Idexx Laboratories Price Target Raised to $600 by Leerink Analyst

Leerink analyst Daniel Clark raised Idexx Laboratories' price target to $600 from $580 and maintains an Outperform rating. The firm likes Idexx's setup over the next few years and raises its 12-month target following channel checks and a semiannual veterinarian survey.

Leerink analyst Daniel Clark has increased the price target for Idexx Laboratories (IDXX) from $580 to $600, while maintaining an Outperform rating for the stock [1]. This adjustment follows thorough channel checks and insights from a semiannual survey conducted with veterinarians. The analyst remains confident in Idexx's strategic positioning over the upcoming years, indicating potential growth prospects for the company.

Wall Street analysts forecast a one-year average target price of $531.30 for IDEXX Laboratories, with a high estimate of $625.00 and a low estimate of $389.92 [1]. The average target implies an upside of 2.06% from the current price of $520.57. The consensus recommendation from 15 brokerage firms is currently 2.1, indicating an "Outperform" status [1].

GuruFocus estimates the GF Value for IDEXX Laboratories at $571.11 in one year, suggesting an upside of 9.71% from the current price of $520.57 [1]. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at, calculated based on historical multiples and future performance estimates.

IDEXX Laboratories reported a 5% organic revenue growth in Q1 2025, driven by strong performance in CAG Diagnostics and veterinary software [1]. The company achieved a 9% expansion in its premium instrument install base, indicating robust demand for its diagnostic tools. The IDEXX Cancer Dx and IDEXX inVue Dx launches are gaining traction, with over 1,000 practices ordering the Cancer Dx test within a month of launch. The company reported a 10% organic growth in IDEXX VetLab consumable revenues, reflecting high demand for its consumables.

However, US clinical visits declined by 2.6% in Q1 2025, posing a challenge to revenue growth in the domestic market. Global Rapid Assay revenues declined 2% organically, impacted by a shift in pancreatic lipase testing to the Catalyst instrument platform. Operating expenses increased by 4% year-over-year, driven by higher R&D and commercial spending. Foreign exchange fluctuations posed a challenge, reducing operating profits by $4 million and impacting EPS by approximately $0.04 per share. The company faced a 13% decline in CAG premium instrument placements compared to high prior year levels, indicating potential market saturation or competitive pressures.

In the last three months, 6 analysts have published ratings on IDEXX Laboratories, offering a diverse range of perspectives [2]. The average analyst price target is $543.83, with a high estimate of $600.00 and a low estimate of $475.00. Analysts' recent actions reflect their reaction to market conditions and company performance, with some raising their ratings and price targets while others lowering them.

References:
[1] https://www.gurufocus.com/news/2983331/idexx-laboratories-idxx-sees-raised-price-target-from-leerink-analyst-idxx-stock-news
[2] https://www.nasdaq.com/articles/expert-outlook-idexx-laboratories-through-eyes-6-analysts