IDEXX Laboratories (NASDAQ:IDXX) Updates FY24 Earnings Guidance

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of 10.37-10.53 for the period, compared to the consensus earnings per share 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.

IDEXX Laboratories Stock Performance

IDXX traded down $44.16 on Thursday, hitting $406.92. 2,006,115 shares of the company traded hands, compared to its average volume of 488,387. IDEXX Laboratories has a 12-month low of $372.50 and a 12-month high of $583.39. The company has a 50 day moving average of $481.87 and a 200-day moving average of $488.22. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $33.49 billion, a PE ratio of 40.29, a PEG ratio of 4.03 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $2.44 earnings per share for the quarter, missing analysts' consensus estimates of $2.88 by ($0.44). The firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $1.01 billion. IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The business's quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business earned $2.67 earnings per share. Sell-side analysts anticipate that IDEXX Laboratories will post 10.44 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IDXX. Stifel Nicolaus cut their target price on IDEXX Laboratories from $510.00 to $500.00 and set a "hold" rating for the company in a research note on Thursday, October 10th. JPMorgan Chase & Co. lowered their price target 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. BTIG Research started coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They issued a "buy" rating and a $580.00 price objective for the company. StockNews.com lowered shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Wednesday, July 10th. Finally, Piper Sandler lowered their price target on IDEXX Laboratories from $600.00 to $520.00 and set a "neutral" rating on the stock in a report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $574.13.

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.