Brokers Issue Forecasts for IDEXX Laboratories, Inc.'s Q2 2024 Earnings (NASDAQ:IDXX)

IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) - Investment analysts at William Blair decreased their Q2 2024 EPS estimates for shares of IDEXX Laboratories in a report issued on Wednesday, May 1st. William Blair analyst R. Daniels now anticipates that the company will earn $2.84 per share for the quarter, down from their previous forecast of $2.98. William Blair currently has a "Outperform" rating on the stock. The consensus estimate for IDEXX Laboratories' current full-year earnings is $11.12 per share. William Blair also issued estimates for IDEXX Laboratories' Q3 2024 earnings at $2.69 EPS and FY2024 earnings at $10.96 EPS.

IDXX has been the subject of several other research reports. Piper Sandler lowered shares of IDEXX Laboratories from an "overweight" rating to a "neutral" rating and set a $525.00 price objective for the company. in a research report on Tuesday, January 30th. The Goldman Sachs Group raised their price objective on IDEXX Laboratories from $500.00 to $650.00 and gave the company a "buy" rating in a research report on Wednesday, January 17th. JPMorgan Chase & Co. upped their target price on IDEXX Laboratories from $600.00 to $630.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 6th. StockNews.com downgraded IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Thursday. Finally, Barclays decreased their price target on IDEXX Laboratories from $655.00 to $570.00 and set an "overweight" rating for the company in a report on Thursday. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, IDEXX Laboratories presently has a consensus rating of "Moderate Buy" and a consensus price target of $580.88.

IDEXX Laboratories Trading Up 1.0 %

Shares of NASDAQ:IDXX traded up $4.78 during trading on Friday, reaching $480.60. 547,954 shares of the stock were exchanged, compared to its average volume of 444,576. IDEXX Laboratories has a 12-month low of $372.50 and a 12-month high of $583.39. The firm's 50-day moving average price is $525.21 and its 200 day moving average price is $512.07. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.17 and a current ratio of 1.57. The firm has a market cap of $39.91 billion, a price-to-earnings ratio of 46.52, a price-to-earnings-growth ratio of 3.66 and a beta of 1.27.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings results on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.20. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. The company had revenue of $901.60 million for the quarter, compared to the consensus estimate of $891.88 million. During the same quarter last year, the firm posted $2.05 earnings per share. IDEXX Laboratories's revenue was up 8.8% on a year-over-year basis.

Hedge Funds Weigh In On IDEXX Laboratories

Several institutional investors have recently made changes to their positions in the stock. OFI Invest Asset Management acquired a new stake in shares of IDEXX Laboratories in the 3rd quarter worth about $25,000. Valley National Advisers Inc. raised its holdings in shares of IDEXX Laboratories by 84.6% during the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company's stock valued at $26,000 after buying an additional 22 shares during the last quarter. Riverview Trust Co acquired a new position in shares of IDEXX Laboratories during the first quarter worth approximately $26,000. Geo Capital Gestora de Recursos Ltd bought a new position in IDEXX Laboratories in the 3rd quarter worth approximately $28,000. Finally, Covestor Ltd grew its holdings in IDEXX Laboratories by 71.8% in the 3rd quarter. Covestor Ltd now owns 67 shares of the company's stock worth $29,000 after buying an additional 28 shares in the last quarter. 87.84% of the stock is owned by institutional investors.

Insider Activity

In other IDEXX Laboratories news, SVP George Fennell sold 8,198 shares of the company's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the sale, the senior vice president now owns 6,712 shares in the company, valued at $3,851,815.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other IDEXX Laboratories news, SVP George Fennell sold 8,198 shares of the business's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the completion of the sale, the senior vice president now owns 6,712 shares in the company, valued at $3,851,815.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the stock in a transaction on Wednesday, February 7th. The stock was 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 directly owns 79,247 shares in the company, valued at $45,377,624.67. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,524 shares of company stock worth $24,871,960. 2.11% of the stock is currently owned by corporate 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.