IDEXX Laboratories Q3: Weak End-Market Demand Continues
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IDEXX Laboratories faces weak demand in the U.S. clinical market, leading to a 'Sell' rating and a price target of $400. Q3 results showed a decline in clinical visits and missed expectations, prompting lowered revenue guidance for FY24. Macroeconomic challenges and high-interest rates are expected to impact growth.
November 11, 2024 | 1:00 am
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IDEXX Laboratories reported weak Q3 results with a decline in clinical visits and missed market expectations. The company lowered its revenue growth guidance for FY24 due to ongoing macroeconomic challenges and high-interest rates.
The decline in same-store clinical visits and missed market expectations indicate weak demand, leading to a negative outlook. The lowered revenue guidance for FY24 and macroeconomic challenges further support a 'Sell' rating, impacting the stock price negatively in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100