Leerink Partners analyst Daniel Clark reiterated a Buy rating on Idexx Laboratories (IDXX – Research Report) on May 1 and set a price target of $515.00.
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Daniel Clark has given his Buy rating due to a combination of factors that highlight the resilience and potential of Idexx Laboratories. The company has shown strong execution despite a challenging environment, with diagnostic utilization remaining robust even as visit volumes have declined. This resilience in diagnostics demand is seen as a positive indicator of the company’s ability to perform well in the current macroeconomic conditions.
Moreover, the initial interest in Cancer Dx and the reaffirmation of 4.5K InVue Dx placements this year are promising developments. The company’s operating margins are expected to expand, and the impact of tariffs is minimal. Additionally, Idexx Laboratories is actively engaging in stock buybacks, which is viewed favorably. These factors, combined with a raised 12-month price target from $500 to $515, support the Buy rating given by Daniel Clark.
Clark covers the Healthcare sector, focusing on stocks such as Elanco Animal Health, Zoetis, and Idexx Laboratories. According to TipRanks, Clark has an average return of -0.4% and a 50.00% success rate on recommended stocks.