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Idexx Laboratories (IDXX) Outpaces Stock Market Gains: What You Should Know
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Idexx Laboratories (IDXX - Free Report) closed the most recent trading day at $618.55, moving +1.16% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.31%. At the same time, the Dow added 0.1%, and the tech-heavy Nasdaq gained 0.48%.
Heading into today, shares of the Animal diagnostic and health care company had lost 2.83% over the past month, outpacing the Medical sector's loss of 3.92% and lagging the S&P 500's loss of 0.04% in that time.
Investors will be hoping for strength from Idexx Laboratories as it approaches its next earnings release. The company is expected to report EPS of $1.67, down 16.92% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $779.98 million, up 8.19% from the year-ago period.
IDXX's full-year Zacks Consensus Estimates are calling for earnings of $8.38 per share and revenue of $3.19 billion. These results would represent year-over-year changes of +24.89% and +18.02%, respectively.
Investors should also note any recent changes to analyst estimates for Idexx Laboratories. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.01% lower within the past month. Idexx Laboratories is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Idexx Laboratories's current valuation metrics, including its Forward P/E ratio of 72.93. This valuation marks a premium compared to its industry's average Forward P/E of 40.31.
Investors should also note that IDXX has a PEG ratio of 3 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Instruments industry currently had an average PEG ratio of 3 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 179, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow IDXX in the coming trading sessions, be sure to utilize Zacks.com.
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Idexx Laboratories (IDXX) Outpaces Stock Market Gains: What You Should Know
Idexx Laboratories (IDXX - Free Report) closed the most recent trading day at $618.55, moving +1.16% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.31%. At the same time, the Dow added 0.1%, and the tech-heavy Nasdaq gained 0.48%.
Heading into today, shares of the Animal diagnostic and health care company had lost 2.83% over the past month, outpacing the Medical sector's loss of 3.92% and lagging the S&P 500's loss of 0.04% in that time.
Investors will be hoping for strength from Idexx Laboratories as it approaches its next earnings release. The company is expected to report EPS of $1.67, down 16.92% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $779.98 million, up 8.19% from the year-ago period.
IDXX's full-year Zacks Consensus Estimates are calling for earnings of $8.38 per share and revenue of $3.19 billion. These results would represent year-over-year changes of +24.89% and +18.02%, respectively.
Investors should also note any recent changes to analyst estimates for Idexx Laboratories. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.01% lower within the past month. Idexx Laboratories is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Idexx Laboratories's current valuation metrics, including its Forward P/E ratio of 72.93. This valuation marks a premium compared to its industry's average Forward P/E of 40.31.
Investors should also note that IDXX has a PEG ratio of 3 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Instruments industry currently had an average PEG ratio of 3 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 179, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow IDXX in the coming trading sessions, be sure to utilize Zacks.com.