Gold prices near 3-week lows as stronger dollar, trade progress weigh
In a recent transaction, Sophie Vandebroek, a director at IDEXX Laboratories Inc. (NASDAQ:IDXX), sold shares of the company’s common stock. According to a filing with the Securities and Exchange Commission, Vandebroek sold 344 shares at an average price of $420.435 per share, amounting to a total of $144,629.
Following this sale, Vandebroek holds 905 shares in the company. The transaction occurred on November 27, 2024, and was officially filed on November 29, 2024. This sale represents a portion of Vandebroek’s direct ownership in IDEXX Laboratories, a company known for its in vitro and in vivo diagnostic substances.
In other recent news, IDEXX Laboratories, Inc. reported a 6% organic revenue growth in its third quarter of 2024, along with an 11% year-over-year increase in EPS, reaching $2.80. Despite macroeconomic pressures and weather-related challenges, the company's Companion Animal Group (CAG) diagnostics recurring revenues and water business saw significant growth. However, IDEXX revised its full-year organic revenue growth forecast to a range of 5.3% to 6%, slightly down from previous estimates. The company has also adjusted the CAG diagnostic recurring revenue growth to 5.8%-6.4%.
IDEXX's total reported revenue guidance for 2024 has also been revised to $3.865 billion to $3.890 billion. Amid these changes, the company demonstrated robust execution in Q3, with customer retention rates over 97% and growth in the premium instrument installed base. New innovations, including the IDEXX inVue Dx Cellular Analyzer, are expected to bolster future growth.
Despite the impact of macroeconomic factors and severe weather on U.S. sector growth, IDEXX remains optimistic about long-term opportunities. The company's adjusted full-year guidance reflects a reduction from prior estimates due to these pressures, but management maintains confidence in the long-term resilience of pet care spending.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.