IDEXX Laboratories (NASDAQ:IDXX) Updates FY24 Earnings Guidance

IDEXX Laboratories (NASDAQ:IDXX) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $10.82-$11.20 for the period, compared to the consensus earnings per share estimate of $11.17. The company issued revenue guidance of $3.895-$3.965 billion, compared to the consensus revenue estimate of $3.99 billion. IDEXX Laboratories also updated its FY 2024 guidance to 10.820-11.200 EPS.

Wall Street Analyst Weigh In

IDXX has been the subject of a number of recent analyst reports. The Goldman Sachs Group increased their price target on IDEXX Laboratories from $500.00 to $650.00 and gave the company a buy rating in a research report on Wednesday, January 17th. StockNews.com lowered IDEXX Laboratories from a buy rating to a hold rating in a research report on Thursday. Piper Sandler lowered IDEXX Laboratories from an overweight rating to a neutral rating and set a $525.00 price target for the company. in a research report on Tuesday, January 30th. JPMorgan Chase & Co. increased their price target on IDEXX Laboratories from $600.00 to $630.00 and gave the company an overweight rating in a research report on Tuesday, February 6th. Finally, Barclays decreased their price target on IDEXX Laboratories from $655.00 to $570.00 and set an overweight rating for the company in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $580.88.

IDEXX Laboratories Stock Performance

Shares of IDXX stock traded up $4.78 during trading on Friday, reaching $480.60. The company had a trading volume of 547,954 shares, compared to its average volume of 509,434. The firm’s 50 day simple moving average is $525.21 and its two-hundred day simple moving average is $512.07. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.57 and a quick ratio of 1.17. IDEXX Laboratories has a one year low of $372.50 and a one year high of $583.39. The company has a market capitalization of $39.69 billion, a PE ratio of 46.52, a PEG ratio of 3.74 and a beta of 1.27.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.20. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. The business had revenue of $901.60 million for the quarter, compared to the consensus estimate of $891.88 million. During the same period last year, the business earned $2.05 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. Sell-side analysts forecast that IDEXX Laboratories will post 11.06 earnings per share for the current year.

Insiders Place Their Bets

In other IDEXX Laboratories news, CFO Brian P. Mckeon sold 23,326 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total value of $13,296,053.26. Following the transaction, the chief financial officer now directly owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the sale, the chief executive officer now directly owns 79,247 shares in the company, valued at $45,377,624.67. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Brian P. Mckeon sold 23,326 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total value of $13,296,053.26. Following the sale, the chief financial officer now owns 29,718 shares in the company, valued at $16,939,557.18. The disclosure for this sale can be found here. Insiders have sold a total of 43,524 shares of company stock valued at $24,871,960 in the last three months. 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.