IDEXX Laboratories (NASDAQ:IDXX) Issues FY 2024 Earnings Guidance

IDEXX Laboratories (NASDAQ:IDXX) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 10.370-10.530 for the period, compared to the consensus EPS estimate of 10.520. The company issued revenue guidance of $3.9 billion-$3.9 billion, compared to the consensus revenue estimate of $3.9 billion.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Stifel Nicolaus lowered their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Leerink Partners began coverage on IDEXX Laboratories in a research note on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $539.63.

IDEXX Laboratories Price Performance

IDXX opened at $409.03 on Friday. The firm has a market cap of $33.49 billion, a PE ratio of 39.44, a P/E/G ratio of 3.99 and a beta of 1.37. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. IDEXX Laboratories has a 1 year low of $398.50 and a 1 year high of $583.39. The stock has a 50-day moving average price of $435.18 and a 200-day moving average price of $469.56.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.11. The firm had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The business’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.53 earnings per share. Sell-side analysts predict that IDEXX Laboratories will post 10.44 earnings per share for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the transaction, the director now directly owns 905 shares in the company, valued at $380,498.20. This represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.11% of the company’s stock.

About IDEXX Laboratories

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.