William Blair Has Bullish Estimate for IDXX FY2024 Earnings

IDEXX Laboratories, Inc. (NASDAQ:IDXX) – Stock analysts at William Blair raised their FY2024 EPS estimates for shares of IDEXX Laboratories in a research report issued on Monday, February 3rd. William Blair analyst R. Daniels now expects that the company will post earnings per share of $10.67 for the year, up from their previous estimate of $10.38. The consensus estimate for IDEXX Laboratories’ current full-year earnings is $10.45 per share. William Blair also issued estimates for IDEXX Laboratories’ Q4 2024 earnings at $2.62 EPS, Q2 2025 earnings at $3.13 EPS, Q1 2026 earnings at $3.32 EPS, Q2 2026 earnings at $3.44 EPS, Q3 2026 earnings at $3.44 EPS, Q4 2026 earnings at $3.34 EPS and FY2026 earnings at $13.54 EPS.

Several other brokerages have also issued reports on IDXX. Bank of America raised their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research report on Tuesday. JPMorgan Chase & Co. decreased their price objective on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Leerink Partners initiated coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They issued an “outperform” rating and a $500.00 target price on the stock. Stifel Nicolaus decreased their price target on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Thursday, October 10th. Finally, Barclays upped their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, IDEXX Laboratories presently has an average rating of “Moderate Buy” and an average target price of $524.38.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock opened at $468.55 on Wednesday. The business’s fifty day simple moving average is $425.88 and its 200 day simple moving average is $453.51. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. IDEXX Laboratories has a 12 month low of $398.50 and a 12 month high of $583.39. The firm has a market capitalization of $38.37 billion, a P/E ratio of 45.18, a price-to-earnings-growth ratio of 3.64 and a beta of 1.37.

Hedge Funds Weigh In On IDEXX Laboratories

Institutional investors and hedge funds have recently made changes to their positions in the business. FSA Wealth Management LLC purchased a new stake in IDEXX Laboratories during the third quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in IDEXX Laboratories by 5,700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after acquiring an additional 57 shares during the period. Retirement Wealth Solutions LLC bought a new position in IDEXX Laboratories during the 4th quarter worth approximately $31,000. Mowery & Schoenfeld Wealth Management LLC grew its position in IDEXX Laboratories by 750.0% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after acquiring an additional 60 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in IDEXX Laboratories in the 3rd quarter worth approximately $37,000. Institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the transaction, the director now directly owns 905 shares of the company’s stock, valued at approximately $380,498.20. This trade represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.11% of the stock is currently owned by company insiders.

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.