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IDXX 
IDEXX Laboratories Inc (IDXX)
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Upturn Advisory Summary
01/09/2026: IDXX (3-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Moderate Performance
These Stocks/ETFs, based on Upturn Advisory, typically align with the market average, offering steady but unremarkable returns.
Number of Analysts
13 Analysts rated it
Moderately tracked stock, growing coverage, gaining market and investor attention.
1 Year Target Price $766
1 Year Target Price $766
| 3 | Strong Buy |
| 3 | Buy |
| 6 | Hold |
| 1 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 28.75% | Avg. Invested days 44 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  3.0 |
| Profits based on simulation | Last Close 01/09/2026 |
Key Highlights
Company Size Large-Cap Stock | Market Capitalization 56.99B USD | Price to earnings Ratio 56.49 | 1Y Target Price 766 |
Price to earnings Ratio 56.49 | 1Y Target Price 766 | ||
Volume (30-day avg) 13 | Beta 1.67 | 52 Weeks Range 356.14 - 769.98 | Updated Date 01/9/2026 |
52 Weeks Range 356.14 - 769.98 | Updated Date 01/9/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) 12.61 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 24.65% | Operating Margin (TTM) 32.11% |
Management Effectiveness
Return on Assets (TTM) 24.07% | Return on Equity (TTM) 64.63% |
Valuation
Trailing PE 56.49 | Forward PE 50 | Enterprise Value 57962564851 | Price to Sales(TTM) 13.68 |
Enterprise Value 57962564851 | Price to Sales(TTM) 13.68 | ||
Enterprise Value to Revenue 13.91 | Enterprise Value to EBITDA 39.95 | Shares Outstanding 79851330 | Shares Floating 78992130 |
Shares Outstanding 79851330 | Shares Floating 78992130 | ||
Percent Insiders 0.68 | Percent Institutions 95.43 |
Upturn AI SWOT
IDEXX Laboratories Inc
Company Overview
History and Background
IDEXX Laboratories, Inc. was founded in 1983 by Dr. Peter Michelson. It began as a diagnostics company focused on animal health. Significant milestones include the development of early diagnostic tests for animals and expansion into veterinary software and services. The company has consistently invested in research and development, solidifying its position as a leader in veterinary diagnostics and information technology.
Core Business Areas
- Veterinary Diagnostics: Provides a comprehensive suite of diagnostic tests and instruments for companion animals, including in-clinic analyzers and reference laboratory services. This segment also includes point-of-care diagnostic solutions for veterinarians.
- Veterinary Software, Services, and Other: Offers practice management software, digital radiography solutions, and practice marketing services. This segment aims to enhance veterinary practice efficiency and client communication. It also includes products for livestock and poultry health.
Leadership and Structure
IDEXX Laboratories is led by a seasoned executive team with deep experience in the veterinary and diagnostics industries. The organizational structure is typically aligned around its core business segments, with dedicated teams for R&D, sales, marketing, and operations.
Top Products and Market Share
Key Offerings
- Catalyst Dx System: An advanced in-clinic diagnostic analyzer that performs a wide range of blood chemistry, electrolyte, and immunoassay tests. Competitors include Heska Corporation (now Mars Veterinary Health), Antech Diagnostics (part of Mars Veterinary Health), and Idexx's own reference laboratory services.
- IDEXX VetConnectPlus: A cloud-based platform that integrates diagnostic results, practice management software, and patient records, providing veterinarians with a holistic view of their patients' health. Competitors include systems offered by other veterinary software providers and diagnostic companies that offer integrated solutions.
- SNAP Tests: Point-of-care diagnostic tests for rapid detection of various diseases and conditions in animals, such as heartworm, FIV/FeLV, and parvovirus. These are widely used by veterinary clinics globally. Key competitors include Heska Corporation and Antech Diagnostics.
Market Dynamics
Industry Overview
The veterinary diagnostics and services market is characterized by strong growth driven by increasing pet ownership, rising expenditure on pet healthcare, and advancements in diagnostic technologies. The industry is consolidating, with larger players acquiring smaller entities.
Positioning
IDEXX Laboratories is a market leader in veterinary diagnostics, known for its innovation, comprehensive product portfolio, and strong customer relationships. Its integrated approach, combining diagnostics with software and services, provides a competitive advantage.
Total Addressable Market (TAM)
The global animal health market, which includes diagnostics, pharmaceuticals, and services, is estimated to be in the tens of billions of dollars and is projected to continue growing. IDEXX is particularly focused on the companion animal diagnostics and veterinary software segments, which represent a significant portion of this TAM. The company holds a substantial share of its addressable market.
Upturn SWOT Analysis
Strengths
- Strong brand recognition and reputation in the veterinary industry.
- Extensive and diversified product portfolio in diagnostics and software.
- Significant investment in research and development leading to continuous innovation.
- Established global distribution network and strong customer relationships.
- Recurring revenue model through consumables and software subscriptions.
Weaknesses
- Reliance on a few key product lines.
- Potential for increased competition from larger, consolidated players.
- High R&D costs can impact short-term profitability.
- Sensitivity to economic downturns that may affect discretionary spending on pet care.
Opportunities
- Growing global demand for pet healthcare services.
- Expansion into emerging markets.
- Development of new diagnostic technologies and personalized medicine for pets.
- Further integration of software and diagnostic solutions.
- Increased focus on point-of-care diagnostics and rapid testing.
Threats
- Intensifying competition from both established players and new entrants.
- Regulatory changes impacting diagnostic testing and product approvals.
- Potential for disruptive technological advancements by competitors.
- Economic recessions leading to reduced consumer spending on pets.
- Supply chain disruptions impacting manufacturing and distribution.
Competitors and Market Share
Key Competitors
- Mars Veterinary Health (Antech Diagnostics, Heska Corporation)
- Zoetis Inc. (ZTS)
- Merck Animal Health (MRK)
- Elanco Animal Health Incorporated (ELAN)
Competitive Landscape
IDEXX's advantages lie in its strong focus on diagnostics innovation, integrated software solutions, and established customer loyalty. Competitors like Mars Veterinary Health offer significant scale and a broad portfolio, while Zoetis, Merck, and Elanco are major players in animal pharmaceuticals, with increasing interest in diagnostics. IDEXX differentiates itself through its deep technological expertise in diagnostics and its comprehensive software ecosystem for veterinary practices.
Major Acquisitions
Heska Corporation
- Year: 2022
- Acquisition Price (USD millions): 3700
- Strategic Rationale: To expand its diagnostics portfolio, enhance its offering of point-of-care solutions, and strengthen its position in the global veterinary diagnostics market.
Growth Trajectory and Initiatives
Historical Growth: IDEXX has experienced sustained historical growth, averaging double-digit revenue growth over many years. This growth has been fueled by its innovative product pipeline, expansion in diagnostic testing volumes, and the increasing adoption of its software solutions by veterinary practices.
Future Projections: Analyst estimates project continued revenue and earnings growth for IDEXX, supported by the expanding companion animal market, its strong competitive position, and ongoing product innovation. Projections often highlight the company's ability to capitalize on key industry trends.
Recent Initiatives: Recent strategic initiatives have included the expansion of its reference laboratory network, the launch of new diagnostic platforms and tests, and the enhancement of its digital software offerings to provide more integrated practice management solutions.
Summary
IDEXX Laboratories Inc. is a strong leader in the growing veterinary diagnostics and information technology market. Its core strengths lie in continuous innovation, a comprehensive product suite, and deep customer relationships, particularly in companion animal diagnostics. The company's integrated approach of combining diagnostics with software offers a significant competitive edge. While facing increasing competition and potential economic headwinds, IDEXX's robust financial performance and strategic acquisitions position it well for continued growth and market dominance.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Company Investor Relations
- Financial Data Providers (e.g., Bloomberg, Refinitiv)
- Industry Research Reports
- SEC Filings (10-K, 10-Q)
Disclaimers:
This information is for informational purposes only and does not constitute financial advice. Market share data and TAM estimates are subject to change and depend on the specific market segment being analyzed. Competitor landscape and market share are estimates and can vary based on reporting methodologies.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About IDEXX Laboratories Inc
Exchange NASDAQ | Headquaters Westbrook, ME, United States | ||
IPO Launch date 1991-06-21 | President, CEO & Director Mr. Jonathan J. Mazelsky | ||
Sector Healthcare | Industry Diagnostics & Research | Full time employees 11000 | Website https://www.idexx.com |
Full time employees 11000 | Website https://www.idexx.com | ||
IDEXX Laboratories, Inc. develops, manufactures, and distributes products for the companion animal veterinary, livestock and poultry, dairy, and water testing industries in the United States and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy. It offers in-clinic chemistry, blood and urine chemistry, hematology, immunoassay, urinalysis, cytology, and coagulation analyzers; and SNAP rapid assays test kits. The company also provides commercial reference laboratory diagnostic and consulting services to veterinarians; veterinary consultation, telemedicine, and advisory services, including radiology, dental radiography, cardiology, internal medicine, and ultrasound consulting; 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, Quanti-Tray products, and Tecta system instruments; and veterinary software and services for independent veterinary clinics and corporate groups. In addition, it offers diagnostic tests, services, and related instrumentation to manage the health status of livestock and poultry; human medical diagnostic products and services; and VetConnect PLUS, a cloud-based technology that enables veterinarians to access and analyze patients, as well as operates VetLab Station. 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.
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