IDXX - IDEXX Labs In The Hot Seat: Analyst Forewarns Dwindling Vet Visits Amid Macro Headwinds Ahead | Benzinga

Stifel analyst Jonathan D. Block reiterated a Hold rating on IDEXX Laboratories, Inc. (NASDAQ: IDXX), lowering the price target to $500 from $525.

IDEXX is capturing market share across multiple modalities, international momentum generally is increasing, and diagnostics in the veterinary office will likely continue to play an increasingly important role, notes the analyst. 

However, the analyst's survey diligence points to vet visit growth under pressure, and the analyst believes that ongoing practice capacity constraints may prevent near-term volume improvements. 

At the same time, further macro deterioration could exacerbate the current challenges, Block cautioned.

The analyst adds that IDEXX's 2024 CAG Dx Full story available on Benzinga.com