IDEXX Laboratories (NASDAQ:IDXX) Issues Quarterly Earnings Results, Beats Expectations By $0.11 EPS

IDEXX Laboratories (NASDAQ:IDXX) posted its earnings results on Thursday. The company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.69 by $0.11, Briefing.com reports. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The business had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. During the same period last year, the company earned $2.53 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. IDEXX Laboratories updated its FY 2024 guidance to 10.370-10.530 EPS and its FY24 guidance to 10.37-10.53 EPS.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $417.28 on Friday. The company has a fifty day moving average of $478.76 and a 200-day moving average of $487.13. The firm has a market capitalization of $34.35 billion, a P/E ratio of 40.24, a P/E/G ratio of 3.55 and a beta of 1.36. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. IDEXX Laboratories has a twelve month low of $395.37 and a twelve month high of $583.39.

Analyst Upgrades and Downgrades

Several research firms have issued reports on IDXX. StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. 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 report on Friday, October 11th. Piper Sandler lowered their price target on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Stifel Nicolaus lowered their price target on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. Finally, BTIG Research began coverage on shares of IDEXX Laboratories in a report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target for the company. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $574.13.

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.