IDEXX Laboratories (NASDAQ:IDXX) Releases Earnings Results

IDEXX Laboratories (NASDAQ:IDXX) announced its earnings results on Thursday. The company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11, Briefing.com reports. The company had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. IDEXX Laboratories’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.53 earnings per share. IDEXX Laboratories updated its FY 2024 guidance to 10.370-10.530 EPS and its FY24 guidance to 10.37-10.53 EPS.

IDEXX Laboratories Trading Up 2.5 %

Shares of NASDAQ IDXX traded up $10.36 during midday trading on Friday, reaching $417.28. 994,132 shares of the stock were exchanged, compared to its average volume of 490,774. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 1.03. IDEXX Laboratories has a 12 month low of $395.37 and a 12 month high of $583.39. The business has a 50-day simple moving average of $480.17 and a two-hundred day simple moving average of $487.66. The company has a market capitalization of $34.35 billion, a price-to-earnings ratio of 41.69, a P/E/G ratio of 3.94 and a beta of 1.33.

Wall Street Analyst Weigh In

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