We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Idexx Laboratories (IDXX) Stock Sinks As Market Gains: What You Should Know
Read MoreHide Full Article
Idexx Laboratories (IDXX - Free Report) closed at $651.96 in the latest trading session, marking a -0.09% move from the prior day. This change lagged the S&P 500's 0.18% gain on the day.
Prior to today's trading, shares of the Animal diagnostic and health care company had gained 0.38% over the past month. This has outpaced the Medical sector's loss of 1.77% and lagged the S&P 500's gain of 2.96% in that time.
IDXX will be looking to display strength as it nears its next earnings release, which is expected to be November 2, 2021. On that day, IDXX is projected to report earnings of $1.88 per share, which would represent year-over-year growth of 11.24%. Meanwhile, our latest consensus estimate is calling for revenue of $793.26 million, up 9.9% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.36 per share and revenue of $3.19 billion. These totals would mark changes of +24.59% and +17.91%, respectively, from last year.
Any recent changes to analyst estimates for IDXX should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.14% higher. IDXX is currently a Zacks Rank #3 (Hold).
Looking at its valuation, IDXX is holding a Forward P/E ratio of 78.01. This represents a premium compared to its industry's average Forward P/E of 51.24.
Also, we should mention that IDXX has a PEG ratio of 3.92. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Instruments was holding an average PEG ratio of 3.3 at yesterday's closing price.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 158, putting it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Idexx Laboratories (IDXX) Stock Sinks As Market Gains: What You Should Know
Idexx Laboratories (IDXX - Free Report) closed at $651.96 in the latest trading session, marking a -0.09% move from the prior day. This change lagged the S&P 500's 0.18% gain on the day.
Prior to today's trading, shares of the Animal diagnostic and health care company had gained 0.38% over the past month. This has outpaced the Medical sector's loss of 1.77% and lagged the S&P 500's gain of 2.96% in that time.
IDXX will be looking to display strength as it nears its next earnings release, which is expected to be November 2, 2021. On that day, IDXX is projected to report earnings of $1.88 per share, which would represent year-over-year growth of 11.24%. Meanwhile, our latest consensus estimate is calling for revenue of $793.26 million, up 9.9% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.36 per share and revenue of $3.19 billion. These totals would mark changes of +24.59% and +17.91%, respectively, from last year.
Any recent changes to analyst estimates for IDXX should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.14% higher. IDXX is currently a Zacks Rank #3 (Hold).
Looking at its valuation, IDXX is holding a Forward P/E ratio of 78.01. This represents a premium compared to its industry's average Forward P/E of 51.24.
Also, we should mention that IDXX has a PEG ratio of 3.92. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Instruments was holding an average PEG ratio of 3.3 at yesterday's closing price.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 158, putting it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.