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IDEXX Laboratories Inc - Stock Quote IDXX

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Morningstar's IDEXX Laboratories Inc Stock Analysis

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Idexx Labs Remains the Cat's Meow in Pet Diagnostics; Raising Our Fair Value Estimate

Debbie S. Wang Senior Equity Analyst

Business Strategy and Outlook

| Debbie S. Wang |

Idexx Laboratories has steadily increased its scale and reach in the veterinary diagnostic lab business to dig a narrow moat. It is well-positioned to benefit from two key trends. First, pet ownership continues to grow, with an estimated 70% of U.S. households owning pets in 2021 compared with 56% in 1988. Moreover, pet owners have demonstrated greater willingness to spend more on their animals, having more than tripled spending on pet products and services since 1994.

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Key Statistics - IDXX

IDEXX Laboratories Inc's Company Profile

Business Description

Idexx Laboratories primarily develops, manufactures, and distributes diagnostic products, equipment, and services for pets and livestock. Its key product lines include single-use canine and feline test kits that veterinarians can employ in the office, benchtop chemistry and hematology analyzers for test-panel analysis on-site, reference lab services, and tests to detect and manage disease in livestock. The firm also offers vet practice management software and consulting services to animal hospitals. Idexx gets about 38% of its revenue from outside the United States.

One IDEXX Drive
Westbrook, ME, 04092
T +1 207 556-0300
Industry Diagnostics & Research
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Aggressive Growth
Employees 10,350

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