IDEXX Laboratories (NASDAQ:IDXX) Issues FY 2024 Earnings Guidance

IDEXX Laboratories (NASDAQ:IDXX) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 10.370-10.530 for the period, compared to the consensus estimate of 10.520. The company issued revenue guidance of $3.9 billion-$3.9 billion, compared to the consensus revenue estimate of $3.9 billion. IDEXX Laboratories also updated its FY24 guidance to 10.37-10.53 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price target 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. Piper Sandler cut their target price on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 14th. BTIG Research began coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They issued a “buy” rating and a $580.00 target price on the stock. Stifel Nicolaus cut 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. Finally, StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $574.13.

IDEXX Laboratories Price Performance

Shares of IDEXX Laboratories stock traded up $10.36 during trading on Friday, hitting $417.28. 994,156 shares of the company’s stock traded hands, compared to its average volume of 490,774. The company has a market cap of $34.35 billion, a PE ratio of 41.31, a PEG ratio of 3.94 and a beta of 1.33. The firm’s fifty day moving average price is $478.76 and its 200 day moving average price is $487.14. IDEXX Laboratories has a twelve month low of $395.37 and a twelve month high of $583.39. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 1.03.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (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 analysts’ expectations of $980.32 million. IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the company posted $2.53 EPS. Analysts forecast that IDEXX Laboratories will post 10.44 earnings per share for the current year.

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.