IDEXX Laboratories (NASDAQ:IDXX) Releases FY24 Earnings Guidance

IDEXX Laboratories (NASDAQ:IDXX) issued an update on its FY24 earnings guidance on Thursday morning. 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.

Analysts Set New Price Targets

Several research analysts have recently weighed in on IDXX shares. Barclays lowered their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Piper Sandler reissued a “neutral” rating and set a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Stifel Nicolaus dropped their price objective 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, JPMorgan Chase & Co. reduced their target price on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Three research 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $552.38.

IDEXX Laboratories Stock Down 0.3 %

IDEXX Laboratories stock opened at $417.24 on Friday. The company has a market capitalization of $34.17 billion, a P/E ratio of 40.24, a PEG ratio of 3.65 and a beta of 1.36. IDEXX Laboratories has a fifty-two week low of $398.50 and a fifty-two week high of $583.39. The stock has a 50-day simple moving average of $460.86 and a 200-day simple moving average of $480.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The firm had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. During the same quarter in the prior year, the firm earned $2.53 EPS. IDEXX Laboratories’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities research analysts expect that IDEXX Laboratories will post 10.43 earnings per share for the current 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.