IDEXX Laboratories (IDXX) Set to Announce Quarterly Earnings on Tuesday

Posted by on Apr 25th, 2023

IDEXX Laboratories (NASDAQ:IDXX – Get Rating) is scheduled to be posting its quarterly earnings results before the market opens on Tuesday, May 2nd. Analysts expect IDEXX Laboratories to post earnings of $2.39 per share for the quarter. IDEXX Laboratories has set its FY23 guidance at $9.27-9.75 EPS and its FY 2023 guidance at $9.27-$9.75 EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

IDEXX Laboratories (NASDAQ:IDXX – Get Rating) last posted its quarterly earnings results on Monday, February 6th. The company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.13. The company had revenue of $828.60 million during the quarter, compared to analysts’ expectations of $820.91 million. IDEXX Laboratories had a return on equity of 124.51% and a net margin of 20.17%. IDEXX Laboratories’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.89 EPS. On average, analysts expect IDEXX Laboratories to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $503.61 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $41.78 billion, a PE ratio of 62.72, a price-to-earnings-growth ratio of 2.88 and a beta of 1.19. IDEXX Laboratories has a twelve month low of $317.06 and a twelve month high of $515.79. The stock’s 50-day simple moving average is $482.00 and its 200 day simple moving average is $440.29.

Insider Buying and Selling

In other IDEXX Laboratories news, SVP Kathy V. Turner sold 2,000 shares of the stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $504.59, for a total transaction of $1,009,180.00. Following the completion of the sale, the senior vice president now owns 7,380 shares of the company’s stock, valued at approximately $3,723,874.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Kathy V. Turner sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $505.04, for a total transaction of $505,040.00. Following the sale, the senior vice president now owns 6,941 shares in the company, valued at approximately $3,505,482.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kathy V. Turner sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $504.59, for a total value of $1,009,180.00. Following the sale, the senior vice president now directly owns 7,380 shares of the company’s stock, valued at approximately $3,723,874.20. The disclosure for this sale can be found here. 2.11% of the stock is owned by insiders.

Hedge Funds Weigh In On IDEXX Laboratories

Institutional investors and hedge funds have recently modified their holdings of the business. Altshuler Shaham Ltd acquired a new position in shares of IDEXX Laboratories during the 4th quarter valued at $26,000. Resurgent Financial Advisors LLC acquired a new position in shares of IDEXX Laboratories during the fourth quarter valued at about $31,000. Carolinas Wealth Consulting LLC bought a new position in shares of IDEXX Laboratories during the 1st quarter worth about $39,000. Fortis Capital Advisors LLC acquired a new stake in shares of IDEXX Laboratories in the 4th quarter valued at about $41,000. Finally, Atlas Capital Advisors LLC bought a new stake in IDEXX Laboratories in the 2nd quarter valued at about $44,000. 87.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on IDXX shares. Morgan Stanley lifted their price target on shares of IDEXX Laboratories from $543.00 to $590.00 and gave the company an “overweight” rating in a report on Thursday, March 23rd. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Saturday, April 1st. JPMorgan Chase & Co. boosted their price objective on IDEXX Laboratories from $525.00 to $550.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 7th. The Goldman Sachs Group increased their target price on IDEXX Laboratories from $465.00 to $530.00 and gave the company a “buy” rating in a research report on Wednesday, January 25th. Finally, Barclays boosted their price target on IDEXX Laboratories from $582.00 to $590.00 and gave the stock an “overweight” rating in a report on Wednesday, February 8th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $520.63.

About IDEXX Laboratories

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IDEXX Laboratories, Inc engages in the development, manufacture, and distribution of products and services for the animal veterinary, livestock and poultry, dairy, and water testing markets. It operates through the following segments: Companion Animal Group (CAG), Water Quality Products (Water), Livestock, Poultry, and Dairy (LPD), and Other.

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Earnings History for IDEXX Laboratories (NASDAQ:IDXX)

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