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With a market cap of $33 billion, IDEXX Laboratories, Inc. (IDXX) develops, manufactures, and distributes products for the companion animal veterinary, livestock and poultry, dairy, and water testing industries internationally. Headquartered in Westbrook, Maine, the company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.
Companies valued at $10 billion or more are generally described as “large-cap stocks,” and IDEXX Laboratories definitely fits that description. The multinational corporation’s diagnostic and software products and services create clarity in the complex and deliver insights and solutions that help the veterinary community around the world.
The animal diagnostic and healthcare company declined nearly 26% from its 52-week high of $548.88. In addition, shares of IDXX dropped nearly 6% in the past three months, surpassing the broader Nasdaq Composite ($NASX), which dipped 13.2% over the same period.
In the long term, IDXX is down 1.7% on a YTD basis, outpacing NASX's 10.4% decrease. However, shares of IDXX have slipped 24.8% over the past 52 weeks, lagging behind NASX’s nearly 7% increase over the same time period.
Since mid-June last year, IDXX has been trading below its 50-day and 200-day moving averages.
Shares of IDEXX climbed 11.1% following its Q4 2024 earnings release on Feb. 3. The company posted revenue of $954.3 million, and its EPS came in at $2.62, exceeding Wall Street expectations. IDXX’s positive results were largely driven by strong growth in its segment Companion Animal Group (CAG) amounted to $870.5 million, up 6% year-over-year. Additionally, for the fiscal year 2025, the company expects to grow sales by 4% to 7%, while EPS is projected to jump between 10% and 15%.
In comparison with its rival, CareDx, Inc (CDNA) has outperformed IDXX, gaining 67.5% over the past 52 weeks. Although, CareDx has declined 17.6% on a YTD basis, a steeper decline than IDXX.
Despite IDXX’s weak performance over the last year, analysts remain cautiously optimistic about its prospects. Among the 11 analysts covering the stock, there is a consensus rating of “Moderate Buy,” and IDXX is currently trading below the mean price target of $518.50.
On the date of publication, Sohini Mondal 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.
