Is IDEXX Laboratories Stock Outperforming the S&P 500?

IDEXX Laboratories, Inc. (IDXX) is a Westbrook, Maine-based leader in veterinary diagnostics, software, and water testing solutions. Valued at a market cap of $45.7 billion, the company develops and supplies diagnostic instruments, test kits, software, and laboratory services that help veterinarians, farmers, and laboratories detect diseases and monitor animal health.

Companies worth $10 billion or more are typically classified as “large-cap stocks,” and IDXX fits the label perfectly. IDEXX is widely regarded as a market leader in veterinary diagnostics, benefiting from strong brand recognition, a large installed base of diagnostic instruments in veterinary clinics, and a recurring revenue model driven by consumables and testing services. Its solutions are used by veterinary practices in more than 175 countries, giving the company a strong global presence.