IDEXX Laboratories (NASDAQ:IDXX) Issues FY24 Earnings Guidance

IDEXX Laboratories (NASDAQ:IDXX) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of 10.37-10.53 for the period, compared to the consensus earnings per share estimate of $10.50. The company issued revenue guidance of $3.87-3.89 billion, compared to the consensus revenue estimate of $3.92 billion. IDEXX Laboratories also updated its FY 2024 guidance to 10.370-10.530 EPS.

IDEXX Laboratories Trading Up 2.5 %

NASDAQ:IDXX opened at $417.28 on Friday. The firm has a fifty day simple moving average of $478.76 and a two-hundred day simple moving average of $487.13. IDEXX Laboratories has a 12 month low of $395.37 and a 12 month high of $583.39. The stock has a market capitalization of $34.35 billion, a price-to-earnings ratio of 40.24, a PEG ratio of 3.55 and a beta of 1.36. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The business had revenue of $975.50 million during the quarter, compared to analyst estimates of $980.32 million. During the same period in the previous year, the company posted $2.53 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. Analysts expect that IDEXX Laboratories will post 10.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. BTIG Research initiated coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 target price for the company. JPMorgan Chase & Co. lowered their target price on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Piper Sandler cut their price target on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research note on Wednesday, August 14th. Finally, Stifel Nicolaus decreased their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $574.13.

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.