buy” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $290.14.

Shares of NASDAQ:IDXX opened at $254.74 on Friday. IDEXX Laboratories has a 1-year low of $176.11 and a 1-year high of $294.57. The stock has a market cap of $22.66 billion, a P/E ratio of 59.80 and a beta of 0.79. The firm has a fifty day moving average price of $273.75 and a 200 day moving average price of $268.85. The company has a debt-to-equity ratio of 3.76, a current ratio of 1.12 and a quick ratio of 0.80.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.10. The firm had revenue of $605.30 million during the quarter, compared to analysts’ expectations of $597.09 million. IDEXX Laboratories had a net margin of 17.99% and a return on equity of 405.71%. IDEXX Laboratories’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.05 EPS.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd acquired a new stake in shares of IDEXX Laboratories in the second quarter worth approximately $28,000. Lenox Wealth Management Inc. purchased a new position in IDEXX Laboratories in the third quarter valued at approximately $31,000. Usca Ria LLC purchased a new position in IDEXX Laboratories in the third quarter valued at approximately $36,000. Cornerstone Advisors Inc. raised its holdings in IDEXX Laboratories by 100.0% in the second quarter. Cornerstone Advisors Inc. now owns 140 shares of the company’s stock valued at $39,000 after buying an additional 70 shares during the period. Finally, Captrust Financial Advisors raised its holdings in IDEXX Laboratories by 32.5% in the second quarter. Captrust Financial Advisors now owns 151 shares of the company’s stock valued at $42,000 after buying an additional 37 shares during the period. 86.85% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Jonathan W. Ayers sold 62,097 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $279.57, for a total value of $17,360,458.29. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director M Anne Szostak sold 3,283 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $279.37, for a total transaction of $917,171.71. Following the completion of the sale, the director now directly owns 584 shares in the company, valued at $163,152.08. The disclosure for this sale can be found here. Insiders sold 69,380 shares of company stock worth $19,362,310 over the last three months. Corporate insiders own 2.70% of the company’s stock.

About IDEXX Laboratories

IDEXX Laboratories, Inc, together with its subsidiaries, 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 Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.

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Earnings History and Estimates for IDEXX Laboratories (NASDAQ:IDXX)

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