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

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 10.370-10.530 for the period, compared to the consensus EPS 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 Stock Up 0.8 %

Shares of NASDAQ IDXX traded up $3.23 during mid-day trading on Friday, reaching $412.26. 1,102,488 shares of the company were exchanged, compared to its average volume of 516,105. IDEXX Laboratories has a 1 year low of $398.50 and a 1 year high of $583.39. The firm has a 50-day moving average of $435.18 and a 200 day moving average of $469.56. The stock has a market cap of $33.76 billion, a price-to-earnings ratio of 39.76, a P/E/G ratio of 3.99 and a beta of 1.37. 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 (NASDAQ:IDXX - Get Free Report) 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 business had revenue of $975.50 million during the quarter, compared to analyst estimates of $980.32 million. During the same period in the prior year, the firm posted $2.53 earnings per share. The company's quarterly revenue was up 6.6% on a year-over-year basis. On average, research analysts expect that IDEXX Laboratories will post 10.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on IDXX. StockNews.com upgraded IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Thursday, November 28th. Leerink Partners started coverage on IDEXX Laboratories in a research note on Monday, December 2nd. They issued an "outperform" rating and a $500.00 price target for the company. Stifel Nicolaus lowered their price target on IDEXX Laboratories from $510.00 to $500.00 and set a "hold" rating for the company in a report on Thursday, October 10th. Piper Sandler restated a "neutral" rating and set a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Finally, Leerink Partnrs upgraded shares of IDEXX Laboratories to a "strong-buy" rating in a research note on Monday, December 2nd. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $539.63.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the sale, the director now directly owns 905 shares of the company's stock, valued at approximately $380,498.20. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.11% of the company's stock.

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.