IDEXX Laboratories Inc. (IDXX) Shows Resilience as Analysts Reassess Targets

IDEXX Laboratories Inc. (NASDAQ:IDXX) is one of the best medical technology stocks to invest in. On February 3, BTIG lowered its price target on IDEXX Laboratories Inc. (NASDAQ:IDXX) to $800 from $830 and maintained a Buy rating. The firm cited concerns about IDEXX’s 2026 guidance despite robust Q4 2025 earnings performance.

IDEXX reported strong fourth-quarter results, with revenue of $1.09 billion, up 14% from last year and above analyst expectations of $1.072 billion. Earnings per share rose 18% to $3.08, beating the Street’s $2.93 estimate. The company remains highly profitable, with a 61.7% gross margin and a return on equity of 65% over the past 12 months.

The companion animal business, IDEXX’s core segment, grew 15% to $998 million, driven by strong instrument revenue of $58 million, up 76% year-over-year. Growth was supported by 1,940 InVueDx system placements, as well as strong demand for Catalyst and SediVue products. This continues IDEXX’s long-term trend of about 10% annual revenue growth and aligns with management’s strategy of share buybacks to boost shareholder value.

For 2026, IDEXX expects revenue of $4.63–$4.72 billion and EPS of $14.29–$14.80, with operating margins slightly improving to 32%–32.5%. BTIG noted a 200-basis-point drag from fewer pet visits, mainly from lower-income owners, but expects 4% price growth globally. The company also plans around 5,500 new InVueDx system placements next year, compared with 6,400 in 2025, to help offset these headwinds.

IDEXX Laboratories Inc. (NASDAQ:IDXX) develops, manufactures, and distributes diagnostic and information technology products for veterinary, livestock, poultry, dairy, and water testing markets. Its offerings include point-of-care diagnostic instruments, rapid assay test kits, veterinary reference laboratory services, and microbiological contaminant testing systems.