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Idexx Laboratories (IDXX) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Idexx Laboratories (IDXX - Free Report) closed at $645.02, marking a +0.78% move from the previous day. This change outpaced the S&P 500's 0.62% gain on the day. Meanwhile, the Dow gained 0.55%, and the Nasdaq, a tech-heavy index, lost 0.03%.
Prior to today's trading, shares of the Animal diagnostic and health care company had gained 3.63% over the past month. This has outpaced the Medical sector's gain of 2.92% and the S&P 500's gain of 0.87% in that time.
Investors will be hoping for strength from Idexx Laboratories as it approaches its next earnings release. In that report, analysts expect Idexx Laboratories to post earnings of $1.67 per share. This would mark a year-over-year decline of 16.92%. Meanwhile, our latest consensus estimate is calling for revenue of $779.98 million, up 8.19% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.38 per share and revenue of $3.19 billion. These totals would mark changes of +24.89% and +18.02%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Idexx Laboratories. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Idexx Laboratories currently has a Zacks Rank of #3 (Hold).
Investors should also note Idexx Laboratories's current valuation metrics, including its Forward P/E ratio of 76.94. Its industry sports an average Forward P/E of 41.49, so we one might conclude that Idexx Laboratories is trading at a premium comparatively.
Also, we should mention that IDXX has a PEG ratio of 3.16. 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. IDXX's industry had an average PEG ratio of 2.57 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 177, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Idexx Laboratories (IDXX) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Idexx Laboratories (IDXX - Free Report) closed at $645.02, marking a +0.78% move from the previous day. This change outpaced the S&P 500's 0.62% gain on the day. Meanwhile, the Dow gained 0.55%, and the Nasdaq, a tech-heavy index, lost 0.03%.
Prior to today's trading, shares of the Animal diagnostic and health care company had gained 3.63% over the past month. This has outpaced the Medical sector's gain of 2.92% and the S&P 500's gain of 0.87% in that time.
Investors will be hoping for strength from Idexx Laboratories as it approaches its next earnings release. In that report, analysts expect Idexx Laboratories to post earnings of $1.67 per share. This would mark a year-over-year decline of 16.92%. Meanwhile, our latest consensus estimate is calling for revenue of $779.98 million, up 8.19% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.38 per share and revenue of $3.19 billion. These totals would mark changes of +24.89% and +18.02%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Idexx Laboratories. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Idexx Laboratories currently has a Zacks Rank of #3 (Hold).
Investors should also note Idexx Laboratories's current valuation metrics, including its Forward P/E ratio of 76.94. Its industry sports an average Forward P/E of 41.49, so we one might conclude that Idexx Laboratories is trading at a premium comparatively.
Also, we should mention that IDXX has a PEG ratio of 3.16. 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. IDXX's industry had an average PEG ratio of 2.57 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 177, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.