IDEXX Laboratories (NASDAQ:IDXX) Updates 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.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $412.26 on Friday. The company has a market cap of $33.76 billion, a PE ratio of 39.76, a PEG ratio of 3.99 and a beta of 1.37. 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 has a 1 year low of $398.50 and a 1 year high of $583.39. The company’s 50-day moving average is $433.90 and its two-hundred day moving average is $468.85.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share 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 for the quarter, compared to analyst estimates of $980.32 million. During the same period in the prior year, the business posted $2.53 earnings per share. IDEXX Laboratories’s revenue 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.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. JPMorgan Chase & Co. lowered 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. Leerink Partners started coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They set an “outperform” rating and a $500.00 price objective on the stock. Barclays decreased their price objective on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $539.63.

Insider Buying and Selling

In related news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total value of $144,631.36. Following the sale, the director now owns 905 shares of the company’s stock, valued at approximately $380,498.20. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.11% of the stock is currently owned by company insiders.

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.