IDEXX Laboratories (NASDAQ:IDXX) Announces Quarterly Earnings Results

IDEXX Laboratories (NASDAQ:IDXX) released its quarterly earnings data on Tuesday. The company reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.44), Briefing.com reports. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the business posted $2.67 earnings per share. IDEXX Laboratories updated its FY 2024 guidance to 10.310-10.590 EPS.

IDEXX Laboratories Trading Down 0.5 %

IDXX traded down $2.30 during trading on Wednesday, reaching $467.07. The company had a trading volume of 631,509 shares, compared to its average volume of 491,025. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 0.40. The business has a 50 day simple moving average of $487.07 and a 200-day simple moving average of $513.95. The stock has a market cap of $38.57 billion, a P/E ratio of 46.27, a PEG ratio of 3.91 and a beta of 1.32. IDEXX Laboratories has a 52 week low of $372.50 and a 52 week high of $583.39.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, Director Bruce L. Claflin sold 200 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $540.80, for a total value of $108,160.00. Following the transaction, the director now owns 161 shares of the company’s stock, valued at approximately $87,068.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.11% of the company’s stock.

Analyst Upgrades and Downgrades

IDXX has been the topic of a number of recent analyst reports. Stifel Nicolaus lowered their target price on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Morgan Stanley lowered their price objective on shares of IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a report on Tuesday, May 14th. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Barclays dropped their target price on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Finally, StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $582.88.

IDEXX Laboratories Company Profile

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.