IDEXX Laboratories (NASDAQ:IDXX) Releases FY24 Earnings Guidance

IDEXX Laboratories (NASDAQ:IDXX) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 10.37-10.53 for the period, compared to the consensus estimate of $10.50. The company issued revenue guidance of $3.87-3.89 billion, compared to the consensus revenue estimate of $3.92 billion. IDEXX Laboratories also updated its FY 2024 guidance to 10.370-10.530 EPS.

Analyst Upgrades and Downgrades

Several research firms recently commented on IDXX. Stifel Nicolaus dropped their price target on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday, October 10th. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Piper Sandler decreased their price objective on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. JPMorgan Chase & Co. decreased their price objective on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Finally, BTIG Research initiated coverage on shares of IDEXX Laboratories in a report on Thursday, July 25th. They set a “buy” rating and a $580.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $574.13.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX traded down $36.66 during midday trading on Thursday, hitting $414.42. The company’s stock had a trading volume of 221,034 shares, compared to its average volume of 479,927. The business’s 50 day simple moving average is $481.87 and its 200 day simple moving average is $488.22. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.37. The company has a market cap of $34.23 billion, a P/E ratio of 39.71, a price-to-earnings-growth ratio of 4.03 and a beta of 1.33. IDEXX Laboratories has a 12-month low of $372.50 and a 12-month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.88 by ($0.44). IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the business posted $2.67 earnings per share. The business’s quarterly revenue was up 6.4% on a year-over-year basis. On average, analysts forecast that IDEXX Laboratories will post 10.44 EPS for the current year.

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.