IDEXX Laboratories, Inc. (NASDAQ:IDXX – Get Rating) – William Blair decreased their Q2 2023 earnings per share estimates for shares of IDEXX Laboratories in a report released on Tuesday, May 2nd. William Blair analyst R. Daniels now forecasts that the company will earn $2.45 per share for the quarter, down from their previous estimate of $2.51. The consensus estimate for IDEXX Laboratories’ current full-year earnings is $9.61 per share. William Blair also issued estimates for IDEXX Laboratories’ Q3 2023 earnings at $2.40 EPS, Q4 2023 earnings at $2.22 EPS and FY2023 earnings at $9.62 EPS.
Several other research analysts have also issued reports on the company. Morgan Stanley raised their price target on IDEXX Laboratories from $543.00 to $590.00 and gave the stock an “overweight” rating in a research report on Thursday, March 23rd. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, April 1st. Barclays lifted 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. 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 report on Tuesday, February 7th. Finally, Atlantic Securities boosted their price target on IDEXX Laboratories from $470.00 to $600.00 and gave the company an “overweight” rating in a research note on Tuesday, February 7th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $520.63.
IDEXX Laboratories Trading Down 1.9 %
IDEXX Laboratories (NASDAQ:IDXX – Get Rating) last announced its earnings results on Monday, February 6th. The company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.13. The firm had revenue of $828.60 million during the quarter, compared to the consensus estimate of $820.91 million. IDEXX Laboratories had a return on equity of 124.51% and a net margin of 20.17%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.89 EPS.
Institutional Investors Weigh In On IDEXX Laboratories
A number of hedge funds have recently modified their holdings of IDXX. Commerce Bank boosted its stake in shares of IDEXX Laboratories by 0.8% in the first quarter. Commerce Bank now owns 5,857 shares of the company’s stock valued at $2,929,000 after purchasing an additional 46 shares during the period. Ellevest Inc. grew its stake in shares of IDEXX Laboratories by 12.4% during the 1st quarter. Ellevest Inc. now owns 861 shares of the company’s stock worth $431,000 after purchasing an additional 95 shares during the period. Treasurer of the State of North Carolina grew its stake in IDEXX Laboratories by 0.7% in the 1st quarter. Treasurer of the State of North Carolina now owns 37,103 shares of the company’s stock valued at $18,554,000 after acquiring an additional 240 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in IDEXX Laboratories by 0.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 82,971 shares of the company’s stock valued at $41,492,000 after purchasing an additional 439 shares in the last quarter. Finally, Scissortail Wealth Management LLC purchased a new position in shares of IDEXX Laboratories during the 1st quarter worth about $202,883,000. 87.90% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other IDEXX Laboratories news, SVP Kathy V. Turner sold 2,000 shares of the company’s stock in a transaction dated Tuesday, February 14th. The shares were 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 owns 7,380 shares in the company, valued at $3,723,874.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Kathy V. Turner sold 2,000 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now directly owns 7,380 shares of the company’s stock, valued at $3,723,874.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kathy V. Turner sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $505.04, for a total transaction of $505,040.00. Following the completion of the sale, the senior vice president now owns 6,941 shares of the company’s stock, valued at approximately $3,505,482.64. The disclosure for this sale can be found here. Insiders own 2.11% of the company’s stock.
About IDEXX Laboratories
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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