Is There An Opportunity To Buy IDEXX Labs, The Animal Diagnostics-Focused Firm Stock After Q3 Performance? Analyst Answers
Portfolio Pulse from Vandana Singh
IDEXX Laboratories Inc reported Q3 FY23 sales of $915.53 million, missing the consensus of $926.76 million. Adjusted EPS was $2.50, beating the consensus of $2.37. The company raised its FY2023 EPS guidance but lowered the FY23 sales guidance. Despite the mixed results, William Blair maintains that the veterinary healthcare sector, and IDEXX in particular, remains a secure and attractive investment option due to its robust financial position and recurring-revenue business model. IDXX shares are down 3.42% at $385.80.
November 01, 2023 | 4:32 pm
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IDEXX Laboratories reported mixed Q3 results with sales missing consensus but EPS beating. The company raised its FY23 EPS guidance but lowered sales guidance. Despite this, it is seen as a secure investment.
IDEXX Laboratories reported mixed Q3 results with sales missing consensus but EPS beating. This could lead to some short-term uncertainty among investors, reflected in the stock's recent drop. However, the company's raised EPS guidance and its position in the resilient veterinary healthcare sector could provide some reassurance, potentially stabilizing the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100