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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 move outpaced the S&P 500's daily gain of 0.62%. Elsewhere, the Dow gained 0.55%, while the tech-heavy Nasdaq lost 0.03%.
Heading into today, shares of the Animal diagnostic and health care company had gained 2.82% over the past month, outpacing the Medical sector's gain of 2.26% and the S&P 500's gain of 0.39% in that time.
Idexx Laboratories will be looking to display strength as it nears its next earnings release. On that day, Idexx Laboratories is projected to report earnings of $1.67 per share, which would represent a year-over-year decline of 16.92%. 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 might also notice 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Idexx Laboratories currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Idexx Laboratories currently has a Forward P/E ratio of 76.35. Its industry sports an average Forward P/E of 41.3, so we one might conclude that Idexx Laboratories is trading at a premium comparatively.
Meanwhile, IDXX's PEG ratio is currently 3.14. 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 2.54 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 180, which puts it in the bottom 30% 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 move outpaced the S&P 500's daily gain of 0.62%. Elsewhere, the Dow gained 0.55%, while the tech-heavy Nasdaq lost 0.03%.
Heading into today, shares of the Animal diagnostic and health care company had gained 2.82% over the past month, outpacing the Medical sector's gain of 2.26% and the S&P 500's gain of 0.39% in that time.
Idexx Laboratories will be looking to display strength as it nears its next earnings release. On that day, Idexx Laboratories is projected to report earnings of $1.67 per share, which would represent a year-over-year decline of 16.92%. 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 might also notice 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Idexx Laboratories currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Idexx Laboratories currently has a Forward P/E ratio of 76.35. Its industry sports an average Forward P/E of 41.3, so we one might conclude that Idexx Laboratories is trading at a premium comparatively.
Meanwhile, IDXX's PEG ratio is currently 3.14. 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 2.54 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 180, which puts it in the bottom 30% 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.