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IDEXX Laboratories, Inc. (IDXX), valued at a market cap of almost $35 billion, develops, manufactures, and distributes products mainly for the companion animal veterinary, livestock and poultry, dairy, and water testing markets. The Westbrook, Maine-based company also sells a series of portable electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market. It is expected to announce its fiscal Q4 earnings results before the market opens on Monday, Feb. 3.
Ahead of this event, analysts project the pet healthcare company to report a profit of $2.40 per share, up 3.5% from $2.32 per share in the year-ago quarter. The company has surpassed Wall Street's bottom-line estimates in three of the last four quarters while missing on one another occasion.
For fiscal 2024, analysts expect IDXX to report an EPS of $10.44, up 3.8% from $10.06 in fiscal 2023. Moreover, EPS is expected to increase 15.1% year-over-year to $12.01 in fiscal 2025.
Shares of IDXX have declined 20.5% over the past year, significantly underperforming both the S&P 500 Index's ($SPX) 24.2% rise and the Health Care Select Sector SPDR Fund (XLV) marginal return over the same period.
Analysts' consensus view on IDEXX Laboratories’ stock is moderately optimistic, with a "Moderate Buy" rating overall. Among 11 analysts covering the stock, six recommend a "Strong Buy," one suggests a "Moderate Buy," and four indicate a “Hold.” This configuration is more bullish than two months ago, with five analysts suggesting a "Strong Buy."
The average analyst price target for IDXX is $494.60, indicating a 14.4% potential upside from the current levels.
