IDEXX Laboratories (NASDAQ:IDXX) Releases Earnings Results, Beats Estimates By $0.35 EPS

Key Points

• IDEXX Laboratories reported earnings of $3.63 per share, surpassing estimates by $0.35 and achieving a net margin of 22.76% with a robust return on equity of 57.35%.
• The company's stock opened at $535.54, with a market cap of $43.07 billion and a consensus price target among analysts set at $557.88, indicating a generally positive outlook.
• In recent trading, a director sold a significant number of shares, decreasing their position by 41.16%, while institutional investors continue to hold 87.84% of the company’s stock.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) posted its earnings results on Monday. The company reported $3.63 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.35, Zacks reports. IDEXX Laboratories had a net margin of 22.76% and a return on equity of 57.35%.

IDEXX Laboratories Price Performance

Shares of IDEXX Laboratories stock opened at $535.54 on Monday. The stock has a market cap of $43.07 billion, a price-to-earnings ratio of 49.50, a price-to-earnings-growth ratio of 3.81 and a beta of 1.49. IDEXX Laboratories has a one year low of $356.14 and a one year high of $579.47. The stock has a 50 day moving average price of $531.30 and a 200-day moving average price of $472.10. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.81 and a current ratio of 1.16.

Analyst Ratings Changes

Several research firms have commented on IDXX. Jefferies Financial Group assumed coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price objective for the company. Wall Street Zen raised IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Morgan Stanley raised their price target on IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Stifel Nicolaus lifted their price objective on IDEXX Laboratories from $510.00 to $540.00 and gave the stock a "hold" rating in a research note on Wednesday, July 2nd. Finally, Leerink Partners upped their price objective on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $557.88.

Insiders Place Their Bets

In related news, Director M Anne Szostak sold 1,260 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $512.34, for a total transaction of $645,548.40. Following the completion of the sale, the director directly owned 1,801 shares of the company's stock, valued at approximately $922,724.34. This trade represents a 41.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.98% of the stock is owned by company insiders.

Institutional Trading of IDEXX Laboratories

A hedge fund recently raised its stake in IDEXX Laboratories stock. Empowered Funds LLC increased its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 6.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,538 shares of the company's stock after buying an additional 95 shares during the period. Empowered Funds LLC's holdings in IDEXX Laboratories were worth $646,000 as of its most recent SEC filing. 87.84% of the stock is owned by institutional investors.

About IDEXX Laboratories

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.

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