IDEXX Laboratories (NASDAQ:IDXX) Updates FY24 Earnings Guidance

IDEXX Laboratories (NASDAQ:IDXX) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of 10.37-10.53 for the period, compared to the consensus EPS estimate of $10.50. The company issued revenue guidance of $3.87-3.89 billion, compared to the consensus revenue estimate of $3.92 billion. IDEXX Laboratories also updated its FY 2024 guidance to 10.370-10.530 EPS.

Analyst Upgrades and Downgrades

IDXX has been the topic of several research reports. BTIG Research assumed coverage on shares of IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price target on the stock. JPMorgan Chase & Co. reduced their target price 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. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Stifel Nicolaus cut their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday, October 10th. Finally, Piper Sandler decreased their price objective on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, IDEXX Laboratories has an average rating of “Moderate Buy” and an average target price of $574.13.

IDEXX Laboratories Price Performance

Shares of IDEXX Laboratories stock traded up $10.36 on Friday, hitting $417.28. The company’s stock had a trading volume of 994,156 shares, compared to its average volume of 675,492. The company has a market capitalization of $34.35 billion, a price-to-earnings ratio of 40.24, a price-to-earnings-growth ratio of 3.55 and a beta of 1.36. IDEXX Laboratories has a 1 year low of $395.37 and a 1 year high of $583.39. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. The firm has a fifty day moving average price of $478.76 and a 200-day moving average price of $487.13.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.69 by $0.11. The company had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. During the same period last year, the company earned $2.53 earnings per share. IDEXX Laboratories’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that IDEXX Laboratories will post 10.44 earnings per share for the current fiscal 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.