IDEXX Laboratories (NASDAQ:IDXX) Issues Quarterly Earnings Results, Beats Expectations By $0.23 EPS

IDEXX Laboratories (NASDAQ:IDXX) posted its quarterly earnings results on Monday. The company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.73 by $0.23, FiscalAI reports. IDEXX Laboratories had a net margin of 25.03% and a return on equity of 71.96%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX opened at $551.21 on Monday. IDEXX Laboratories has a 52-week low of $500.61 and a 52-week high of $769.98. The stock has a market capitalization of $43.42 billion, a P/E ratio of 38.76 and a beta of 1.55. The company has a quick ratio of 0.87, a current ratio of 1.17 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average price is $534.27 and its two-hundred day moving average price is $574.09.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, Director Lawrence D. Kingsley sold 2,203 shares of IDEXX Laboratories stock in a transaction on Friday, September 4th. The stock was sold at an average price of $532.08, for a total transaction of $1,172,172.24. Following the sale, the director owned 9,568 shares of the company’s stock, valued at $5,090,941.44. The trade was a 18.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

IDXX has been the subject of several recent analyst reports. KeyCorp assumed coverage on shares of IDEXX Laboratories in a report on Monday, October 12th. They set a “sector weight” rating for the company. Jefferies Financial Group cut their target price on shares of IDEXX Laboratories from $795.00 to $705.00 and set a “buy” rating on the stock in a research note on Tuesday, October 20th. Leerink Partners reduced their price target on shares of IDEXX Laboratories from $725.00 to $715.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. BTIG Research dropped coverage on IDEXX Laboratories in a research note on Friday. They issued a “buy” rating for the company. Finally, Citigroup boosted their price objective on IDEXX Laboratories from $650.00 to $670.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $721.67.

About IDEXX Laboratories

IDEXX Laboratories, Inc (NASDAQ: IDXX) develops and provides diagnostic, information technology, and related products and services for the animal health and water testing markets. The company primarily serves veterinary practices, helping them diagnose and monitor diseases through laboratory tests, in-clinic analyzers, software, and digital practice-management solutions.

IDEXX’s companion animal offerings include hematology, chemistry, urinalysis, immunodiagnostics, and imaging-related products, along with reference laboratory services and veterinary software.