IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) announced its quarterly earnings data on Thursday. The company reported $2.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.69 by $0.11, Briefing.com reports. The business had revenue of $975.50 million for 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 quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the firm posted $2.53 earnings per share. 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 Trading Up 2.5 %
Shares of NASDAQ:IDXX traded up $10.36 during mid-day trading on Friday, reaching $417.28. 994,156 shares of the company's stock were exchanged, compared to its average volume of 490,774. The firm has a market capitalization of $34.35 billion, a price-to-earnings ratio of 41.31, a PEG ratio of 3.94 and a beta of 1.33. The business's fifty day moving average price is $478.76 and its 200-day moving average price is $487.13. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.37. IDEXX Laboratories has a twelve month low of $395.37 and a twelve month high of $583.39.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on IDXX shares. StockNews.com cut shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Wednesday, July 10th. Stifel Nicolaus decreased their target price on shares of IDEXX Laboratories from $510.00 to $500.00 and set a "hold" rating on the stock in a research note on Thursday, October 10th. Piper Sandler decreased 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. JPMorgan Chase & Co. decreased their target price on shares of IDEXX Laboratories from $630.00 to $575.00 and set an "overweight" rating on the stock in a research note on Friday, October 11th. Finally, BTIG Research started coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They set a "buy" rating and a $580.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $574.13.
Check Out Our Latest Stock Analysis on IDXX
IDEXX Laboratories Company Profile
(
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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.
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