IDEXX Laboratories (NASDAQ:IDXX) Announces Earnings Results, Beats Expectations By $0.11 EPS

IDEXX Laboratories (NASDAQ:IDXX) announced its earnings results on Thursday. The company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.69 by $0.11, Briefing.com reports. The firm 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 business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the company posted $2.53 EPS. IDEXX Laboratories updated its FY 2024 guidance to 10.370-10.530 EPS and its FY24 guidance to 10.37-10.53 EPS.

IDEXX Laboratories Stock Up 2.5 %

Shares of NASDAQ IDXX traded up $10.36 during trading hours on Friday, hitting $417.28. The company had a trading volume of 994,132 shares, compared to its average volume of 490,774. The stock has a market capitalization of $34.35 billion, a P/E ratio of 41.69, a price-to-earnings-growth ratio of 3.94 and a beta of 1.33. IDEXX Laboratories has a 1-year low of $395.37 and a 1-year high of $583.39. The firm’s 50 day moving average is $480.17 and its 200-day moving average is $487.66. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.33.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IDXX. StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. 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 report on Friday, October 11th. BTIG Research initiated coverage on IDEXX Laboratories in a report on Thursday, July 25th. They set a “buy” rating and a $580.00 price objective for the company. Stifel Nicolaus dropped their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday, October 10th. Finally, Piper Sandler reduced their price target on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $574.13.

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.