William Blair Has Bullish Estimate for IDXX FY2024 Earnings

IDEXX Laboratories, Inc. (NASDAQ:IDXX) – Equities researchers at William Blair increased their FY2024 earnings estimates for IDEXX Laboratories in a research report issued on Monday, February 3rd. William Blair analyst R. Daniels now expects that the company will earn $10.67 per share for the year, up from their previous estimate of $10.38. The consensus estimate for IDEXX Laboratories’ current full-year earnings is $10.45 per share. William Blair also issued estimates for IDEXX Laboratories’ Q4 2024 earnings at $2.62 EPS, Q2 2025 earnings at $3.13 EPS, Q1 2026 earnings at $3.32 EPS, Q2 2026 earnings at $3.44 EPS, Q3 2026 earnings at $3.44 EPS, Q4 2026 earnings at $3.34 EPS and FY2026 earnings at $13.54 EPS.

Several other equities analysts have also commented on IDXX. Leerink Partners initiated coverage on shares of IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Stifel Nicolaus decreased their price objective 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. Piper Sandler reiterated a “neutral” rating and set a $435.00 price objective (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Finally, Morgan Stanley decreased their price objective on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $524.38.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $465.03 on Wednesday. IDEXX Laboratories has a one year low of $398.50 and a one year high of $583.39. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. The company has a 50 day moving average price of $424.92 and a 200 day moving average price of $453.54. The firm has a market capitalization of $38.08 billion, a price-to-earnings ratio of 44.84, a price-to-earnings-growth ratio of 3.64 and a beta of 1.37.

Insider Activity

In other news, Director Sophie V. Vandebroek sold 344 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the transaction, the director now directly owns 905 shares in the company, valued at approximately $380,498.20. This represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.18% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Sabal Trust CO bought a new position in IDEXX Laboratories during the 4th quarter valued at $812,000. JFG Wealth Management LLC bought a new position in IDEXX Laboratories during the 4th quarter valued at $305,000. FFT Wealth Management LLC bought a new position in IDEXX Laboratories during the 4th quarter valued at $227,000. Sterling Investment Advisors Ltd. bought a new position in IDEXX Laboratories during the 4th quarter valued at $455,000. Finally, BankPlus Trust Department bought a new position in IDEXX Laboratories during the 4th quarter valued at $60,000. 87.84% of the stock is currently owned by institutional investors.

About IDEXX Laboratories

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.