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

by · The Cerbat Gem

IDEXX Laboratories (NASDAQ:IDXX – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 10.370-10.530 for the period, compared to the consensus 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 also updated its FY24 guidance to 10.37-10.53 EPS.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered 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. Piper Sandler dropped their price objective on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. 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 target price for the company. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Finally, Stifel Nicolaus cut their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $574.13.

View Our Latest Report on IDXX

IDEXX Laboratories Trading Up 2.5 %

Shares of IDXX stock traded up $10.36 on Friday, reaching $417.28. 994,156 shares of the stock were exchanged, compared to its average volume of 490,774. The stock has a 50 day moving average price of $478.76 and a 200 day moving average price of $487.14. The stock has a market cap of $34.35 billion, a PE ratio of 41.31, a P/E/G ratio of 3.94 and a beta of 1.33. IDEXX Laboratories has a one year low of $395.37 and a one year high of $583.39. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 1.03.

IDEXX Laboratories (NASDAQ:IDXX – Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. The company had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.53 EPS. Equities research analysts forecast that IDEXX Laboratories will post 10.44 EPS for the current fiscal year.

About IDEXX Laboratories

(Get Free Report)

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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