IDEXX Laboratories (NASDAQ:IDXX) Issues Earnings Results, Beats Expectations By $0.20 EPS

IDEXX Laboratories (NASDAQ:IDXXGet Free Report) issued its earnings results on Monday. The company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.12 by $0.20, MarketWatch Earnings reports. The company had revenue of $901.60 million during the quarter, compared to analysts’ expectations of $891.88 million. IDEXX Laboratories had a net margin of 22.93% and a return on equity of 85.68%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.05 EPS. IDEXX Laboratories updated its FY24 guidance to $10.84-11.33 EPS and its FY 2024 guidance to 10.840-11.330 EPS.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $572.12 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 1.02 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $47.51 billion, a price-to-earnings ratio of 58.38, a P/E/G ratio of 2.92 and a beta of 1.25. The firm’s 50 day simple moving average is $532.94 and its 200 day simple moving average is $490.47. IDEXX Laboratories has a 1 year low of $372.50 and a 1 year high of $573.63.

Analyst Ratings Changes

A number of research firms have recently commented on IDXX. BNP Paribas began coverage on shares of IDEXX Laboratories in a research note on Thursday, December 7th. They set an “outperform” rating and a $602.00 price objective for the company. 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 note on Wednesday, January 17th. JPMorgan Chase & Co. dropped their target price on shares of IDEXX Laboratories from $600.00 to $550.00 and set an “overweight” rating on the stock in a report on Thursday, November 2nd. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a report on Friday, January 5th. Finally, Barclays increased their price target on shares of IDEXX Laboratories from $590.00 to $592.00 and gave the company an “overweight” rating in a report on Thursday, November 2nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $573.63.

Read Our Latest Analysis on IDXX

Insider Buying and Selling

In related news, CEO Jonathan Jay Mazelsky sold 7,128 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $513.05, for a total transaction of $3,657,020.40. Following the sale, the chief executive officer now owns 79,233 shares in the company, valued at approximately $40,650,490.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other IDEXX Laboratories news, EVP James F. Polewaczyk sold 11,636 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $521.79, for a total value of $6,071,548.44. Following the sale, the executive vice president now owns 10,050 shares in the company, valued at $5,243,989.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jonathan Jay Mazelsky sold 7,128 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $513.05, for a total transaction of $3,657,020.40. Following the completion of the sale, the chief executive officer now owns 79,233 shares in the company, valued at approximately $40,650,490.65. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On IDEXX Laboratories

Several large investors have recently modified their holdings of the business. Moneta Group Investment Advisors LLC raised its stake in shares of IDEXX Laboratories by 121,647.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,447,279 shares of the company’s stock valued at $3,038,192,000 after acquiring an additional 7,441,162 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of IDEXX Laboratories by 6.4% during the second quarter. Alliancebernstein L.P. now owns 3,592,832 shares of the company’s stock valued at $1,804,428,000 after acquiring an additional 214,529 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of IDEXX Laboratories by 1.4% during the first quarter. Geode Capital Management LLC now owns 1,946,339 shares of the company’s stock valued at $971,569,000 after acquiring an additional 26,197 shares during the last quarter. Capital World Investors raised its stake in shares of IDEXX Laboratories by 0.5% during the first quarter. Capital World Investors now owns 999,102 shares of the company’s stock valued at $546,577,000 after acquiring an additional 4,587 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of IDEXX Laboratories by 36.0% during the fourth quarter. Morgan Stanley now owns 986,232 shares of the company’s stock valued at $402,344,000 after acquiring an additional 260,926 shares during the last quarter. Institutional investors own 86.85% of the company’s stock.

About IDEXX Laboratories

(Get Free Report)

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.

Recommended Stories

Earnings History for IDEXX Laboratories (NASDAQ:IDXX)

Receive News & Ratings for IDEXX Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDEXX Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.