IDEXX Laboratories (NASDAQ:IDXX) Updates 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 $10.45. The company issued revenue guidance of $3.87-3.89 billion, compared to the consensus revenue estimate of $3.88 billion.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on IDXX. BTIG Research initiated coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They set a “buy” rating and a $580.00 price objective for the company. Stifel Nicolaus reduced their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Thursday, October 10th. Barclays lowered their target price on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. lowered 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 report on Friday, October 11th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $552.38.

IDEXX Laboratories Trading Up 0.2 %

NASDAQ IDXX opened at $419.37 on Friday. The company has a market capitalization of $34.34 billion, a price-to-earnings ratio of 40.44, a price-to-earnings-growth ratio of 3.63 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. IDEXX Laboratories has a 12 month low of $398.50 and a 12 month high of $583.39. The company’s fifty day moving average price is $462.53 and its two-hundred day moving average price is $481.11.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11. The business had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the firm earned $2.53 earnings per share. As a group, research analysts predict that IDEXX Laboratories will post 10.43 earnings per share for the current fiscal 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.