IDEXX Laboratories (IDXX) Scheduled to Post Quarterly Earnings on Wednesday

IDEXX Laboratories (NASDAQ:IDXX) is set to post its quarterly earnings results before the market opens on Wednesday, May 1st. Analysts expect IDEXX Laboratories to post earnings of $2.68 per share for the quarter. IDEXX Laboratories has set its FY24 guidance at $10.84-11.33 EPS and its FY 2024 guidance at 10.840-11.330 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Monday, February 5th. The company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.12 by $0.20. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. The business had revenue of $901.60 million during the quarter, compared to the consensus estimate of $891.88 million. During the same period in the prior year, the business posted $2.05 earnings per share. IDEXX Laboratories’s revenue was up 8.8% compared to the same quarter last year. On average, analysts expect IDEXX Laboratories to post $11 EPS for the current fiscal year and $13 EPS for the next fiscal year.

IDEXX Laboratories Trading Up 1.2 %

Shares of NASDAQ IDXX opened at $505.34 on Tuesday. IDEXX Laboratories has a 12 month low of $372.50 and a 12 month high of $583.39. The company has a market cap of $41.97 billion, a price-to-earnings ratio of 50.18, a P/E/G ratio of 3.85 and a beta of 1.26. The company has a quick ratio of 1.17, a current ratio of 1.57 and a debt-to-equity ratio of 0.42. The business has a fifty day simple moving average of $530.02 and a 200-day simple moving average of $512.17.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. The Goldman Sachs Group upped their target price on IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Barclays increased their price objective on IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Piper Sandler downgraded IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price objective for the company. in a research note on Tuesday, January 30th. JPMorgan Chase & Co. increased their price objective on IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Finally, William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $591.50.

Insiders Place Their Bets

In other IDEXX Laboratories news, CFO Brian P. Mckeon sold 23,326 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total value of $13,296,053.26. Following the transaction, the chief financial officer now directly owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other IDEXX Laboratories news, CFO Brian P. Mckeon sold 23,326 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total value of $13,296,053.26. Following the transaction, the chief financial officer now directly owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total value of $6,871,320.00. Following the completion of the transaction, the chief executive officer now directly owns 79,247 shares in the company, valued at $45,377,624.67. The disclosure for this sale can be found here. Insiders have sold a total of 43,524 shares of company stock valued at $24,871,960 in the last three months. Insiders own 2.18% of the company’s stock.

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.