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

IDEXX Laboratories (NASDAQ:IDXX) updated its FY 2024 earnings guidance on Thursday. 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. IDEXX Laboratories also updated its FY24 guidance to 10.37-10.53 EPS.

Analysts Set New Price Targets

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

IDEXX Laboratories Trading Up 2.5 %

NASDAQ:IDXX opened at $417.28 on Friday. IDEXX Laboratories has a one year low of $395.37 and a one year high of $583.39. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. The firm has a market cap of $34.35 billion, a P/E ratio of 40.24, a P/E/G ratio of 3.55 and a beta of 1.36. The firm has a 50-day simple moving average of $478.76 and a 200-day simple moving average of $487.13.

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

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.