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

IDEXX Laboratories (NASDAQ:IDXX) updated its FY 2024 earnings guidance on Friday. 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IDXX. Leerink Partners began coverage on IDEXX Laboratories in a report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price target on the stock. Barclays dropped their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. 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. Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Finally, JPMorgan Chase & Co. decreased their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Two 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $539.63.

IDEXX Laboratories Stock Up 0.8 %

Shares of IDEXX Laboratories stock opened at $412.26 on Friday. IDEXX Laboratories has a 12-month low of $398.50 and a 12-month high of $583.39. The firm has a market capitalization of $33.76 billion, a PE ratio of 39.76, a price-to-earnings-growth ratio of 3.99 and a beta of 1.37. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. The stock’s fifty day moving average is $433.90 and its 200-day moving average is $469.00.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data 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. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The firm had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. During the same quarter in the previous year, the company earned $2.53 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. Equities analysts anticipate that IDEXX Laboratories will post 10.44 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Sophie V. Vandebroek sold 344 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total value of $144,631.36. Following the transaction, the director now owns 905 shares in the company, valued at $380,498.20. This represents a 27.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.