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June 24, 2014
07:41 EDTIDXXIDEXX upgraded to Buy from Hold at Canaccord
As previously reported Canaccord upgraded IDEXX to Buy from Hold. The firm expects the Q4 launch of Catalyst One to drive share gain in the lower-volume vet market and drive IDEXX's revenue growth in 2015. Price target raised to $146 from $116.
News For IDXX From The Last 14 Days
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July 25, 2014
07:32 EDTIDXXAmerican Veterinary Medical Association to hold a conference
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07:06 EDTIDXXIDEXX sees FY15 organic revenue growth of 9%-10%
Operating margins, excluding previously described transitional impacts in both 2014 and 2015, are expected to be relatively flat next year.
07:05 EDTIDXXIDEXX backs FY14 adjusted EPS $3.79-$3.86, consensus $3.84
Sees FY14 revenue $1.51B-$1.52B, consensus $1.5B; Sees FY14 free cash flow is 95%-100% of net income; Sees FY14 CapEx $80M.
07:04 EDTIDXXIDEXX says all-direct distribution model to capture $50M-$55M in additional reve
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07:02 EDTIDXXIDEXX board authorized repurchase of up to an addition 5M shares of common stock
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07:02 EDTIDXXIDEXX plans to move from hybrid to all-direct product distribution model in 2015
The comapny said, "Under this approach, we intend to take orders, ship product, invoice and receive payment, and recognize revenue for all rapid assay test kits and instrument consumables in the US, aligning with our direct model for instruments, reference lab services, and other CAG products and services... The change to an all-direct product distribution approach will allow a significant expansion in our direct sales coverage and capacity, including an estimated 40% increase in the Veterinary Diagnostic Consultant field sales role and a 60% increase in customer field call frequency. With this increase, we will be much better equipped to support our US veterinary customers' growth in the use of IDEXX diagnostics to provide the best medical care for their patients and clients. The change will result in an incremental annual $50 million to $55 million, or 5%, increase in our fast growing recurring diagnostic revenue, with accretive profit benefits that will scale over time, following the transition to the new model."
07:01 EDTIDXXIDEXX reports Q2 EPS $1.10, consensus $1.06
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July 22, 2014
07:08 EDTIDXXLife Sciences highlights this week at Canaccord
Canaccord highlighted six diagnostic names that report this week and recommends buying Top Pick IDEXX (IDXX) into the print given strong recurring razor/razorblade sales and consistent organic growth. The analyst expects Hold rated Quest Diagnostics (DGX) to report upside to Street estimates of $1.06/$1.882B, Quidel (QDEL) to have an uneventful report, Exact Sciences (EXAS) to provide an update on numerous catalysts near-term and Abaxis (ABAX) to report earnings below consensus. Lastly, the firm is cautious on Meridian Bioscience (VIVO) following a competitor report last week.

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