IDEXX Laboratories Inc. (IDXX) looking to reclaim success with recent performance

IDEXX Laboratories Inc. (NASDAQ: IDXX) stock fell -5.18% on Tuesday to $461.08 against a previous-day closing price of $486.25. With 0.6 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.38 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $481.56 whereas the lowest price it dropped to was $455.46. The 52-week range on IDXX shows that it touched its highest point at $515.79 and its lowest point at $317.06 during that stretch. It currently has a 1-year price target of $559.67. Beta for the stock currently stands at 1.19.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of IDXX was down-trending over the past week, with a drop of -6.27%, but this was down by -8.45% over a month. Three-month performance dropped to -3.19% while six-month performance rose 11.40%. The stock gained 23.87% in the past year, while it has gained 13.02% so far this year. A look at the trailing 12-month EPS for IDXX yields 8.31 with Next year EPS estimates of 11.08. For the next quarter, that number is 2.47. This implies an EPS growth rate of -6.70% for this year and 14.26% for next year. EPS is expected to grow by 15.60% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 19.60%.

Float and Shares Shorts:

At present, 82.99 million IDXX shares are outstanding with a float of 82.01 million shares on hand for trading. On Apr 27, 2023, short shares totaled 2.06 million, which was 2.49% higher than short shares on Mar 30, 2023. In addition to Mr. Jonathan J. Mazelsky as the firm’s Pres, CEO & Director, Mr. Brian P. McKeon serves as its CFO, Exec. VP & Treasurer.

Institutional Ownership:

Through their ownership of 92.80% of IDXX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 55.99% of IDXX, in contrast to 33.82% held by mutual funds. Shares owned by individuals account for 1.95%. As the largest shareholder in IDXX with 9.39% of the stake, The Vanguard Group, Inc. holds 7,784,587 shares worth 7,784,587. A second-largest stockholder of IDXX, BlackRock Fund Advisors, holds 5,015,607 shares, controlling over 6.05% of the firm’s shares. Fundsmith LLP is the third largest shareholder in IDXX, holding 4,447,828 shares or 5.37% stake. With a 4.11% stake in IDXX, the Fundsmith Equity Fund is the largest stakeholder. A total of 3,410,365 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.10% of IDXX stock, is the second-largest Mutual Fund holder. It holds 2,569,773 shares valued at 1.26 billion. Vanguard 500 Index Fund holds 2.33% of the stake in IDXX, owning 1,933,516 shares worth 951.6 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, IDXX reported revenue of $860.55M and operating income of $179.07M. The EBITDA in the recently reported quarter was $179.07M and diluted EPS was $1.56.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for IDXX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With IDXX analysts setting a high price target of $600.00 and a low target of $500.00, the average target price over the next 12 months is $561.89. Based on these targets, IDXX could surge 30.13% to reach the target high and rise by 8.44% to reach the target low. Reaching the average price target will result in a growth of 21.86% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded IDXX stock several times over the past three months with 1 Buys and 0 Sells. In these transactions, 13 shares were bought while 0 shares were sold. The number of buy transactions has increased to 58 while that of sell transactions has risen to 43 over the past year. The total number of shares bought during that period was 536,518 while 538,159 shares were sold.

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