IDEXX Laboratories, Inc. Website

IDEXX Laboratories, Inc.

NasdaqGS-IDXX

Company Overview

IDEXX Laboratories, Inc. develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through CAG; Water Quality Products; LPD; and Other segments. It provides point-of-care veterinary diagnostic products, including instruments, consumables, and rapid assay test kits; veterinary reference laboratory diagnostic and consulting services; practice management and diagnostic imaging systems and services for veterinarians; and health monitoring, biological materials testing, and laboratory animal diagnostic instruments and services for biomedical research community. The company also offers diagnostic and health-monitoring products for livestock, poultry, and dairy; products that test water for various microbiological contaminants; and point-of-care electrolytes and blood gas analyzers and SARS-CoV-2 RT-PCR that are used in the human point-of-care medical diagnostics market; in-clinic chemistry, blood and urine chemistry, hematology, and SediVue Dx analyzers; SNAP rapid assays test kits. In addition, it provides Colilert, Colilert-18, and Colisure tests, which detect the presence of total coliforms and E. coli in water; Enterolert, Pseudalert, Filta-Max and Filta-Max xpress, Legiolert, and Quanti-Tray products; veterinary software and services for independent veterinary clinics and corporate groups. The company markets its products through marketing, customer service, sales, and technical service groups, as well as through independent distributors and other resellers. IDEXX Laboratories, Inc. was incorporated in 1983 and is headquartered in Westbrook, Maine.

  • Name

    IDEXX Laboratories, Inc.

  • CEO

    Jonathan J. Mazelsky

  • Website

    www.idexx.com

  • Sector

    Health Care Equipment and Supplies

  • Year Founded

    1983

Company Statistics

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Bulls Say

  • Unlike human healthcare, pet health services and products require cash payments—thereby bypassing the reimbursement issues and pricing pressure associated with third-party payers.

  • Anecdotal information from vets suggests that Idexx's well-integrated and user-friendly practice management software helps hospitals switch to and stick with Idexx's products and services.

  • Idexx's sales and customer support staff garner high marks for providing high-touch service to vet practices.

Bears Say

  • International sales account for a substantial chunk of Idexx's total revenue; as the US dollar strengthens, Idexx would feel the pain on its top and bottom lines.

  • Idexx's rapid assay product line is most vulnerable to competitive pressure through the vet distributors. The firm could see growth in this area stagnate or decline.

  • Shares typically trade at a high multiple to forward earnings, so even a small pullback in pet healthcare spending could result in a material drop in share price.

Source: Morningstar Analysis - Dec 01, 2025

What's happening

Nov 12, 2025 - Dec 12, 2025

IDEXX Laboratories Faces Mixed Sentiment Amid Valuation Concerns

  • Barclays analyst initiated coverage with an Overweight rating and a price target of $850.00, providing a brief positive boost to the stock.
  • The company achieved its highest daily and weekly closes in late November, indicating temporary investor optimism despite ongoing valuation concerns.
  • Persistent bearish trends have overshadowed bullish indicators, leading to caution among investors regarding potential overvaluation risks.

Over the past month, IDEXX Laboratories Inc. (IDXX) experienced a decline of 1.4%, underperforming relative to the S&P 500's return of 0.7%. This performance gap of 2.1% highlights challenges faced by IDXX during this period as mixed sentiment surrounded the stock due to various market factors.

A significant bullish catalyst occurred on December 9 when Barclays analyst Glen Santangelo initiated coverage on IDXX with an Overweight rating and set a price target of $850.00, resulting in a positive movement in the stock price by 0.8%. However, earlier discussions about animal health market projections raised concerns regarding valuation metrics; specifically, there was mention of an expected compound annual growth rate (CAGR) of 35% for the total addressable market through 2030 alongside worries about IDXX’s high P/E ratio at 59.65 compared to industry averages.

The end of November marked another notable moment for IDXX as it achieved its highest daily and weekly closes following strong trading volume and breaking out from what appeared to be a four-year base pattern; this breakout led to an increase in share price by approximately 3.6%. Despite these bullish indicators early in December, persistent bearish trends continued impacting overall sentiment toward IDXX's stock performance throughout this timeframe.

Overall, while moments such as analyst upgrades provided temporary boosts—like those seen after breakouts—the overarching narrative reflected caution among investors primarily due to valuation concerns amidst competitive dynamics within animal health services sector markets. IDEXX Laboratories Inc underperformed the Health Care (XLV) sector by -3.3%.

NasdaqGS:IDXX