According to Zacks, “IDEXX's continued strong instrument placements, global lab momentum reflecting leverage of expanded commercial capability as well as strong test menu expansion remained as the key highlights for the company's business in the first half of 2016. The company’s raised guidance for 2016 also buoys optimism. Also, IDEXX' trend of consistent share buybacks for the past few quarters reflects its strong free cash flow reserve as well as management’s success in optimizing IDEXX’s capital structure. However, foreign currency fluctuations are expected to consistently hurt IDEXX’s operating results, although lower than the extent as expected before. Also, high dependence on third-party distributors and intense competition continue to pose threats.”
A number of other brokerages have also commented on IDXX. Canaccord Genuity increased their price target on shares of Idexx Laboratories from $90.00 to $98.00 and gave the stock a buy rating in a report on Wednesday, July 20th. Bank of America Corp. reaffirmed a neutral rating on shares of Idexx Laboratories in a research note on Thursday, September 29th. Stifel Nicolaus upped their price objective on shares of Idexx Laboratories from $120.00 to $125.00 and gave the company a buy rating in a research note on Tuesday, August 16th. Finally, Northcoast Research raised shares of Idexx Laboratories from a sell rating to a neutral rating in a research note on Wednesday, August 3rd. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $105.20.
Idexx Laboratories (NASDAQ:IDXX) traded down 0.10% during midday trading on Tuesday, reaching $113.00. 44,242 shares of the company’s stock traded hands. The company’s 50-day moving average price is $111.76 and its 200-day moving average price is $95.05. Idexx Laboratories has a 52-week low of $63.48 and a 52-week high of $115.06. The stock has a market cap of $10.12 billion, a P/E ratio of 51.22 and a beta of 0.41.
Idexx Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.12. The firm had revenue of $467 million for the quarter, compared to analyst estimates of $444.83 million. Idexx Laboratories had a net margin of 11.94% and a negative return on equity of 414.67%. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 EPS. On average, equities analysts predict that Idexx Laboratories will post $2.36 EPS for the current fiscal year.
In other Idexx Laboratories news, Chairman Jonathan W. Ayers sold 60,000 shares of the stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $107.69, for a total transaction of $6,461,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Barry C. Johnson sold 9,924 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of $111.37, for a total transaction of $1,105,235.88. Following the sale, the director now directly owns 13,484 shares of the company’s stock, valued at approximately $1,501,713.08. The disclosure for this sale can be found here. Company insiders own 2.79% of the company’s stock.
A number of large investors have recently made changes to their positions in IDXX. Huntington National Bank boosted its stake in shares of Idexx Laboratories by 112.1% in the second quarter. Huntington National Bank now owns 1,190 shares of the company’s stock valued at $111,000 after buying an additional 629 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Idexx Laboratories by 18.1% in the second quarter. IFP Advisors Inc now owns 1,203 shares of the company’s stock valued at $112,000 after buying an additional 184 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Idexx Laboratories during the second quarter valued at $121,000. Tredje AP fonden purchased a new stake in shares of Idexx Laboratories during the second quarter valued at $175,000. Finally, Nordea Investment Management AB purchased a new stake in shares of Idexx Laboratories during the second quarter valued at $176,000. 91.58% of the stock is owned by institutional investors and hedge funds.
Idexx Laboratories Company Profile
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