Brokers Set Expectations for IDXX FY2024 Earnings

IDEXX Laboratories, Inc. (NASDAQ:IDXX) – Leerink Partnrs issued their FY2024 EPS estimates for IDEXX Laboratories in a research note issued on Monday, December 2nd. Leerink Partnrs analyst D. Clark forecasts that the company will post earnings per share of $10.52 for the year. Leerink Partnrs currently has a “Strong-Buy” rating on the stock. The consensus estimate for IDEXX Laboratories’ current full-year earnings is $10.43 per share. Leerink Partnrs also issued estimates for IDEXX Laboratories’ Q4 2024 earnings at $2.47 EPS, Q1 2025 earnings at $3.10 EPS, Q2 2025 earnings at $3.24 EPS, Q3 2025 earnings at $3.11 EPS, Q4 2025 earnings at $2.80 EPS, FY2025 earnings at $12.25 EPS, FY2026 earnings at $13.82 EPS, FY2027 earnings at $15.30 EPS and FY2028 earnings at $16.93 EPS.

IDXX has been the topic of several other research reports. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Piper Sandler reaffirmed a “neutral” rating and set a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Leerink Partners assumed coverage on IDEXX Laboratories in a research note on Monday. They issued an “outperform” rating and a $500.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Finally, Stifel Nicolaus lowered their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Thursday, October 10th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $546.56.

IDEXX Laboratories Stock Down 1.6 %

Shares of IDXX opened at $427.49 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. IDEXX Laboratories has a 52-week low of $398.50 and a 52-week high of $583.39. The company has a market capitalization of $35.01 billion, a PE ratio of 41.22, a price-to-earnings-growth ratio of 3.95 and a beta of 1.37. The stock has a fifty day simple moving average of $445.99 and a two-hundred day simple moving average of $475.13.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Thursday, October 31st. The company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.69 by $0.11. The business had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.53 EPS.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IDXX. FSA Wealth Management LLC purchased a new stake in IDEXX Laboratories in the 3rd quarter worth approximately $25,000. Ridgewood Investments LLC purchased a new stake in IDEXX Laboratories in the 2nd quarter worth approximately $27,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in IDEXX Laboratories by 5,700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after purchasing an additional 57 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC lifted its stake in IDEXX Laboratories by 750.0% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after purchasing an additional 60 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in IDEXX Laboratories in the 2nd quarter worth approximately $36,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the sale, the director now directly owns 905 shares of the company’s stock, valued at approximately $380,498.20. The trade was a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.11% 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.