IDEXX Laboratories (NASDAQ:IDXX) Releases FY24 Earnings Guidance

IDEXX Laboratories (NASDAQ:IDXX) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $10.82-$11.20 for the period, compared to the consensus EPS 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.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $476.00 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.57 and a quick ratio of 1.17. The company’s 50-day moving average is $528.85 and its 200 day moving average is $512.64. The stock has a market capitalization of $39.53 billion, a P/E ratio of 48.93, a P/E/G ratio of 3.90 and a beta of 1.26. IDEXX Laboratories has a 1 year low of $372.50 and a 1 year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Monday, February 5th. The company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.12 by $0.20. The company had revenue of $901.60 million during the quarter, compared to analyst estimates of $891.88 million. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. IDEXX Laboratories’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.05 earnings per share. On average, sell-side analysts expect that IDEXX Laboratories will post 11.13 earnings per share for the current year.

Analyst Ratings Changes

IDXX has been the subject of a number of recent research reports. Piper Sandler downgraded shares of IDEXX Laboratories from an overweight rating to a neutral rating and set a $525.00 price objective for the company. in a research report on Tuesday, January 30th. JPMorgan Chase & Co. upped their target price on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the stock an overweight rating in a research report on Tuesday, February 6th. Barclays boosted their price target on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the stock an overweight rating in a research note on Tuesday, February 6th. The Goldman Sachs Group increased their price objective on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a buy rating in a report on Wednesday, January 17th. Finally, William Blair reaffirmed an outperform rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $591.50.

Insider Activity

In other news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the company’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 of the company’s stock, valued at $45,377,624.67. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total value of $6,871,320.00. Following the transaction, the chief executive officer now directly owns 79,247 shares of the company’s stock, valued at approximately $45,377,624.67. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Brian P. Mckeon sold 23,326 shares of IDEXX Laboratories stock in a transaction dated 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 sale, the chief financial officer now directly owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,524 shares of company stock worth $24,871,960. Corporate insiders own 2.18% of the company’s stock.

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.