William Blair Has Optimistic Outlook of IDXX FY2024 Earnings

IDEXX Laboratories, Inc. (NASDAQ:IDXX) – Equities research analysts at William Blair lifted their FY2024 earnings per share estimates for IDEXX Laboratories in a research note issued to investors on Monday, February 3rd. William Blair analyst R. Daniels now forecasts that the company will post earnings of $10.67 per share 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.

Other research analysts also recently issued research reports about the company. Bank of America upped their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a report on Tuesday. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday. Morgan Stanley dropped their target price on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Leerink Partners began coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price target for the company. Finally, Stifel Nicolaus dropped their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Thursday, October 10th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $524.38.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $468.55 on Wednesday. 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 twelve month low of $398.50 and a twelve month high of $583.39. The stock has a market cap 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. The firm’s fifty day simple moving average is $425.88 and its 200 day simple moving average is $453.51.

Institutional Trading of IDEXX Laboratories

A number of institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC grew its position in IDEXX Laboratories by 52,746.0% in the 3rd quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock worth $2,669,890,000 after purchasing an additional 527,460 shares during the period. Flossbach Von Storch SE grew its holdings in shares of IDEXX Laboratories by 5,439.3% in the fourth quarter. Flossbach Von Storch SE now owns 473,336 shares of the company’s stock worth $195,696,000 after acquiring an additional 464,791 shares during the period. Assenagon Asset Management S.A. increased its position in IDEXX Laboratories by 265.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company’s stock valued at $179,867,000 after acquiring an additional 316,048 shares during the last quarter. Seilern Investment Management Ltd bought a new position in IDEXX Laboratories in the fourth quarter valued at about $113,104,000. Finally, Vontobel Holding Ltd. boosted its position in IDEXX Laboratories by 3,325.0% in the third quarter. Vontobel Holding Ltd. now owns 220,159 shares of the company’s stock worth $111,229,000 after purchasing an additional 213,731 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

Insiders Place Their Bets

In related news, Director Sophie V. Vandebroek sold 344 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 905 shares in the company, valued at $380,498.20. The trade was a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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.