IDEXX Laboratories (NASDAQ:IDXX) Issues 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.

Wall Street Analysts Forecast Growth

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

IDEXX Laboratories Trading Up 2.5 %

IDXX stock traded up $10.36 during midday trading on Friday, reaching $417.28. The company’s stock had a trading volume of 994,156 shares, compared to its average volume of 675,492. The business’s 50-day simple moving average is $478.76 and its 200-day simple moving average is $487.13. The stock has a market cap of $34.35 billion, a PE ratio of 40.24, a price-to-earnings-growth ratio of 3.55 and a beta of 1.36. IDEXX Laboratories has a 52 week low of $395.37 and a 52 week high of $583.39. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Thursday, October 31st. The company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The business had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. During the same period in the previous year, the firm earned $2.53 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts expect 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.