IDEXX Laboratories (NASDAQ:IDXX) Issues FY24 Earnings Guidance

IDEXX Laboratories (NASDAQ:IDXX) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $10.82-$11.20 for the period, compared to the consensus EPS estimate of $11.17. The company issued revenue guidance of $3.895-$3.965 billion, compared to the consensus revenue estimate of $3.99 billion. IDEXX Laboratories also updated its FY 2024 guidance to 10.820-11.200 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the stock a buy rating in a research report on Wednesday, January 17th. William Blair reissued an outperform rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. JPMorgan Chase & Co. raised their price target on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the company an overweight rating in a research report on Tuesday, February 6th. Barclays decreased their price target on shares of IDEXX Laboratories from $655.00 to $570.00 and set an overweight rating for the company in a research report on Thursday. Finally, StockNews.com cut shares of IDEXX Laboratories from a buy rating to a hold rating in a research report on Thursday. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $580.88.

IDEXX Laboratories Stock Up 1.0 %

Shares of IDEXX Laboratories stock traded up $4.78 during trading on Friday, hitting $480.60. 547,954 shares of the stock were exchanged, compared to its average volume of 509,434. The stock has a market cap of $39.69 billion, a price-to-earnings ratio of 46.52, a price-to-earnings-growth ratio of 3.74 and a beta of 1.27. The firm’s 50-day moving average price is $525.21 and its 200 day moving average price is $512.07. IDEXX Laboratories has a 12-month low of $372.50 and a 12-month high of $583.39. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.57 and a quick ratio of 1.17.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Monday, February 5th. The company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.20. The business had revenue of $901.60 million during the quarter, compared to analysts’ expectations of $891.88 million. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.05 EPS. As a group, analysts forecast that IDEXX Laboratories will post 11.06 earnings per share for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In related news, CFO Brian P. Mckeon sold 23,326 shares of IDEXX Laboratories stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the sale, the chief financial officer now directly owns 29,718 shares in the company, valued at approximately $16,939,557.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP George Fennell sold 8,198 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $573.87, for a total value of $4,704,586.26. Following the completion of the sale, the senior vice president now directly owns 6,712 shares of the company’s stock, valued at $3,851,815.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian P. Mckeon sold 23,326 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the transaction, the chief financial officer now owns 29,718 shares in the company, valued at $16,939,557.18. The disclosure for this sale can be found here. In the last three months, insiders sold 43,524 shares of company stock valued at $24,871,960. Insiders own 2.11% of the company’s stock.

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.