Banking

Idexx Earnings Easily Beat With Stock Near Buy Point

Early Tuesday, Idexx Laboratories (IDXX) reported adjusted earnings of $2.35 per share on $778 million in sales for its first quarter. Idexx stock fell in response.




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On average, analysts polled by FactSet expected Idexx to earn $1.71 per share on $738.4 million in sales.

In the year-ago period, Idexx earnings were $1.29 per share and the animal diagnostics player had $626.3 million in sales.

For the year, Idexx guided to earnings of $7.88-$8.18 a share with revenue of $3.105 billion to $3.16 billion. Analysts called for Idexx earnings of $7.57 per share and $3.1 billion in sales.

In morning trading on the stock market today, Idexx stock fell 1.7% near 540.80. Idexx stock is forming a cup-with-handle base with a buy point at 561.62, according to MarketSmith.com.

Idexx Labs is on the IBD Long-Term Leaders List.

More to follow.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.

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