William Blair analyst Ryan Daniels has maintained their bullish stance on IDXX stock, giving a Buy rating on November 4.
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Ryan Daniels has given his Buy rating due to a combination of factors related to Idexx Laboratories’ inVue Dx model. The management’s updated guidance indicates a significant increase in the expected placements of the inVue Dx analyzers, which is projected to reach 6,000 units by the end of 2026. This marks a substantial rise from the initial expectation of 4,500 units, suggesting strong market demand and potential for growth.
In the bull case scenario, the inVue Dx model is anticipated to contribute significantly to the company’s Companion Animal Group (CAG) growth, with an estimated addition of 235 basis points to the overall growth by 2026. Even in the base-case scenario, the recurring consumable sales and analyzer sales are expected to provide a notable boost to CAG growth, enhancing the company’s financial performance. These factors collectively underpin Daniels’s positive outlook and Buy rating for Idexx Laboratories’ stock.
In another report released on November 4, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $713.00 price target.
Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IDXX in relation to earlier this year.