IDEXX Laboratories (IDXX) to Release Quarterly Earnings on Wednesday

IDEXX Laboratories (NASDAQ:IDXX) is set to issue its quarterly earnings data before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of $2.68 per share for the quarter. IDEXX Laboratories has set its FY24 guidance at $10.84-11.33 EPS and its FY 2024 guidance at 10.840-11.330 EPS.Parties that wish to register for the company’s conference call can do so using this link.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Monday, February 5th. The company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.12 by $0.20. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. The business had revenue of $901.60 million for the quarter, compared to the consensus estimate of $891.88 million. During the same quarter in the prior year, the business earned $2.05 earnings per share. IDEXX Laboratories’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, analysts expect IDEXX Laboratories to post $11 EPS for the current fiscal year and $13 EPS for the next fiscal year.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock opened at $499.30 on Monday. IDEXX Laboratories has a 12 month low of $372.50 and a 12 month high of $583.39. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42. The business’s 50 day simple moving average is $531.02 and its 200 day simple moving average is $511.63. The company has a market cap of $41.47 billion, a price-to-earnings ratio of 49.58, a PEG ratio of 3.84 and a beta of 1.26.

Analyst Upgrades and Downgrades

IDXX has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price objective on IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Barclays upped their price objective on IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. The Goldman Sachs Group upped their price objective on IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Finally, Piper Sandler cut 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. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $591.50.

Insider Buying and Selling at IDEXX Laboratories

In other news, SVP George Fennell sold 8,198 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $573.87, for a total value of $4,704,586.26. Following the transaction, the senior vice president now owns 6,712 shares of the company’s stock, valued at $3,851,815.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP George Fennell sold 8,198 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $573.87, for a total value of $4,704,586.26. Following the transaction, the senior vice president now owns 6,712 shares of the company’s stock, valued at $3,851,815.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the completion of the transaction, the chief executive officer now directly owns 79,247 shares in the company, valued at approximately $45,377,624.67. The disclosure for this sale can be found here. Insiders have sold 43,524 shares of company stock valued at $24,871,960 in the last 90 days. 2.11% of the stock is currently owned by company 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.