Ultime notizie per IDEXX Laboratories (NASDAQ:IDXX) Azioni

IDEXX Laboratories

Idexx Laboratories primarily develops, manufactures, and distributes diagnostic products, equipment, and services for pets and livestock. Its key product lines include single-use canine and feline test kits that veterinarians can employ in the office, benchtop chemistry and hematology analyzers for test-panel analysis on-site, reference lab services, and tests to detect and manage disease in livestock. The firm also offers vet practice management software and consulting services to animal hospitals. Idexx gets close to 35% of its revenue from outside the United States.

IDEXX Laboratories Inc

IDEXX LABORATORIES ORD

Ratings for IDEXX Laboratories (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDXX#NASDAQ">IDXX</a>) were provided by 4 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated IDEXX Laboratories and provided 12-month price targets. The average target is $543.75, accompanied by a high estimate of $580.00 and a low estimate of $500.00. Observing a downward trend, the current average is 6.25% lower than the prior average price target of $580.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1728658809_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
A comprehensive examination of how financial experts perceive IDEXX Laboratories is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Chris Schott</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$575.00</td>
<td>$630.00</td>
</tr>
<tr>
<td>Jonathan Block</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Hold</td>
<td>$500.00</td>
<td>$510.00</td>
</tr>
<tr>
<td>David Westenberg</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$520.00</td>
<td>$600.00</td>
</tr>
<tr>
<td>Mark Massaro</td>
<td>BTIG</td>
<td>Announces</td>
<td>Buy</td>
<td>$580.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to IDEXX Laboratories. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of IDEXX Laboratories compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of IDEXX Laboratories's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
For valuable insights into IDEXX Laboratories's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/IDXX/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on IDEXX Laboratories analyst ratings.</a>
<h2>Delving into IDEXX Laboratories's Background</h2>
Idexx Laboratories primarily develops, manufactures, and distributes diagnostic products, equipment, and services for pets and livestock. Its key product lines include single-use canine and feline test kits that veterinarians can employ in the office, benchtop chemistry and hematology analyzers for test-panel analysis on-site, reference lab services, and tests to detect and manage disease in livestock. The firm also offers vet practice management software and consulting services to animal hospitals. Idexx gets close to 35% of its revenue from outside the United States.
<h3>Breaking Down IDEXX Laboratories's Financial Performance</h3>
Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: IDEXX Laboratories's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 6.35%. This indicates a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Health Care sector.
Net Margin: IDEXX Laboratories's net margin excels beyond industry benchmarks, reaching 20.26%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): IDEXX Laboratories's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 12.91%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): IDEXX Laboratories's ROA excels beyond industry benchmarks, reaching 6.01%. This signifies efficient management of assets and strong financial health.
Debt Management: IDEXX Laboratories's debt-to-equity ratio is below the industry average at 0.68, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

IDXX

What Analysts Are Saying About IDEXX Laboratories Stock

JP Morgan analyst Chris Schott maintains IDEXX Laboratories (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDXX#NASDAQ">IDXX</a>) with a Overweight and lowers the price target from $630 to $575.

News

Price Target

JP Morgan Maintains Overweight on IDEXX Laboratories, Lowers Price Target to $575

IDEXX Laboratories (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDXX#NASDAQ">IDXX</a>) has outperformed the market over the past 20 years by 3.56% on an annualized basis producing an average annual return of 12.15%. Currently, IDEXX Laboratories has a market capitalization of $38.56 billion. 
Buying $100 In IDXX: If an investor had bought $100 of IDXX stock 20 years ago, it would be worth $979.31 today based on a price of $468.45 for IDXX at the time of writing.
<h3>IDEXX Laboratories's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728581432_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

$100 Invested In This Stock 20 Years Ago Would Be Worth $1,000 Today

Stifel analyst Jonathan Block maintains IDEXX Laboratories (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDXX#NASDAQ">IDXX</a>) with a Hold and lowers the price target from $510 to $500.

Stifel Maintains Hold on IDEXX Laboratories, Lowers Price Target to $500

IDEXX Laboratories (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDXX#NASDAQ">IDXX</a>) has outperformed the market over the past 10 years by 12.36% on an annualized basis producing an average annual return of 23.75%. Currently, IDEXX Laboratories has a market capitalization of $42.12 billion. 
Buying $100 In IDXX: If an investor had bought $100 of IDXX stock 10 years ago, it would be worth $846.20 today based on a price of $511.78 for IDXX at the time of writing.
<h3>IDEXX Laboratories's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727470822_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning IDEXX Laboratories Stock In The Last 10 Years

IDEXX Laboratories (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDXX#NASDAQ">IDXX</a>) has outperformed the market over the past 15 years by 9.87% on an annualized basis producing an average annual return of 21.29%. Currently, IDEXX Laboratories has a market capitalization of $39.51 billion. 
Buying $100 In IDXX: If an investor had bought $100 of IDXX stock 15 years ago, it would be worth $1,845.02 today based on a price of $479.99 for IDXX at the time of writing.
<h3>IDEXX Laboratories's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725985814_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning IDEXX Laboratories Stock In The Last 15 Years

A substantial insider sell was reported on September 9, by M. Anne Szostak, Director at IDEXX Laboratories (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDXX#NASDAQ">IDXX</a>), based on the recent SEC filing.
What Happened: After conducting a thorough analysis, Szostak sold 500 shares of IDEXX Laboratories. This information was disclosed in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000874716/000087471624000131//Archives/edgar/data/874716/000087471624000131/0000874716-24-000131-index.htm">U.S. Securities and Exchange Commission</a> on Monday. The total transaction value is $234,686.
During Tuesday's morning session, IDEXX Laboratories shares up by 2.4%, currently priced at $491.85.
<h3>All You Need to Know About IDEXX Laboratories</h3>
Idexx Laboratories primarily develops, manufactures, and distributes diagnostic products, equipment, and services for pets and livestock. Its key product lines include single-use canine and feline test kits that veterinarians can employ in the office, benchtop chemistry and hematology analyzers for test-panel analysis on-site, reference lab services, and tests to detect and manage disease in livestock. The firm also offers vet practice management software and consulting services to animal hospitals. Idexx gets close to 35% of its revenue from outside the United States.
<h3>A Deep Dive into IDEXX Laboratories's Financials</h3>
Revenue Growth: IDEXX Laboratories's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 6.35%. This signifies a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Health Care sector.
Exploring Profitability:
<ul>
<li>
Gross Margin: The company maintains a high gross margin of 61.7%, indicating strong cost management and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): IDEXX Laboratories's EPS is notably higher than the industry average. The company achieved a positive bottom-line trend with a current EPS of 2.46.
</li>
</ul>
Debt Management: IDEXX Laboratories's debt-to-equity ratio is notably higher than the industry average. With a ratio of 0.68, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
Valuation Overview:
<ul>
<li>
Price to Earnings (P/E) Ratio: The Price to Earnings ratio of 47.7 is lower than the industry average, indicating potential undervaluation for the stock.
</li>
<li>
Price to Sales (P/S) Ratio: A higher-than-average P/S ratio of 10.65 suggests overvaluation in the eyes of investors, considering sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): Indicated by a lower-than-industry-average EV/EBITDA ratio of 33.07, the company suggests a potential undervaluation, which might be advantageous for value-focused investors.
</li>
</ul>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
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<h3>Understanding the Significance of Insider Transactions</h3>
Insider transactions should be considered alongside other factors when making investment decisions, as they can offer important insights.
From a legal standpoint, the term "insider" pertains to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities as outlined in Section 12 of the Securities Exchange Act of 1934. This encompasses executives in the c-suite and significant hedge funds. These insiders are mandated to inform the public of their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
A company insider's new purchase is a indicator of their positive anticipation for a rise in the stock.
While insider sells may not necessarily reflect a bearish view and can be motivated by various factors.
<h3>Breaking Down the Significance of Transaction Codes</h3>
When it comes to transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> tend to focus on those in the open market, detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S indicates a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000874716">Check Out The Full List Of IDEXX Laboratories's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Massive Insider Trade At IDEXX Laboratories

IDEXX Laboratories (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDXX#NASDAQ">IDXX</a>) has outperformed the market over the past 20 years by 3.88% on an annualized basis producing an average annual return of 12.27%. Currently, IDEXX Laboratories has a market capitalization of $40.68 billion. 
Buying $100 In IDXX: If an investor had bought $100 of IDXX stock 20 years ago, it would be worth $987.53 today based on a price of $494.28 for IDXX at the time of writing.
<h3>IDEXX Laboratories's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724083215_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In IDEXX Laboratories 20 Years Ago Would Be Worth This Much Today

IDEXX Laboratories (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDXX#NASDAQ">IDXX</a>) has outperformed the market over the past 10 years by 12.43% on an annualized basis producing an average annual return of 23.19%. Currently, IDEXX Laboratories has a market capitalization of $40.53 billion. 
Buying $100 In IDXX: If an investor had bought $100 of IDXX stock 10 years ago, it would be worth $788.94 today based on a price of $492.45 for IDXX at the time of writing.
<h3>IDEXX Laboratories's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1723827770_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In This Stock 10 Years Ago Would Be Worth $800 Today

Piper Sandler analyst David Westenberg maintains IDEXX Laboratories (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDXX#NASDAQ">IDXX</a>) with a Neutral and lowers the price target from $600 to $520.

Piper Sandler Maintains Neutral on IDEXX Laboratories, Lowers Price Target to $520

IDEXX Laboratories, Inc.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/idxx#NASDAQ">IDXX</a>) posted second-quarter 2024 earnings per share of $2.44, down 8.6% year over year. The figure missed the Zacks Consensus Estimate by 14.9%.
Comparable constant-currency EPS of $3.02 improved 14.8% year over year.
<h3>Revenues in Detail</h3>
Quarterly revenues increased 6.4% year over year (up 7% organically) to $1.00 billion. The reported figure was in line with the Zacks Consensus Estimate.
The year-over-year upside was primarily driven by a strong improvement in Companion Animal Group (&quot;CAG&quot;) revenues.
Veterinary software, services and diagnostic imaging systems&#39; revenues increased 12% on a reported basis and 8% organically, reflecting high recurring revenue growth and continued momentum in cloud-based software placements.
<h3>Segmental Analysis</h3>
IDEXX derives revenues from four operating segments &mdash;&nbsp;CAG,&nbsp;Water,&nbsp;Livestock,&nbsp;Poultry and Dairy&nbsp;(&quot;LPD&quot;), and&nbsp;Other.
CAG revenues rose 6% year over year on a reported basis and 7% on an organic basis to $922.3 million.
CAG Diagnostics&#39; recurring revenues, too, increased 6% on a reported basis and 7% organically, supported by strong growth in international regions and sustained benefits of IDEXX execution drivers.
The Water segment&#39;s revenues increased 9% year over year on a reported basis and 10% organically to $46.7 million.
For the second quarter, LPD revenues increased 1% on a reported and 3% on an organic basis to $30.3 million.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Revenues from the Other segment rose 5.3% on a reported basis to $4.2 million.
<h3>Margins</h3>
The gross profit rose 8.1% to $619.2 million. The gross margin expanded 99 basis points (bps) to 61.7% despite a 3.7% rise in the cost of revenues.
Sales and marketing expenses rose 1.5% to $142.7 million. G&amp;A expenses surged 75.4% to $157.2 million.&nbsp; R&amp;D expenses rose 19.2% to $55.5 million. As a result of these, the operating profit in the reported quarter declined 10.9% year over year to $263.8 million. The operating margin in the quarter contracted 510 bps to 26.3%.
<h3>Financial Position</h3>
IDEXX exited the second quarter with cash and cash equivalents of $401.6 million compared with $397.4 million at the end of the first quarter of 2024. Total debt (including the current portion) was $694.9 million compared with $695.8 million at the end of the first quarter of 2024.
The cumulative net cash provided by operating activities was $446.9 million compared with $384.2 million in the prior-year comparable period.
<h3>2024 Guidance</h3>
IDEXX provided an updated outlook for 2024.
The company expects total revenues to be in the range of $3,885-$3,945 million (down from the previous guidance of $3,895-$3,965 million). This suggests growth of 6.2-7.8% (earlier 6.5-8.5%) on a reported basis and 6.2-7.8% (earlier 7-9%) on an organic basis. The Zacks Consensus Estimate is currently pegged at $3.93 billion.
<div class="chart_embed">
<h3>IDEXX Laboratories, Inc. Price, Consensus and EPS Surprise</h3>
<img alt="IDEXX Laboratories, Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/11/1722950838.png" style="height:265px; width:590px" title="" />
IDEXX Laboratories, Inc. price-consensus-eps-surprise-chart | IDEXX Laboratories, Inc. Quote
</div>
IDEXX expects full-year EPS to be in the range of $10.31-$10.59 (down from the previous guidance of $10.82-$11.20). This updated guidance indicates reported growth of 2-5% (earlier 8%-11%). The Zacks Consensus Estimate for full-year EPS is currently pegged at $11.00.
<h3>Our Take</h3>
IDEXX&#39;s earnings missed the Zacks Consensus Estimate, while revenues were in line with the same. The performance reflected continued high customer demand in adopting the company&#39;s innovative, multi-modality testing platforms and solutions. The expansion of the gross margin in the quarter is highly promising.
The company achieved strong global growth across all its testing modalities, including IDEXX VetLab consumables, Reference laboratory diagnostic and consulting services and Rapid assay products. &nbsp;
Meanwhile, solid LPD gains in the United States and Europe were offset by lower Asia Pacific revenues, including the effects of reduced swine testing and herd health screening levels. Escalating expenses are leading to severe operating margin contraction for IDXX. The reduced financial outlook for the full year is discouraging.&nbsp;
<h3>Zacks Rank and Key Picks</h3>
IDEXX currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks from the broader medical space are Intuitive Surgical (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/isrg#NASDAQ">ISRG</a>), Abbott Laboratories, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/abt#NYSE">ABT</a>) and Quest Diagnostics&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dgx#NYSE">DGX</a>).
Intuitive Surgical reported a second-quarter 2024 adjusted EPS of $1.78, which beat the Zacks Consensus Estimate by 16.3%. Revenues of $2.01 billion topped the consensus estimate by 2%. ISRG currently sports a Zacks Rank #1 (Strong Buy).
Intuitive Surgical has a long-term earnings growth rate of 16.1% for 2024 compared with the industry&#39;s 14.1%. The company&#39;s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 8.97%.
Abbott, carrying a Zacks Rank #2 (Buy) at present, reported second-quarter 2024 earnings of $1.14 per share, which surpassed the Zacks Consensus Estimate by 3.6%. Revenues of $10.38 billion topped the Zacks Consensus Estimate by 0.3%.
ABT has an earnings growth rate of 10.1% for 2025 compared with the S&amp;P 500&#39;s 9.3%. The company beat on earnings in each of the trailing four quarters, the average surprise being 2.34%.
Quest Diagnostics, carrying a Zacks Rank #2 at present, reported a second-quarter adjusted EPS of $2.35, which surpassed the Zacks Consensus Estimate by 1.7%. Revenues of $2.40 billion outpaced the Zacks Consensus Estimate by 0.5%.
DGX has a historical five-year earnings growth rate of 7.4% compared with the industry&#39;s 4.2%. The company&#39;s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 3.31%.
<a href="https://www.zacks.com/stock/news/2317144/idexx-idxx-q2-earnings-miss-estimates-2024-view-down?cid=CS-BENZ-FT-analyst_blog|earnings_article-2317144">To read this article on Zacks.com click here.</a>

Earnings

Earnings Misses

Large Cap

Guidance

Markets

ISRG

IDEXX Q2 Earnings Miss Estimates, 2024 View Down

Tuesday,&nbsp;Idexx Laboratories&nbsp;Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDXX#NASDAQ">IDXX</a>) reported second-quarter adjusted EPS of $3.02, up 15% year-over-year,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/b40182394/idexx-laboratories-announces-second-quarter-results" rel="noreferrer noopener">beating the consensus of $2.88</a>.
The company reported sales of $1 billion, an increase of 6% as reported and 7% organically, almost in line with the <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $1.01 billion</a>.
The revenue growth&nbsp;was driven by Companion Animal Group growth of 6% as reported and 7% organic and Water revenue growth of 9% as reported and 10% organic.
Related: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38563159/aging-pet-population-is-solid-longer-term-tailwind-for-idexx-labs-analyst" rel="noreferrer noopener">Aging Pet Population Is &#8216;Solid Longer-Term Tailwind&#8217; For Idexx Labs: Analyst</a>.
Strong interest in Idexx solutions supported record second-quarter premium instrument placements and 11% annual growth in Idexx&#8217;s global premium instrument installed base.
The gross margin of 61.7% increased by 100 basis points as reported and 90 basis points on a comparable basis, supported by benefits from net price realization offsetting inflationary cost impacts, software service margin gains, and favorable business mix.
Operating margin was 26.3% for the quarter, lower than the prior year by 510 basis points, including ~610 basis point negative impact from $62 million of expense related to a discrete litigation expense accrual.
Guidance: Idexx Laboratories forecasts 2024 revenue of $3.885 billion-$3.945 billion versus prior guidance of $3.895 billion-$3.965 billion and consensus of $3.936 billion
The company expects adjusted 2024 EPS of $10.31- $10.59 compared to prior guidance of $10.82-$11.20 and consensus of $11.06, reflecting impacts from the 56 cents per share discrete litigation expense accrual and consistent expectations for solid comparable operating margin improvement.
William Blair writes, &#8220;In our view, the slower growth this quarter was driven by a decline in vet office visits, a trend that has persisted for several quarters now, despite easing year-over-year comparisons.&#8221;
The analyst adds,&#8221; Our initial thought is that even if trends do not materially improve, Idexx can likely hit the updated outlook range provided today, though to reach the middle and especially the high end of its outlook range.&#8221;
The analyst highlights that Idexx&#8217;s strong performance reaffirms the resilience of the global animal health market and the robustness of the company&#8217;s business model.
Price Action: IDXX stock is up 4.65% at $476.25&nbsp;at last check Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/08/40191263/baxter-lifts-annual-outlook-after-strong-q2-beat-medical-devices-sales" target="_blank" rel="noreferrer noopener">Baxter Lifts Annual Outlook After Strong Q2 Beat, Medical Devices Sales</a></li>
</ul>
Image: Unsplash

Analyst Color

Movers

General

Animal Health Firm Idexx's Robust Business Model Bolsters Position Despite Slower Growth, Says Analyst

WIIM

IDEXX Laboratories shares are trading higher after the company reported better-than-expected Q2 adjusted EPS results.

<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">2024 Growth and Financial Performance Outlook</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">Updated</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">Prior</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Revenue</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">$3,885</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">$3,945</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">$3,895</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">$3,965</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Reported growth</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">6.2%</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">7.8%</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">6.5%</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">8.5%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Organic growth</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">6.2%</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">7.8%</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">7.0%</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">9.0%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">CAG Diagnostics Recurring Revenue Growth</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Reported growth</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">5.7%</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">7.3%</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">6.5%</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">8.5%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Organic growth</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">6.2%</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">7.8%</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">7.5%</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">9.5%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Operating Margin</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">28.7%</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">29.0%</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">30.2%</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">30.7%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Operating margin expansion</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">(130 bps)</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">(100 bps)</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">20 bps</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">70 bps</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Negative impact of ongoing litigation matter</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">~160 bps</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Comparable margin expansion</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">30 bps</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">60 bps</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">20 bps</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">70 bps</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Negative impact of 2023 customer contract resolution payment</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">~ 40 bps</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">~ 40 bps</td>
</tr>
<tr>
<td colspan="1" rowspan="1">EPS</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">$10.31</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">$10.59</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">$10.82</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">$11.20</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Reported growth</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">2%</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">5%</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">8%</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">11%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Negative impact of ongoing litigation matter</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">~ 6%</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Comparable growth</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">9%</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">12%</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">9%</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">13%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Negative impact of 2023 customer contract resolution payment</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">~ 2%</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">~ 2%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Other Key Metrics</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Net interest expense</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">~ $20</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">~ $21</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Share-based compensation tax benefit</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">~ $10</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">~ $10</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Share-based compensation tax rate benefit</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">~ 1%</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">~ 1%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Effective tax rate</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">~ 21.5%</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">~ 22%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Share-based compensation EPS impact</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">~ $0.12</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">~ $0.12</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Reduction in average shares outstanding</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">0.5%</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">1%</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">0.5%</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">1%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Operating Cash Flow (% of Net Income)</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">110% - 115%</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">110% - 115%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Free Cash Flow (% of Net Income)</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">90% - 95%</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">90% - 95%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Capital Expenditures</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">~ $180 million</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">~ $180 million</td>
</tr>
</tbody>
</table>
</figure>

Health Care

IDEXX Laboratories	Expects 2024 Adjusted EPS Of $10.31-$10.59 Versus Prior Guidance Of $10.82-$11.20 And Consensus Of $11.06

IDEXX Laboratories	Expects 2024 Revenue Of $3.885B-$3.945B Versus Prior Guidance Of $3.895B-$3.965B And Consensus Of $3.936B

IDEXX Laboratories Q2 2024 Adj. EPS $3.02 Beats $2.88 Estimate, Sales $1.004B Miss $1.007B Estimate

Medical sector players that have reported second-quarter results so far witnessed strong top and bottom-line improvements on both sequential as well as year-over-year basis, driven by higher demand for medical products and services and favorable pricing strategies. These factors largely offset the burden of increased costs and interest expenses stemming from worldwide geopolitical issues and healthcare labor shortages.
Going by the latest Earnings Preview report,&nbsp; within the Medical sector, 49.2% of the companies, constituting 61% of the sector&#39;s market capitalization, reported earnings till Jul 31. Of these, 82.8% beat on earnings, while 79.2% beat on revenues. The bottom line rose 31% year over year on 5.8% higher revenues.
Overall, second-quarter earnings of the Medical sector are expected to improve 15.7% on 8.1% growth in revenues. This compares with the first-quarter earnings decline of 24% on revenue growth of 6.8%.
Some major industry players like Baxter International (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bax#NYSE">BAX</a>), Henry Schein (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hsic#NASDAQ">HSIC</a>) and IDEXX Laboratories (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/idxx#NASDAQ">IDXX</a>) are set to report their quarterly results tomorrow.
<h3>Factors Driving MedTechs This Earnings Season</h3>
Replicating the broader Medical sector&#39;s trend, MedTech or the Zacks-defined Medical Products companies&#39; collective business growth in the second quarter is likely to have stabilized. The industry has been experiencing rapid adoption of generative Artificial Intelligence (genAI) and digital therapies, which market observers predict will take the healthcare business by storm.
Macro trends that have set the stage for even more innovation and investment in this space are an aging population, growing healthcare awareness and increasing access to better health options. Favorable impacts from these are expected to be seen in the second-quarter results.
However, the industry has been grappling with issues in the form of staffing shortages and a significant surge in medical supply expenses. In addition, medical procedure rates and demand for the company&#39;s products continue to fluctuate as the medical system rebalances its infrastructure and resources in a post-COVID-19 market. These have been putting significant pressure on the margins of medical device companies. Further, the worsening geopolitical environment leading to supply chain bottlenecks has resulted in high freight and raw material costs.
Also, diagnostic testing companies have been witnessing a severe year-over-year decline in testing demand against strong demand in the year-ago period for COVID-19 testing products.
<h3>MedTech Stocks to Watch</h3>
Baxter: Sustained demand and the positive impact of pricing are likely to have aided second-quarter sales of the Medical Products and Therapies segment. Infusion Therapies and Technologies sales are likely to have benefited from the IV Solutions portfolio in the international market, as well as the solid performance of the infusion system portfolio. Moreover, recent FDA approvals for Novum IQ volume infusion pump and Dose IQ Safety Software are likely to have accelerated growth for the segment.
The Zacks Consensus Estimate for Baxter&#39;s second-quarter 2024 revenues is pegged at $3.74 billion, indicating an improvement of 1% from the prior-year quarter&#39;s reported figure. However, the consensus mark for earnings is pinned at 66 cents per share, implying a 20% year-over-year improvement.
During the quarter, the company&#39;s shares declined 23.2% compared with the industry&#39;s 3.3% decline.
Per our proven model, a stock with the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) has a good chance of beating on earnings. However, this is not the case here, as you can see below.
BAX has an Earnings ESP of 0.00% and a Zacks Rank of 4 (Sell) at present.
<div class="chart_embed">
<h3>Baxter International Inc. Price and EPS Surprise</h3>
<img alt="Baxter International Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/8b/1722863162.png" style="height:263px; width:538px" title="" />
Baxter International Inc. price-eps-surprise | Baxter International Inc. Quote
Henry Schein: The company is expected to sustain the strong recovery momentum from last year&#39;s cybersecurity incident, which mainly affected the dental and medical distribution businesses in North America and Europe. There may have been a steady improvement in dental merchandise sales, including in most international markets, aiding overall revenues in the second quarter of 2024. Dental equipment sales are also likely to have increased in North America. In addition, Henry Schein&#39;s THRIVE Signature program may have contributed to overall sales growth, driven by an increase in memberships.
The Zacks Consensus Estimate for HSIC&#39;s second-quarter 2024 revenues is pegged at $3.28 billion. This suggests an increase of 5.9% from the year-ago reported figure. The Zacks Consensus Estimate for its second-quarter 2024 EPS stands at $1.27, which indicates a year-over-year fall of 3.1%.
</div>
During the second quarter, the stock plunged 13.7% compared with the industry&#39;s 5.8% decline.
HSIC has an Earnings ESP of +1.20% and a Zacks Rank #4 at present.
<div class="chart_embed">
<h3>Henry Schein, Inc. Price and EPS Surprise</h3>
<img alt="Henry Schein, Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/f4/1722863267.png" style="height:263px; width:538px" title="" />
Henry Schein, Inc. price-eps-surprise | Henry Schein, Inc. Quote
IDEXX: In the second quarter, IDXX&#39;s Companion Animal Group (&quot;CAG&quot;) Diagnostics recurring revenues are expected to have maintained the trend of robust organic gains, contributing significantly to the company&#39;s overall revenue growth. The growth is likely to have been supported by new business gains, sustained high customer retention rates and net price realization in the United States. The company&#39;s international performance is also likely to have been fueled by strong execution, demonstrated through continued growth in premium instrument placements.
The Zacks Consensus Estimate for revenues is pegged at $1 billion, which suggests an increase of 6.2% from the year-ago reported figure. The Zacks Consensus Estimate for earnings is pegged at $2.87 per share, which implies a 7.5% rise from the year-ago reported figure.
</div>
In the second quarter, shares of the company lost 8.5% compared with the industry&#39;s 1.6% drop.
IDXX has an Earnings ESP of -0.76% and a Zacks Rank #4 at present.
<div class="chart_embed">
<h3>IDEXX Laboratories, Inc. Price and EPS Surprise</h3>
<img alt="IDEXX Laboratories, Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/56/1722863323.png" style="height:263px; width:545px" title="" />
IDEXX Laboratories, Inc. price-eps-surprise | IDEXX Laboratories, Inc. Quote
<a href="https://www.zacks.com/stock/news/2316240/what-s-in-store-for-these-3-medtech-stocks-in-q2-earnings?cid=CS-BENZ-FT-analyst_blog|earnings_preview_esp-2316240">To read this article on Zacks.com click here.</a>
</div>

Biotech

Earnings Beats

HSIC

What's in Store for These 3 MedTech Stocks in Q2 Earnings?

In the latest quarter, 4 analysts provided ratings for IDEXX Laboratories (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDXX#NASDAQ">IDXX</a>), showcasing a mix of bullish and bearish perspectives.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $564.0, a high estimate of $596.00, and a low estimate of $510.00. Observing a downward trend, the current average is 5.74% lower than the prior average price target of $598.33. 
<img src="https://www.benzinga.com/files/images/story/2024/1721941217_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
A comprehensive examination of how financial experts perceive IDEXX Laboratories is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Mark Massaro</td>
<td>BTIG</td>
<td>Announces</td>
<td>Buy</td>
<td>$580.00</td>
<td>-</td>
</tr>
<tr>
<td>Jonathan Block</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Hold</td>
<td>$510.00</td>
<td>$520.00</td>
</tr>
<tr>
<td>Erin Wright</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$596.00</td>
<td>$620.00</td>
</tr>
<tr>
<td>Balaji Prasad</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$570.00</td>
<td>$655.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to IDEXX Laboratories. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of IDEXX Laboratories compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of IDEXX Laboratories's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
For valuable insights into IDEXX Laboratories's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/IDXX/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on IDEXX Laboratories analyst ratings.</a>
<h2>Get to Know IDEXX Laboratories Better</h2>
Idexx Laboratories primarily develops, manufactures, and distributes diagnostic products, equipment, and services for pets and livestock. Its key product lines include single-use canine and feline test kits that veterinarians can employ in the office, benchtop chemistry and hematology analyzers for test-panel analysis on-site, reference lab services, and tests to detect and manage disease in livestock. The firm also offers vet practice management software and consulting services to animal hospitals. Idexx gets close to 35% of its revenue from outside the United States.
<h3>A Deep Dive into IDEXX Laboratories's Financials</h3>
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Revenue Growth: IDEXX Laboratories displayed positive results in 3 months. As of 31 March, 2024, the company achieved a solid revenue growth rate of approximately 7.1%. This indicates a notable increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Health Care sector.
Net Margin: IDEXX Laboratories's net margin is impressive, surpassing industry averages. With a net margin of 24.44%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): IDEXX Laboratories's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 15.43% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): IDEXX Laboratories's ROA excels beyond industry benchmarks, reaching 7.12%. This signifies efficient management of assets and strong financial health.
Debt Management: IDEXX Laboratories's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.68.
<h2>Analyst Ratings: What Are They?</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings For IDEXX Laboratories

BTIG analyst Mark Massaro initiates coverage on IDEXX Laboratories (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDXX#NASDAQ">IDXX</a>) with a Buy rating and announces Price Target of $580.

Initiation

BTIG Initiates Coverage On IDEXX Laboratories with Buy Rating, Announces Price Target of $580

IDEXX Laboratories (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDXX#NASDAQ">IDXX</a>) has outperformed the market over the past 20 years by 3.33% on an annualized basis producing an average annual return of 11.73%. Currently, IDEXX Laboratories has a market capitalization of $38.80 billion. 
Buying $100 In IDXX: If an investor had bought $100 of IDXX stock 20 years ago, it would be worth $939.70 today based on a price of $469.85 for IDXX at the time of writing.
<h3>IDEXX Laboratories's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721331021_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $100 Invested In IDEXX Laboratories 20 Years Ago Would Be Worth Today

In a report released today, David Westenberg from Piper Sandler maintained a Hold rating on Idexx Laboratories (IDXX – Research Report), with a pri...

Idexx Laboratories (IDXX) Gets a Hold from Piper Sandler

Analyst Erin Wright from Morgan Stanley reiterated a Buy rating on Idexx Laboratories (IDXX – Research Report) and keeping the price target at $589...

Buy Rating Affirmed for Idexx Laboratories on Strong Growth and Innovation Prospects

Idexx Laboratories (IDXX – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Mark Massaro ...

Buy Rating for Idexx Laboratories Amid Innovative Cancer Detection Product and Strong Financial Projections

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Idexx Laboratories (IDXX) Receives a Hold from Piper Sandler

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Press Releases

IDEXX Laboratories Announces First Quarter Results

IDEXX Laboratories to Present at Stifel Conference and Announces 2024 Investor Day

IDEXX Expands Test Menu for the Catalyst Platform to Support Veterinarians Globally in Diagnosing Pancreatitis

IDEXX Laboratories to Release 2024 Second Quarter Financial Results

IDEXX Releases 2023 Corporate Responsibility Report, Highlighting Progress Against Its Goals

IDEXX Laboratories Announces Time Change for 2024 Second Quarter Financial Results Conference Call

IDEXX Laboratories Announces Second Quarter Results

IDEXX Laboratories to Present at Morgan Stanley 22nd Annual Global Healthcare Conference

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