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

IDEXX Laboratories (NASDAQ:IDXX) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 10.370-10.530 for the period, compared to the consensus 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.

Analyst Upgrades and Downgrades

IDXX has been the subject of a number of analyst reports. Stifel Nicolaus cut their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. JPMorgan Chase & Co. reduced their target price on 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 decreased their price target on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. BTIG Research initiated coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective for the company. Finally, StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $574.13.

IDEXX Laboratories Price Performance

NASDAQ IDXX traded up $10.36 on Friday, reaching $417.28. 994,156 shares of the company’s stock traded hands, compared to its average volume of 490,774. The stock has a market cap of $34.35 billion, a PE ratio of 41.31, a P/E/G ratio of 3.94 and a beta of 1.33. IDEXX Laboratories has a 12 month low of $395.37 and a 12 month high of $583.39. The stock has a 50-day simple moving average of $478.76 and a 200 day simple moving average of $487.14. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 1.03.

IDEXX Laboratories (NASDAQ:IDXX) last released its 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. The company had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.53 EPS. As a group, research analysts predict that IDEXX Laboratories will post 10.44 earnings per share for the current 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.