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

IDEXX Laboratories (NASDAQ:IDXX) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 10.370-10.530 for the period, compared to the consensus EPS estimate of 10.520. The company issued revenue guidance of $3.9 billion-$3.9 billion, compared to the consensus revenue estimate of $3.9 billion.

IDEXX Laboratories Stock Up 0.7 %

Shares of IDXX opened at $451.08 on Thursday. The company has a market capitalization of $37.25 billion, a price-to-earnings ratio of 43.67, a PEG ratio of 4.03 and a beta of 1.33. IDEXX Laboratories has a 52 week low of $372.50 and a 52 week high of $583.39. The stock’s 50-day moving average price is $481.87 and its 200-day moving average price is $488.22. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.33.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.44). IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business earned $2.67 EPS. IDEXX Laboratories’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, sell-side analysts predict that IDEXX Laboratories will post 10.44 EPS for the current year.

Analysts Set New Price Targets

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

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.