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

IDEXX Laboratories (NASDAQ:IDXX) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 10.820-11.200 for the period, compared to the consensus EPS 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.

Analysts Set New Price Targets

IDXX has been the subject of a number of research reports. Barclays dropped their price objective on IDEXX Laboratories from $655.00 to $570.00 and set an overweight rating for the company in a research note on Thursday. The Goldman Sachs Group lifted their target price on IDEXX Laboratories from $500.00 to $650.00 and gave the company a buy rating in a research report on Wednesday, January 17th. Piper Sandler cut shares of IDEXX Laboratories from an overweight rating to a neutral rating and set a $525.00 price target on the stock. in a research report on Tuesday, January 30th. William Blair reissued an outperform rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Finally, StockNews.com downgraded shares of IDEXX Laboratories from a buy rating to a hold rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, IDEXX Laboratories has an average rating of Moderate Buy and a consensus price target of $580.88.

IDEXX Laboratories Stock Up 1.0 %

IDXX stock opened at $480.60 on Friday. The company’s 50 day moving average price is $525.21 and its 200 day moving average price is $512.07. The firm has a market capitalization of $39.69 billion, a price-to-earnings ratio of 46.52, a PEG ratio of 3.74 and a beta of 1.27. IDEXX Laboratories has a fifty-two week low of $372.50 and a fifty-two week high of $583.39. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.17 and a current ratio of 1.57.

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

Insider Buying and Selling at IDEXX Laboratories

In related news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total value of $6,871,320.00. Following the completion of the transaction, the chief executive officer now directly owns 79,247 shares of the company’s stock, valued at $45,377,624.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP George Fennell sold 8,198 shares of IDEXX Laboratories stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the sale, the senior vice president now owns 6,712 shares in the company, valued at $3,851,815.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total value of $6,871,320.00. Following the completion of the sale, the chief executive officer now directly owns 79,247 shares of the company’s stock, valued at $45,377,624.67. The disclosure for this sale can be found here. Insiders have sold a total of 43,524 shares of company stock worth $24,871,960 over the last ninety days. Corporate 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.