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Idexx Laboratories (IDXX) Beats Stock Market Upswing: What Investors Need to Know
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In the latest market close, Idexx Laboratories (IDXX - Free Report) reached $519.81, with a +0.99% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 0.15% for the day. Meanwhile, the Dow experienced a drop of 0.02%, and the technology-dominated Nasdaq saw an increase of 0.32%.
Shares of the Animal diagnostic and health care company have depreciated by 6.13% over the course of the past month, underperforming the Medical sector's loss of 4.03% and the S&P 500's gain of 1.65%.
The upcoming earnings release of Idexx Laboratories will be of great interest to investors. The company's earnings report is expected on May 1, 2024. The company's upcoming EPS is projected at $2.68, signifying a 5.1% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $966.32 million, indicating a 7.34% upward movement from the same quarter last year.
IDXX's full-year Zacks Consensus Estimates are calling for earnings of $11.15 per share and revenue of $3.99 billion. These results would represent year-over-year changes of +10.83% and +9.04%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Idexx Laboratories. Such recent modifications usually signify the changing landscape 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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Idexx Laboratories holds a Zacks Rank of #2 (Buy).
Digging into valuation, Idexx Laboratories currently has a Forward P/E ratio of 46.17. This valuation marks a premium compared to its industry's average Forward P/E of 26.4.
We can additionally observe that IDXX currently boasts a PEG ratio of 2.82. 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 2.4 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 90, placing it within the top 36% of over 250 industries.
The Zacks Industry Rank is ordered 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Idexx Laboratories (IDXX) Beats Stock Market Upswing: What Investors Need to Know
In the latest market close, Idexx Laboratories (IDXX - Free Report) reached $519.81, with a +0.99% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 0.15% for the day. Meanwhile, the Dow experienced a drop of 0.02%, and the technology-dominated Nasdaq saw an increase of 0.32%.
Shares of the Animal diagnostic and health care company have depreciated by 6.13% over the course of the past month, underperforming the Medical sector's loss of 4.03% and the S&P 500's gain of 1.65%.
The upcoming earnings release of Idexx Laboratories will be of great interest to investors. The company's earnings report is expected on May 1, 2024. The company's upcoming EPS is projected at $2.68, signifying a 5.1% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $966.32 million, indicating a 7.34% upward movement from the same quarter last year.
IDXX's full-year Zacks Consensus Estimates are calling for earnings of $11.15 per share and revenue of $3.99 billion. These results would represent year-over-year changes of +10.83% and +9.04%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Idexx Laboratories. Such recent modifications usually signify the changing landscape 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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Idexx Laboratories holds a Zacks Rank of #2 (Buy).
Digging into valuation, Idexx Laboratories currently has a Forward P/E ratio of 46.17. This valuation marks a premium compared to its industry's average Forward P/E of 26.4.
We can additionally observe that IDXX currently boasts a PEG ratio of 2.82. 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 2.4 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 90, placing it within the top 36% of over 250 industries.
The Zacks Industry Rank is ordered 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.