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

IDEXX Laboratories (NASDAQ:IDXXGet Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 10.370-10.530 for the period, compared to the consensus EPS 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 Price Performance

Shares of IDXX stock opened at $451.08 on Thursday. The firm’s 50-day moving average is $481.87 and its two-hundred day moving average is $488.22. The company has a market capitalization of $37.25 billion, a PE ratio of 43.67, a price-to-earnings-growth ratio of 4.03 and a beta of 1.33. 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 has a 12 month low of $372.50 and a 12 month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXXGet Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.88 by ($0.44). IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business earned $2.67 EPS. IDEXX Laboratories’s revenue was up 6.4% compared to the same quarter last year. Analysts predict that IDEXX Laboratories will post 10.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on IDXX shares. Stifel Nicolaus cut their price target 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. JPMorgan Chase & Co. reduced their price objective 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. BTIG Research started coverage on IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 price target on the stock. StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Finally, Piper Sandler cut their price target 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. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $574.13.

Read Our Latest Research Report on IDXX

IDEXX Laboratories Company Profile

(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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Earnings History and Estimates for IDEXX Laboratories (NASDAQ:IDXX)

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