Keyword: Idexx Laboratories
Judging from IDEXX’s third-quarter earnings, it’s reaping the rewards from being an early mover in the rapidly growing market for animal diagnostics.
Shares of animal health companies are outperforming the stock market as a whole, thanks largely to strong performances from companies like diagnostics maker IDEXX Laboratories, veterinary hospital chain VCA and drugmaker Zoetis.
Shares of diagnostics maker IDEXX Laboratories soared nearly 14% on August 2, after the Maine-based company announced better-than-expected sales and earnings, and strong demand for its tests that help veterinarians quickly spot health problems in dogs and cats.
Animal diagnostics makes its debut on this year’s list of top animal health companies with IDEXX Laboratories, a company that’s enjoying strong demand for a suite of products designed to help veterinarians rapidly diagnose health conditions.
Most of IDEXX Laboratories' revenues come from the rapidly growing animal health industry, so CEO Jonathan Ayers focused his entire presentation at the J.P. Morgan Healthcare Conference on that segment of the market, livening up his financial estimates with colorful slides featuring playful dogs and cats.