IDEXX Laboratories, Inc. IDXX has unveiled the IDEXX Cancer Dx, a first-of-its-kind diagnostic panel with early detection of lymphoma in dogs. This affordable and accessible blood test can be added to panels for sick pets and integrated into annual wellness screenings for as low as $15, providing veterinarians in the United States with actionable results within two to three days.

The test is especially crucial for the 20 million dogs in North America who face an increased risk of cancer. Early detection and treatment of canine lymphoma, one of the most common cancers, may help extend the lifespan and improve the quality of life for affected dogs.

Predicting IDXX Stock Movement Following the News

Following the announcement yesterday, shares of IDEXX edged up 0.4%, finishing at $432.34. The latest solution builds on the company’s more than 40 years of leadership in veterinary research and technology development.  IDEXX is leading the charge in early cancer detection for dogs and is eager to expand the IDEXX Cancer Dx to include other cancer types. We expect the latest development to positively boost market sentiment toward the stock.

IDEXX currently has a market capitalization of $35.26 billion. The company’s earnings yield of 2.79% compares favorably to the industry’s yield of -3.23%. It delivered an earnings beat of 0.9%, on average, in the trailing four quarters.

Significance of IDEXX’s New Panel

The IDEXX Cancer Dx panel offers high sensitivity and specificity, yielding reliable results for both sick dogs and routine preventive care for at-risk dogs. Clinicians can add the test to existing diagnostic wellness panels using a single blood sample, reflecting the simplicity aspect. In addition, every IDEXX Cancer Dx result comes with access to IDEXX Medical Consultants, including board-certified oncologists and internists. Pet-owner education materials and resources to support client communications are also provided.

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The test also offers actionable next steps. IDEXX Cancer Dx with lymphoma delivers qualitative results for lymphoma, and B-cell and T-cell phenotype classification will be provided with positive results as available at no additional cost. Moreover, the test now forms part of IDEXX Preventive Care, the most comprehensive portfolio of products and services supporting veterinarians with preventive care. This inclusion unlocks additional insights for at-risk dogs.

Industry Prospects Favor IDEXX

Per a Research report, the global veterinary diagnostics market was valued at $10.71 billion in 2024 and is expected to witness a compound annual rate of 10.04% up to 2030. Some of the key factors driving the market growth include increased expenditure on animal health, rising incidence of diseases in animals, advancements in diagnostics and an increasing medicalization rate.

Other Developments in IDEXX

In December 2024, IDEXX’s board of directors sanctioned an increase in its ongoing share repurchase program, authorizing the repurchase of up to five million additional shares of the company’s common stock. These shares are in addition to the 1.3 million shares remaining under the company’s ongoing share repurchase program as of Dec. 3, 2024, pursuant to previous board authorizations.

IDEXX Stock Price Performance

In the past month, IDEXX shares have risen 4.6% compared with the industry’s growth of 7%.

IDXX’s Zacks Rank and Key Picks

IDEXX currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader medical space are Phibro Animal Health PAHC, Penumbra PEN and Haemonetics HAE. While Phibro Animal Health sports a Zacks Rank #1 (Strong Buy) at present, Penumbra and Haemonetics each carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Phibro Animal Health shares have surged 86.2% in the past year. Estimates for the company’s fiscal 2025 earnings per share have remained constant at $1.62 in the past 30 days. PAHC’s earnings beat estimates in each of the trailing four quarters, the average surprise being 25.47%. In the last reported quarter, it posted an earnings surprise of 52.17%.

Estimates for Penumbra’s 2024 earnings per share have remained constant at $2.81 in the past 30 days. Shares of the company have risen 4.3% in the past year compared with the industry’s 7.2% rise. PEN’s earnings surpassed estimates in three of the trailing four quarters and missed in one, the average surprise being 10.54%. In the last reported quarter, it delivered an earnings surprise of 23.19%.

Estimates for Haemonetics’ fiscal 2025 earnings per share have remained constant at $4.59 in the past 30 days. Shares of the company have declined 5.9% in the past year against the industry’s growth of 4.7%. HAE’s earnings surpassed estimates in three of the trailing four quarters and broke even in one, the average surprise being 2.82%. In the last reported quarter, it delivered an earnings surprise of 2.75%.

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