IDEXX Laboratories (NASDAQ:IDXX) Issues FY24 Earnings Guidance

IDEXX Laboratories (NASDAQ:IDXX) issued an update on its FY24 earnings guidance on Wednesday morning. 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.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Barclays lowered their target price on IDEXX Laboratories from $655.00 to $570.00 and set an overweight rating for the company in a research report on Thursday. Piper Sandler downgraded IDEXX Laboratories from an overweight rating to a neutral rating and set a $525.00 price objective on the stock. in a research report on Tuesday, January 30th. The Goldman Sachs Group raised their price objective on IDEXX Laboratories from $500.00 to $650.00 and gave the company a buy rating in a research note on Wednesday, January 17th. William Blair reissued an outperform rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Finally, StockNews.com downgraded IDEXX Laboratories from a buy rating to a hold rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $580.88.

IDEXX Laboratories Trading Up 1.0 %

IDXX traded up $4.78 during trading hours on Friday, reaching $480.60. 547,954 shares of the company’s stock traded hands, compared to its average volume of 509,434. The company has a quick ratio of 1.17, a current ratio of 1.57 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average price of $525.21 and a 200 day moving average price of $512.07. IDEXX Laboratories has a 52-week low of $372.50 and a 52-week high of $583.39. The firm 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 earnings results on Monday, February 5th. The company reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.20. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. The firm had revenue of $901.60 million during the quarter, compared to analyst estimates of $891.88 million. During the same period in the previous year, the firm earned $2.05 earnings per share. The business’s revenue was up 8.8% on a year-over-year basis. As a group, sell-side analysts predict that IDEXX Laboratories will post 11.06 EPS for the current fiscal year.

Insider Activity

In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 79,247 shares in the company, valued at approximately $45,377,624.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other IDEXX Laboratories news, SVP George Fennell sold 8,198 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the completion of the sale, the senior vice president now owns 6,712 shares in the company, valued at $3,851,815.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of IDEXX Laboratories stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total value of $6,871,320.00. Following the completion of the transaction, the chief executive officer now owns 79,247 shares in the company, valued at $45,377,624.67. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,524 shares of company stock valued at $24,871,960. Corporate 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.