IDEXX: Strong Recurring Revenues From Consumables, Software But Overvalued (Rating Downgrade) [Seeking Alpha]
IDEXX Laboratories, Inc. (IDXX)
Last idexx laboratories, inc. earnings: 4/30 06:30 am
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US:NASDAQ Investor Relations:
idexx.com/en/about-idexx/investors
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Source: Seeking Alpha
The company has experienced double-digit growth in consumables, software, and diagnostic imaging, driving their overall revenue growth. While IDEXX's business is strong, the stock price is considered overvalued, leading to a 'Hold' rating with a one-year price target of $420 per share. In my initiation report published in July 2023, I discussed IDEXX's ( NASDAQ: IDXX ) recession resistant business model and their overpriced valuation. Since then, their stock price has underperformed compared to S&P 500 Index return. They finished FY23 with 8.8% organic revenue growth and 25% operating profit growth, maintaining strong growth momentum from both volume and net pricing. The double-digit growth in consumables, software, services, and diagnostic imaging drives the company's recurring revenue growth. However, I still consider the stock price is overvalued, and I am downgrading to ‘Sell' rating with a one-year price target of $420 per share. Consumables and Veterinary Software and Dia
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News
- Seeking Clues to Idexx (IDXX) Q1 Earnings? A Peek Into Wall Street Projections for Key Metrics [Yahoo! Finance]Yahoo! Finance
- IDEXX Laboratories Insiders Sell US$4.5m Of Stock, Possibly Signalling Caution [Yahoo! Finance]Yahoo! Finance
- What Lies Ahead of IDEXX Laboratories (IDXX) in Q1 Earnings? [Yahoo! Finance]Yahoo! Finance
- First mixed-use building at The Downs will add housing near Costco, Idexx [Yahoo! Finance]Yahoo! Finance
- Idexx Laboratories (IDXX) Beats Stock Market Upswing: What Investors Need to Know [Yahoo! Finance]Yahoo! Finance
IDXX
Earnings
- 2/5/24 - Beat
IDXX
Sec Filings
- 3/27/24 - Form DEFA14A
- 3/27/24 - Form ARS
- 3/27/24 - Form DEF
- IDXX's page on the SEC website