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IDEXX Laboratories Stock Jumps on Testing Products Demand, Higher Prices
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Key points
- Idexx laboratory surpasses the revenue and income estimates of its animal test product sales and price increases.
- This veterinarian health care company benefits from higher demand for its partner animal group products.
- Idexx will provide new canine lymphoma tests in the United States and Canada in late March.
Stocks of Idexx Labs (IDXX) Soaring 10 % to lead S & P 500 With the report of veterinary medical products and service providers, it has won the needs of veterinary test products and higher prices, and its results exceed the expected results.
The company released the fourth quarter Earnings per share (EPS) $ 2.62, revenue increased by nearly 6 % year -on -year to US $ 954.3 million. Both exceed the visible alpha prediction.
Idexx increased its partner animal group (CAG) by 6 %. It noticed its CAG diagnosis Regular income It also increased by 6 %, and received the support of “high -quality placement of CAG diagnosis of capital tools, high customer reservation rates, new business income and net price realization”. ”
The company’s water testing business has increased by 8 %, “income from net price improvement and stable income in the United States and Europe.”
Idexx CEO highlights the “new wave of major innovation”
CEO Jay Mazelsky said that Idexx is “the front end of the new major wave of innovation” and pointed out that it will be a new cancer DX screening test for canine lymphoma provided in the United States and Canada in the end of next month.
The company’s annual income per share is US $ 11.74 to US $ 1224, with revenue from US $ 4.05 billion to $ 4.17 billion. Analysts of Alpha surveys are $ 1189 and $ 4.14 billion, respectively.
Despite today’s progress, Idexx laboratory stocks have fallen by about 12 % in the past year.
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