What is Leerink Partnrs’ Forecast for IDXX FY2024 Earnings?

IDEXX Laboratories, Inc. (NASDAQ:IDXX) – Leerink Partnrs issued their FY2024 earnings per share estimates for IDEXX Laboratories in a research note issued on Monday, December 2nd. Leerink Partnrs analyst D. Clark expects that the company will earn $10.52 per share for the year. Leerink Partnrs 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 released its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. The business had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The business’s revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.53 EPS.

Other equities research analysts have also issued reports about the stock. Stifel Nicolaus reduced their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. JPMorgan Chase & Co. decreased their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Piper Sandler restated a “neutral” rating and set a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Finally, Barclays dropped their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and an average target price of $546.56.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $435.69 on Thursday. IDEXX Laboratories has a 1 year low of $398.50 and a 1 year high of $583.39. The stock has a market capitalization of $35.68 billion, a PE ratio of 42.01, a PEG ratio of 3.95 and a beta of 1.37. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. The stock has a 50-day simple moving average of $445.99 and a 200-day simple moving average of $475.13.

Hedge Funds Weigh In On IDEXX Laboratories

A number of large investors have recently modified their holdings of the business. Oddo BHF Asset Management Sas acquired a new position in shares of IDEXX Laboratories during the 3rd quarter worth $1,128,000. American Trust acquired a new position in IDEXX Laboratories during the third quarter worth about $757,000. Franklin Resources Inc. increased its holdings in IDEXX Laboratories by 2.5% in the third quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock valued at $675,259,000 after buying an additional 34,305 shares in the last quarter. Tidal Investments LLC lifted its position in shares of IDEXX Laboratories by 7.6% during the 3rd quarter. Tidal Investments LLC now owns 6,310 shares of the company’s stock valued at $3,188,000 after acquiring an additional 444 shares during the period. Finally, Sanctuary Advisors LLC boosted its stake in shares of IDEXX Laboratories by 20.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 3,288 shares of the company’s stock worth $1,661,000 after acquiring an additional 558 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at IDEXX Laboratories

In related news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction 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 transaction, the director now directly owns 905 shares in the company, valued at $380,498.20. This trade represents a 27.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.11% of the company’s stock.

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.