Zacks Research Comments on IDEXX Laboratories, Inc.’s Q1 2023 Earnings (NASDAQ:IDXX)

Posted by Defense World Staff on Apr 26th, 2023

IDEXX Laboratories, Inc. (NASDAQ:IDXX – Get Rating) – Stock analysts at Zacks Research cut their Q1 2023 earnings per share estimates for shares of IDEXX Laboratories in a research report issued to clients and investors on Monday, April 24th. Zacks Research analyst R. Anand now expects that the company will post earnings of $2.32 per share for the quarter, down from their previous estimate of $2.35. The consensus estimate for IDEXX Laboratories’ current full-year earnings is $9.57 per share. Zacks Research also issued estimates for IDEXX Laboratories’ Q2 2023 earnings at $2.47 EPS, Q3 2023 earnings at $2.40 EPS, Q4 2023 earnings at $2.22 EPS, FY2023 earnings at $9.42 EPS and FY2025 earnings at $12.48 EPS.

IDEXX Laboratories (NASDAQ:IDXX – Get Rating) last issued its quarterly earnings data on Monday, February 6th. The company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.13. IDEXX Laboratories had a return on equity of 124.51% and a net margin of 20.17%. The firm had revenue of $828.60 million during the quarter, compared to the consensus estimate of $820.91 million. During the same quarter in the previous year, the company posted $1.89 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year.

Other equities research analysts also recently issued research reports about the company. Barclays boosted their target price on IDEXX Laboratories from $582.00 to $590.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 8th. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, April 1st. The Goldman Sachs Group boosted their target price on IDEXX Laboratories from $465.00 to $530.00 and gave the stock a “buy” rating in a research report on Wednesday, January 25th. Atlantic Securities upped their price objective on IDEXX Laboratories from $470.00 to $600.00 and gave the company an “overweight” rating in a report on Tuesday, February 7th. Finally, Morgan Stanley upped their price objective on IDEXX Laboratories from $543.00 to $590.00 and gave the company an “overweight” rating in a report on Thursday, March 23rd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $520.63.

IDEXX Laboratories Trading Down 4.0 %

IDXX stock opened at $483.23 on Tuesday. The company has a market cap of $40.09 billion, a P/E ratio of 60.18, a PEG 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 company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.14. The business has a fifty day moving average of $482.14 and a 200-day moving average of $441.40.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, SVP Kathy V. Turner sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $505.04, for a total value of $505,040.00. Following the completion of the transaction, the senior vice president now directly owns 6,941 shares of the company’s stock, valued at $3,505,482.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other IDEXX Laboratories news, SVP Kathy V. Turner sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $505.04, for a total value of $505,040.00. Following the completion of the transaction, the senior vice president now directly owns 6,941 shares of the company’s stock, valued at $3,505,482.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kathy V. Turner sold 2,000 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 7,380 shares of the company’s stock, valued at $3,723,874.20. The disclosure for this sale can be found here. Insiders own 2.11% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Ridgewood Investments LLC acquired a new position in shares of IDEXX Laboratories during the first quarter worth about $28,000. Altshuler Shaham Ltd acquired a new position in shares of IDEXX Laboratories during the fourth quarter worth about $26,000. Pacifica Partners Inc. bought a new stake in IDEXX Laboratories during the first quarter worth about $33,000. Carolinas Wealth Consulting LLC bought a new stake in IDEXX Laboratories during the first quarter worth about $39,000. Finally, Resurgent Financial Advisors LLC bought a new stake in IDEXX Laboratories during the fourth quarter worth about $31,000. 87.90% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Company Profile

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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.