IDEXX Laboratories (NASDAQ:IDXX) Updates FY24 Earnings Guidance

IDEXX Laboratories (NASDAQ:IDXX) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $10.37-10.53 for the period, compared to the consensus earnings per share estimate of $10.45. The company issued revenue guidance of $3.87-3.89 billion, compared to the consensus revenue estimate of $3.88 billion.

Analyst Ratings Changes

Several brokerages have recently commented on IDXX. JPMorgan Chase & Co. cut their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. 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 note on Thursday, October 10th. Barclays cut their price target on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, Piper Sandler restated a “neutral” rating and set a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $552.38.

IDEXX Laboratories Price Performance

IDXX opened at $417.24 on Friday. The business’s 50-day moving average is $460.86 and its two-hundred day moving average is $480.68. IDEXX Laboratories has a 1 year low of $398.50 and a 1 year high of $583.39. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The firm has a market capitalization of $34.17 billion, a PE ratio of 40.24, a price-to-earnings-growth ratio of 3.65 and a beta of 1.36.

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