IDEXX Laboratories' Q2 Earnings Top Estimates, Analyst Maintain Outperform Citing Resilient Animal Health Market
Portfolio Pulse from Vandana Singh
IDEXX Laboratories Inc reported Q2 FY23 sales of $943.63 million, beating the consensus of $927.84 million. The company also raised its FY23 revenue guidance from $3.615 billion-$3.70 billion to $3.66 billion-$3.715 billion. William Blair analysts reaffirmed the resilience of the global animal health market and maintained an Outperform rating for the stock. However, IDXX shares closed down by 4.04% at $532.30 on Tuesday.
August 04, 2023 | 10:35 am
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IDEXX Laboratories reported strong Q2 FY23 results and raised its FY23 revenue guidance. Despite this, the stock closed down by 4.04%.
Despite reporting strong Q2 FY23 results and raising its FY23 revenue guidance, IDXX's stock price fell by 4.04%. This could be due to market factors unrelated to the company's performance. However, the company's strong performance and positive outlook could lead to a recovery in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100