IDEXX Laboratories Inc. ($IDXX) Stock Forecast: Down 9.5% Today

What is IDEXX Laboratories Inc.?

A company listed on NASDAQ, specializing in veterinary diagnostic products and services, is IDEXX Laboratories Inc. (NASDAQ: IDXX). Their offerings span analyzers, reagents, consumables, software, and services tailored for veterinary practices.

Why is IDEXX Laboratories Inc. going down?

IDXX stock is down 9.5% on Oct 31, 2024 17:06

• Third-quarter earnings of IDXX surpassed adjusted EPS predictions but fell short of revenue consensus, hinting at possible hurdles in revenue expansion.
• The deceleration in revenue growth is possibly linked to a decline in veterinary visits, influencing the company's sales trajectory.
• Noteworthy growth in segments such as CAG and Water was eclipsed by the lower-than-expected revenue, possibly instigating a downward trend in the stock's value.
• Concerns among investors about IDXX's future growth sustainability are palpable, with guidance adjustments contributing to the stock's market decline.

IDXX Price Chart

IDXX Technical Analysis

IDXX News

Idexx Laboratories Adjusts Guidance As Q3 Revenue Growth Slows, Analyst Notes Fewer Veterinary Visits, Looks Towards Long-Term Growth - IDEXX Laboratories ( NASDAQ:IDXX )

Idexx Laboratories Inc IDXX reported third-quarter adjusted EPS of $2.79, up 12% year-over-year, beating the consensus of $2.68. The company reported sales of $975.54 million, an increase of 7% as reported and 6% organically, missing the consensus of consensus of $979.18 million.

https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41659873/idexx-laboratories-adjusts-guidance-as-q3-revenue-growth-slows-analyst-notes-fewer-

IDXX Q3 Earnings Top, '24 Sales View Down, Stock Dips in Premarket

IDXX's Q3 revenues benefit from strong growth in its CAG and Water segments.

https://www.zacks.com/stock/news/2362038/idxx-q3-earnings-top-24-sales-view-down-stock-dips-in-premarket

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IDEXX Laboratories Inc. Price History

21.07.2024 - IDXX Stock was down 0.6%

• The downward trend in IDXX today may be due to the following reasons:
• Profit-taking: Investors who have realized substantial profits from holding IDXX stock for an extended period may have opted to sell shares to secure their gains, resulting in a decrease in the stock price.
• Market correction: Following a period of sustained success, IDXX might be undergoing a natural market correction as investors review their positions and explore new investment prospects.
• External influences: Economic conditions or industry-related developments could also be impacting the bearish movement in IDXX today, prompting investors to modify their investment portfolios accordingly.

31.09.2024 - IDXX Stock was down 9.5%

• Third-quarter earnings of IDXX surpassed adjusted EPS predictions but fell short of revenue consensus, hinting at possible hurdles in revenue expansion.
• The deceleration in revenue growth is possibly linked to a decline in veterinary visits, influencing the company's sales trajectory.
• Noteworthy growth in segments such as CAG and Water was eclipsed by the lower-than-expected revenue, possibly instigating a downward trend in the stock's value.
• Concerns among investors about IDXX's future growth sustainability are palpable, with guidance adjustments contributing to the stock's market decline.

01.10.2023 - IDXX Stock was down 5.6%

• Possible reasons for the bearish movement:
• 1. IDEXX Laboratories trimmed its revenue forecast, which may have disappointed investors.
• 2. Despite beating Street estimates for its third-quarter earnings, the market may have reacted negatively to the news.
• 3. Investors might have been expecting even stronger growth or positive guidance from IDEXX Laboratories, leading to a sell-off.
• Overall, the bearish movement in IDXX could be attributed to the company's revenue forecast revision and potentially high market expectations.

05.11.2023 - IDXX Stock was up 5.2%

• The bullish movement in IDXX stock could be attributed to positive market sentiment and investor confidence in the company's growth prospects.
• The fair valuation analysis mentioned in an article from GuruFocus might have highlighted the undervalued nature of IDXX stock, attracting more investors to buy shares.
• The increased position of The Manufacturers Life Insurance Company, as mentioned in an article from EIN News Manufacturing, could have also contributed to the bullish movement, indicating institutional interest and support for the stock.

06.01.2024 - IDXX Stock was up 8.5%

• IDXX stock had a strong bullish movement today, with an 8% jump.
• The company reported better-than-expected fourth-quarter 2023 financial results, with adjusted EPS of $2.32, beating the consensus of $2.12.
• The strong Q4 and full-year 2023 results contributed to the positive market movement.
• Investors have taken a bullish approach towards IDXX, indicating confidence in the company's future prospects.

01.02.2024 - IDXX Stock was up 1.0%

• IDXX has shown a strong bullish movement today.
• The impressive long-term performance of IDXX, outperforming the market by 13.65% annually over the past 15 years, has been highlighted.
• Investors may be reacting positively to the company's consistent growth and market outperformance, driving the bullish movement in the stock.
• The long-term success and market capitalization of $47.73 billion further reinforce investor confidence in IDXX, contributing to today's bullish trend.

03.10.2023 - IDXX Stock was up 5.7%

• The bullish movement in IDXX stock today can be attributed to the following factors:
• 1. Positive revenue growth: Despite a recent decline in its U.S. clinical business, IDXX has shown double-digit revenue growth in recent years. This positive trend may have boosted investor confidence and contributed to the bullish movement.
• 2. Analyst expectations: Although IDXX reported slightly lower sales than expected in Q3, its adjusted EPS exceeded the consensus. This performance may have reassured investors and led to the bullish movement.
• 3. Industry comparison: The article mentioning DexCom (DXCM), a competitor in the health care equipment and supplies industry, may have indirectly influenced the market movement. Investors conducting comprehensive evaluations may have found IDXX more favorable in comparison, leading to increased demand for its stock.
• 4. Overall market sentiment: It is important to consider the broader market sentiment when assessing individual stock movements. If the overall market was experiencing a bullish trend, it could have positively impacted IDXX stock as well.

02.10.2023 - IDXX Stock was up 8.0%

• IDEXX Labs reported a decline in its U.S. clinical business and revised its full-year revenue guidance, which initially caused a slip in the stock. However, the market rebounded and the stock had a strong bullish movement.
• Despite missing the consensus on Q3 sales, IDEXX Labs exceeded expectations on adjusted EPS, which could have contributed to the bullish movement.
• The comprehensive guide on IDEXX Labs' value might have provided positive insights to investors, boosting the stock's performance.
• It's worth noting that there were articles mentioning DexCom, a competitor in the health care equipment and supplies industry, but there is no direct correlation between their news and the bullish movement of IDXX.

15.04.2024 - IDXX Stock was up 5.2%

• Upgrading IDXX from a hold to a buy rating likely boosted investor confidence in the company's future prospects, leading to increased buying activity.
• The announcement of IDEXX Laboratories' participation in the Stifel Jaws & Paws Conference and the 2024 Investor Day could have signaled to investors the company's commitment to innovation and growth, further driving up the stock price.
• The leadership transition and shareholder approval news may have instilled confidence in investors regarding the company's strategic direction and stability, contributing to the bullish movement in the stock.
• Overall, the combination of positive news catalysts, such as upgrades, conference participation, and leadership transitions, likely fueled the strong bullish movement in IDXX's stock price today.

17.06.2024 - IDXX Stock was up 5.1%

• The bullish movement in IDXX stock today could be attributed to the positive P/E ratio insights, indicating potential undervaluation and attracting investors.
• The comparison with another stock might have highlighted IDXX as a more favorable option, driving increased buying interest.
• Despite the downgrade to a "Hold" rating, investors may have interpreted this as a neutral stance rather than a negative one, leading to a continued bullish sentiment in the market.
• Overall, the combination of positive valuation metrics, comparative analysis, and the perceived neutral rating change likely contributed to the strong bullish movement in IDXX stock today.

06.07.2024 - IDXX Stock was up 5.3%

• Following the impressive second-quarter results, IDXX stock demonstrated a bullish trend, surpassing estimates for both EPS and revenue.
• The favorable earnings report, highlighted by exceeding EPS forecasts and revenue growth, likely enhanced investor confidence in the company's performance and future outlook.
• Despite lowering its FY24 guidance in a separate update, the market primarily responded to the strong quarterly results, propelling a bullish sentiment in IDXX stock.
• The failure to meet earnings and revenue projections in a different statement did not notably sway market sentiment towards IDXX today, as attention remained focused on the positive quarterly showing.

06.07.2024 - IDXX Stock was up 5.8%

• Despite reducing its FY24 guidance and falling short of earnings projections, the robust revenue growth in the second quarter, notably in CAG and Water divisions, likely made a positive impression on investors.
• The rescheduled earnings call possibly hinted at favorable developments or strategic changes within the company, prompting optimism among investors.
• The market's positive response may suggest that investors are placing more emphasis on the company's future growth prospects and innovative solutions rather than immediate financial setbacks.