FY2024 Earnings Estimate for IDXX Issued By Leerink Partnrs

IDEXX Laboratories, Inc. (NASDAQ:IDXX) – Stock analysts at Leerink Partnrs issued their FY2024 earnings estimates for shares of IDEXX Laboratories in a research note issued to investors on Monday, December 2nd. Leerink Partnrs analyst D. Clark expects that the company will earn $10.52 per share 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.

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

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. cut their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Barclays cut their target price on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Stifel Nicolaus lowered their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Thursday, October 10th. Leerink Partners began coverage on IDEXX Laboratories in a research report on Monday. They issued an “outperform” rating and a $500.00 price objective on the stock. Finally, Piper Sandler reissued a “neutral” rating and set a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $546.56.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $427.49 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. IDEXX Laboratories has a fifty-two week low of $398.50 and a fifty-two week high of $583.39. The firm has a market cap 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 business has a 50 day moving average price of $445.99 and a 200-day moving average price of $475.13.

Insiders Place Their Bets

In other news, Director Sophie V. Vandebroek sold 344 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total value of $144,631.36. Following the sale, the director now directly owns 905 shares of the company’s stock, valued at $380,498.20. The trade was a 27.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.11% of the company’s stock.

Institutional Trading of IDEXX Laboratories

A number of hedge funds have recently made changes to their positions in IDXX. FSA Wealth Management LLC purchased a new stake in shares of IDEXX Laboratories during the third quarter valued at approximately $25,000. Ridgewood Investments LLC purchased a new stake in shares of IDEXX Laboratories during the second quarter valued at approximately $27,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of IDEXX Laboratories by 5,700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after buying an additional 57 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC grew its holdings in shares of IDEXX Laboratories by 750.0% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock valued at $34,000 after buying an additional 60 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of IDEXX Laboratories during the third quarter valued at approximately $37,000. 87.84% of the stock is owned by institutional investors.

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.