IDEXX Laboratories (IDXX) Scheduled to Post Quarterly Earnings on Wednesday

IDEXX Laboratories (NASDAQ:IDXX) is scheduled to be posting its quarterly earnings results before the market opens on Wednesday, May 1st. Analysts expect IDEXX Laboratories to post earnings of $2.68 per share for the quarter. IDEXX Laboratories has set its FY24 guidance at $10.84-11.33 EPS and its FY 2024 guidance at 10.840-11.330 EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.20. The business had revenue of $901.60 million for the quarter, compared to analyst estimates of $891.88 million. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The company’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.05 EPS. On average, analysts expect IDEXX Laboratories to post $11 EPS for the current fiscal year and $13 EPS for the next fiscal year.

IDEXX Laboratories Trading Up 3.0 %

Shares of IDXX stock opened at $493.80 on Wednesday. The firm has a market cap of $41.01 billion, a P/E ratio of 49.04, a PEG ratio of 3.67 and a beta of 1.26. IDEXX Laboratories has a 1-year low of $372.50 and a 1-year high of $583.39. 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 firm’s 50-day simple moving average is $535.07 and its 200-day simple moving average is $510.61.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price target on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Piper Sandler lowered shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target on the stock. in a report on Tuesday, January 30th. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. The Goldman Sachs Group raised their price target 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, Barclays raised their price target on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, IDEXX Laboratories has an average rating of “Moderate Buy” and a consensus price target of $591.50.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, 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 of the company’s stock, valued at $45,377,624.67. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Brian P. Mckeon sold 23,326 shares of IDEXX Laboratories stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the sale, the chief financial officer now directly owns 29,718 shares in the company, valued at $16,939,557.18. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of IDEXX Laboratories stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the sale, 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. 2.11% of the stock is currently owned by corporate insiders.

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.