Valued at $44.1 billion by market cap, IDEXX Laboratories, Inc. (IDXX) is a global veterinary diagnostics and animal healthcare technology company headquartered in Westbrook, Maine. The company develops diagnostic instruments, laboratory services, software, and testing solutions primarily for veterinarians, livestock producers, and water quality testing organizations.
Shares of this global leader in pet healthcare innovation have underperformed the broader market over the past year. IDXX has gained 10.8% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 27.9%. In 2026, IDXX stock is down 17.3%, lagging behind SPX’s 9.2% rise on a YTD basis.
Zooming in further, IDXX has outpaced the State Street SPDR S&P Health Care Equipment ETF (XHE), which has delivered a marginal rise over the past year.
On May 5, IDEXX Laboratories delivered strong first-quarter earnings, driven by solid demand for companion animal diagnostics, strong pricing execution, and continued adoption of its diagnostic instruments. Revenue rose 14% year over year to $1.14 billion, while organic revenue growth reached 11%. The company also posted robust profitability, with EPS increasing 17% to $3.47, supported by recurring diagnostic revenue growth, operating leverage, and favorable currency trends.
Following its strong first-quarter performance, IDEXX Laboratories raised its full-year 2026 outlook, projecting revenue of $4.675 billion to $4.760 billion and EPS in the range of $14.45 to $14.90, reflecting confidence in sustained growth across its diagnostics and software businesses. Its shares rose 2.9% in the next trading session.
For the current fiscal year, ending in December, analysts expect IDXX’s EPS to grow 21.2% to $14.68 on a diluted basis. The company’s earnings surprise history is impressive. It beat the consensus estimate in each of the last four quarters.
Among the 15 analysts covering IDXX stock, the consensus is a “Moderate Buy.” That’s based on eight “Strong Buy” ratings, one “Moderate Buy,” and six “Holds.”
On May 6, Morgan Stanley analyst Erin Wright reiterated a “Buy” rating on IDEXX Laboratories and raised the firm’s price target to $805.
The mean price target of $731.54 represents a 30.7% premium to IDXX’s current price levels. The Street-high price target of $823 suggests a notable upside potential of 47.1%.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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