Q2 2024 Earnings Forecast for IDEXX Laboratories, Inc. Issued By William Blair (NASDAQ:IDXX)

IDEXX Laboratories, Inc. (NASDAQ:IDXX) – Equities research analysts at William Blair dropped their Q2 2024 earnings estimates for IDEXX Laboratories in a research report issued on Wednesday, May 1st. William Blair analyst R. Daniels now anticipates that the company will post earnings per share of $2.84 for the quarter, down from their previous estimate of $2.98. William Blair has a “Outperform” rating on the stock. The consensus estimate for IDEXX Laboratories’ current full-year earnings is $11.06 per share. William Blair also issued estimates for IDEXX Laboratories’ Q3 2024 earnings at $2.69 EPS and FY2024 earnings at $10.96 EPS.

Several other brokerages have also issued reports on IDXX. JPMorgan Chase & Co. boosted their price objective 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 downgraded shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target on the stock. in a research note on Tuesday, January 30th. The Goldman Sachs Group upped their price objective on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. StockNews.com downgraded shares of 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 on the stock in a research note on Thursday. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $580.88.

IDEXX Laboratories Price Performance

NASDAQ:IDXX opened at $480.60 on Friday. IDEXX Laboratories has a 52 week low of $372.50 and a 52 week high of $583.39. The stock’s fifty day moving average is $523.29 and its two-hundred day moving average is $512.43. The company has a market capitalization of $39.69 billion, a P/E ratio of 46.52, a P/E/G ratio of 3.74 and a beta of 1.27. The company has a quick ratio of 1.17, a current ratio of 1.57 and a debt-to-equity ratio of 0.40.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Monday, February 5th. The company reported $2.32 earnings per share (EPS) 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 business had revenue of $901.60 million during the quarter, compared to the consensus estimate of $891.88 million. During the same quarter last year, the firm earned $2.05 EPS. The business’s revenue was up 8.8% compared to the same quarter last year.

Insider Buying and Selling at IDEXX Laboratories

In other news, CFO Brian P. Mckeon sold 23,326 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was 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 owns 29,718 shares of the company’s stock, valued at $16,939,557.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Brian P. Mckeon sold 23,326 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the completion of the transaction, the chief financial officer now directly owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total value of $6,871,320.00. Following the sale, the chief executive officer now owns 79,247 shares in the company, valued at approximately $45,377,624.67. The disclosure for this sale can be found here. Insiders sold 43,524 shares of company stock valued at $24,871,960 in the last 90 days. Company insiders own 2.11% of the company’s stock.

Institutional Trading of IDEXX Laboratories

Several hedge funds have recently added to or reduced their stakes in IDXX. Cambridge Investment Research Advisors Inc. grew its stake in shares of IDEXX Laboratories by 4.1% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 7,650 shares of the company’s stock worth $3,345,000 after purchasing an additional 302 shares in the last quarter. Raymond James & Associates boosted its position in shares of IDEXX Laboratories by 32.7% during the 3rd quarter. Raymond James & Associates now owns 97,994 shares of the company’s stock worth $42,850,000 after acquiring an additional 24,147 shares in the last quarter. Simon Quick Advisors LLC increased its holdings in shares of IDEXX Laboratories by 25.0% in the 3rd quarter. Simon Quick Advisors LLC now owns 704 shares of the company’s stock valued at $308,000 after acquiring an additional 141 shares during the last quarter. Legacy Financial Group LLC acquired a new stake in shares of IDEXX Laboratories during the 3rd quarter worth about $125,000. Finally, NorthRock Partners LLC purchased a new stake in IDEXX Laboratories during the third quarter worth approximately $230,000. Institutional investors and hedge funds own 87.84% 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.