Idexx Laboratories initiated with an Outperform at Leerink

Leerink analyst Daniel Clark initiated coverage of Idexx Laboratories (IDXX) with an Outperform rating and $500 price target The firm notes Idexx Laboratories is the dominant player in the veterinarian testing space and has been the best growth story in animal health. The company has benefited from a steady increase in diagnostic testing in pets, complemented by new product launches that have been well-received by veterinarians. Aided by its proprietary MEDACorp survey work, Leerink sees a continued runway of growth for Idexx. Although vet visit volumes are outside the company’s control, the firm does note that its survey respondents expect a pickup in volumes, which helps it get comfortable modeling above-consensus revenue and adjusted EPS growth in 2025.