Analyst Consensus ?
ConsensusBuy22 ratings
Bullish1359.1%
Neutral836.4%
Bearish14.5%
IDEXX Laboratories, Inc. · IDXX · FY2026 Q1 · Calendar Q2 2026
IDEXX Q1 2026: Beat-and-Raise as Diagnostics Growth Outpaces Slowing Vet Visits
IDEXX Laboratories opened fiscal 2026 with a beat-and-raise quarter, exceeding consensus on both revenue and EPS and upgrading full-year guidance from maintained to raised. The results were anchored by CAG Diagnostics recurring revenue, which ran 1,100 basis points ahead of declining U.S. clinical visits, demonstrating that diagnostic intensity per visit continues to expand even as wellness-visit traffic softens. Premium instrument momentum persisted with 1,100 inVue Dx placements in the quarter toward a 5,500-unit annual target, and international markets delivered double-digit growth highlighted by Cancer DX launches in Europe and Australia. The quarter also brought a CEO transition announcement, with Mike Erickson succeeding Jay Mazelsky. Headwinds included a $5 million equity-investment loss that weighed on Q1 earnings and supply-chain disruptions in the Middle East that pressured…
Reported Before market openNASDAQHealthcare
$44.95B market cap
100quality score
Company context
Snapshot as of publicationIDEXX Laboratories, Inc. is a global enterprise focused on creating, producing, and distributing a wide array of products and services. Its primary client base includes companion animal veterinary practices, the livestock and poultry industries, dairy operations, and water quality testing sectors. The company organizes its operations across several key divisions: the Companion Animal Group (CAG), Water Quality Products, Livestock, Poultry, and Dairy (LPD), and additional segments. For companion animals, IDEXX offers a comprehensive suite of point-of-care veterinary diagnostic tools, such as instruments, consumables, and rapid assay kits. It also provides reference laboratory diagnostic and consultation services, alongside practice management and diagnostic imaging solutions for veterinarians. Furthermore, the company supports the biomedical research community with health monitoring, biological materials testing, and laboratory animal diagnostic instruments and services.…
Earnings scorecard
Reported versus consensus
Reported EPS
$3.47
Consensus $3
EPS surprise
+1.8%
Reported versus consensus
Reported revenue
$1.14B
Consensus $1.12B
Revenue surprise
+2.0%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$569.77Current
$247Low
$642.94Average
$830High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Jul 30, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| UBS | Neutral | Neutral | Maintain | Jul 27, 2026 |
| Stifel | Buy | Buy | Maintain | Mar 31, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | Feb 9, 2026 |
| Barclays | Overweight | Overweight | Maintain | Feb 5, 2026 |
| BTIG | Buy | Buy | Maintain | Feb 3, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Nov 4, 2025 |
| JP Morgan | Overweight | Overweight | Maintain | Nov 4, 2025 |
| Leerink Partners | Outperform | Outperform | Maintain | Jul 17, 2025 |
| B of A Securities | Neutral | Neutral | Maintain | Apr 21, 2025 |
| Goldman Sachs | Buy | Buy | Maintain | Jan 17, 2024 |
| Atlantic Equities | Neutral | Overweight | Downgrade | Aug 2, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | Aug 13, 2021 |
| Guggenheim | Neutral | Buy | Downgrade | Jul 12, 2021 |
| Stifel Nicolaus | Buy | Buy | Maintain | Jul 22, 2019 |
| Canaccord Genuity | Buy | Buy | Maintain | May 2, 2019 |
| Bank of America | Buy | Buy | Maintain | Nov 2, 2018 |
| PiperJaffray | Overweight | Overweight | Maintain | Jan 16, 2018 |
| Aegis Capital | Sell | Sell | Maintain | Jun 1, 2017 |
| CL King | Neutral | Neutral | Maintain | Apr 1, 2016 |
| Raymond James | Market Perform | Outperform | Downgrade | Aug 28, 2015 |
| Feltl & Co. | Hold | Sell | Upgrade | Jul 23, 2015 |
| Bank oferica | Buy | Buy | Maintain | Apr 20, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $569.77. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| UBS | Analyst unavailable | $620 | $559.86 | +8.8% | Jul 27, 2026 |
| UBS | Andrea Alfonso | $640 | $569.17 | +12.3% | Apr 28, 2026 |
| Piper Sandler | Analyst unavailable | $750 | $644.61 | +31.6% | Feb 9, 2026 |
| Barclays | Glen Santangelo | $800 | $642.94 | +40.4% | Feb 5, 2026 |
| UBS | Andrea Alfonso | $730 | $639.6 | +28.1% | Feb 3, 2026 |
| BTIG | Analyst unavailable | $800 | $639.6 | +40.4% | Feb 3, 2026 |
| Barclays | Glen Santangelo | $850 | $706.65 | +49.2% | Dec 8, 2025 |
| Morgan Stanley | Analyst unavailable | $805 | $721.04 | +41.3% | Nov 4, 2025 |
| UBS | Analyst unavailable | $750 | $722.94 | +31.6% | Nov 4, 2025 |
| BTIG | Analyst unavailable | $830 | $722.94 | +45.7% | Nov 4, 2025 |
| Jefferies | Keith Devas | $830 | $722.94 | +45.7% | Nov 4, 2025 |
| Leerink Partners | Analyst unavailable | $785 | $722.94 | +37.8% | Nov 3, 2025 |
| Stifel Nicolaus | Jonathan Block | $775 | $722.94 | +36.0% | Nov 3, 2025 |
| Stifel Nicolaus | Jonathan Block | $700 | $628.54 | +22.9% | Oct 31, 2025 |
| UBS | Andrea Alfonso | $720 | $638.89 | +26.4% | Oct 1, 2025 |
| Morgan Stanley | Analyst unavailable | $722 | $641.94 | +26.7% | Aug 5, 2025 |
| BTIG | Analyst unavailable | $785 | $641.94 | +37.8% | Aug 5, 2025 |
| Stifel Nicolaus | Analyst unavailable | $640 | $682.78 | +12.3% | Aug 4, 2025 |
| Stifel Nicolaus | Jonathan Block | $510 | $495.73 | -10.5% | Jun 24, 2024 |
| Barclays | Analyst unavailable | $590 | $507.68 | +3.6% | Feb 8, 2023 |
| J.P. Morgan | Analyst unavailable | $550 | $487.04 | -3.5% | Feb 7, 2023 |
| Atlantic Equities | Analyst unavailable | $600 | $485.53 | +5.3% | Feb 7, 2023 |
| Oppenheimer | Analyst unavailable | $247 | $483.2 | -56.6% | Feb 2, 2023 |
| Citigroup | Analyst unavailable | $268 | $483.2 | -53.0% | Feb 2, 2023 |
| Citigroup | Analyst unavailable | $273 | $420.63 | -52.1% | Dec 9, 2022 |
| Morgan Stanley | Analyst unavailable | $543 | $435.78 | -4.7% | Nov 15, 2022 |
| Stifel Nicolaus | Analyst unavailable | $500 | $355.62 | -12.2% | Jun 24, 2022 |
| Goldman Sachs | Analyst unavailable | $530 | $357.33 | -7.0% | May 19, 2022 |
| Barclays | Balaji Prasad | $700 | $364.5 | +22.9% | May 6, 2022 |
Track every rating change on IDXX the moment it posts. Free to start.
Start freeMarket reaction
prior-close to event-session close
Stock move
-0.0%
Event window
SPY move
+0.8%
Same window
Abnormal move
-0.8%
Stock minus SPY
Volume
1.4×
Versus trailing sessions
Subsequent drift
-0.4%
Up to 20 sessions
IDXXSPY benchmark
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Try FN2 freeTranscript intelligence
What changed
Revenue reached $1.14 billion, up 14% year-over-year (11% organic), beating the $1.12 billion consensus by approximately 2%. EPS of $3.47 exceeded the $3.41 estimate by 1.8%, growing 15% on a comparable basis. Management raised full-year guidance, a step up from the maintained posture in the prior quarter, where the initial 2026 outlook called for 7-9% revenue growth, 32-32.5% operating margin, and EPS of $14.29-$14.80. Premium instrument placements continued at a strong pace with 1,100 inVue Dx units in Q1, and international markets delivered double-digit growth with new Cancer DX launches in Europe and Australia. Two new headwinds not flagged in the prior quarter emerged: a $5 million loss on an equity investment that impacted Q1 earnings, and supply-chain disruptions in the Middle East affecting the Water business. The company also announced a leadership transition with Mike Erickson becoming CEO and Jay Mazelsky moving to Executive Chair.
Guidance delta
IDEXX raised its full-year fiscal 2026 outlook following the Q1 beat. The prior quarter (Q4 2025) guidance had projected 7-9% revenue growth, 32-32.5% operating margin, and EPS of $14.29-$14.80. The guidance sentiment shifted from maintained to raised, reflecting management's increased confidence after the strong first quarter. Specific updated numerical ranges were not detailed in the supplied transcript analysis, but the direction is clearly upward.
Key takeaways
- Q1 revenue rose 14% (11% organic) to $1.14 billion and EPS of $3.47 beat consensus by 1.8%, prompting raised full-year guidance.
- CAG Diagnostics recurring revenue ran 1,100 basis points ahead of declining U.S. clinical visits, demonstrating diagnostic intensity gains per visit.
- 1,100 inVue Dx placements in Q1 track toward a 5,500-unit annual target, extending the premium instrument installed base.
- International markets delivered double-digit growth, with Cancer DX launches in Europe and Australia expanding the global footprint.
- CEO transition announced: Mike Erickson to become CEO, Jay Mazelsky to Executive Chair.
Management priorities
- Achieve 5,500 total inVue Dx placements for 2026.
- Expand F&A rollout from controlled launch to unrestricted release later in the year.
- Grow Cancer DX menu with new tests, including mast cell tumor detection and a third test by end-2026.
- Scale DR50 PLUS imaging system deployments and continue cloud-native PIMS expansion.
- Release additional AI-driven software updates for inVue Dx and ezyVet platforms.
Related earnings events
HealthcareSources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-30T02:01:58.387158+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-30T02:01:58.384377+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.