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

IDEXX Laboratories (NASDAQ:IDXX) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 10.820-11.200 for the period, compared to the consensus estimate of 11.120. The company issued revenue guidance of $3.9 billion-$4.0 billion, compared to the consensus revenue estimate of $4.0 billion. IDEXX Laboratories also updated its FY24 guidance to $10.82-$11.20 EPS.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on IDXX. StockNews.com cut IDEXX Laboratories from a buy rating to a hold rating in a report on Thursday. Piper Sandler lowered IDEXX Laboratories from an overweight rating to a neutral rating and set a $525.00 price target for the company. in a research report on Tuesday, January 30th. JPMorgan Chase & Co. raised their price target on IDEXX Laboratories from $600.00 to $630.00 and gave the company an overweight rating in a report on Tuesday, February 6th. William Blair reaffirmed an outperform rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Finally, Barclays decreased their target price on shares of IDEXX Laboratories from $655.00 to $570.00 and set an overweight rating for the company in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, IDEXX Laboratories currently has an average rating of Moderate Buy and a consensus target price of $580.88.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $480.60 on Friday. IDEXX Laboratories has a 12-month low of $372.50 and a 12-month high of $583.39. The stock has a market capitalization of $39.69 billion, a P/E ratio of 46.52, a P/E/G ratio of 3.74 and a beta of 1.27. The firm’s 50 day moving average is $525.21 and its 200-day moving average is $512.07. 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 posted its quarterly earnings results on Monday, February 5th. The company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.20. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. The company had revenue of $901.60 million for the quarter, compared to analysts’ expectations of $891.88 million. During the same quarter in the prior year, the company earned $2.05 earnings per share. The firm’s revenue was up 8.8% on a year-over-year basis. Equities research analysts anticipate that IDEXX Laboratories will post 11.06 EPS for the current fiscal year.

Insider Activity

In other IDEXX Laboratories news, SVP George Fennell sold 8,198 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 6,712 shares in the company, valued at $3,851,815.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Brian P. Mckeon sold 23,326 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 29,718 shares of the company’s stock, valued at $16,939,557.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 directly owns 6,712 shares in the company, valued at $3,851,815.44. The disclosure for this sale can be found here. Insiders sold a total of 43,524 shares of company stock valued at $24,871,960 over the last three months. Insiders own 2.11% of the company’s stock.

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.