IDEXX Laboratories (NASDAQ:IDXX) Updates FY24 Earnings Guidance

IDEXX Laboratories (NASDAQ:IDXX) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $10.82-$11.20 for the period, compared to the consensus EPS estimate of $11.17. The company issued revenue guidance of $3.895-$3.965 billion, compared to the consensus revenue estimate of $3.99 billion. IDEXX Laboratories also updated its FY 2024 guidance to 10.820-11.200 EPS.

Analyst Ratings Changes

Several research firms have commented on IDXX. William Blair reiterated an outperform rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Piper Sandler lowered shares of IDEXX Laboratories from an overweight rating to a neutral rating and set a $525.00 target price on the stock. in a report on Tuesday, January 30th. JPMorgan Chase & Co. raised their price target on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the company an overweight rating in a research note on Tuesday, February 6th. StockNews.com cut shares of IDEXX Laboratories from a buy rating to a hold rating in a research note on Thursday. Finally, The Goldman Sachs Group increased their price objective on IDEXX Laboratories from $500.00 to $650.00 and gave the company a buy rating in a report on Wednesday, January 17th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $580.88.

IDEXX Laboratories Trading Up 1.0 %

Shares of IDXX traded up $4.78 during trading hours on Friday, hitting $480.60. 547,954 shares of the stock were exchanged, compared to its average volume of 509,434. IDEXX Laboratories has a fifty-two week low of $372.50 and a fifty-two week high of $583.39. The business has a 50-day moving average of $525.21 and a 200-day moving average of $512.07. The firm has a market capitalization of $39.69 billion, a P/E ratio of 46.52, a price-to-earnings-growth ratio of 3.74 and a beta of 1.27. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.57 and a quick ratio of 1.17.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.20. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. The firm had revenue of $901.60 million during the quarter, compared to the consensus estimate of $891.88 million. During the same period last year, the business posted $2.05 EPS. The business’s revenue was up 8.8% compared to the same quarter last year. On average, research analysts expect that IDEXX Laboratories will post 11.06 EPS for the current year.

Insiders Place Their Bets

In related news, SVP George Fennell sold 8,198 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the transaction, the senior vice president now owns 6,712 shares in the company, valued at approximately $3,851,815.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP George Fennell sold 8,198 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $573.87, for a total value of $4,704,586.26. Following the completion of the sale, the senior vice president now directly owns 6,712 shares in the company, valued at approximately $3,851,815.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Brian P. Mckeon sold 23,326 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total value of $13,296,053.26. Following the transaction, the chief financial officer now directly owns 29,718 shares in the company, valued at $16,939,557.18. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,524 shares of company stock worth $24,871,960. 2.11% of the stock is owned by corporate insiders.

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.