11 Best Medical Technology Stocks to Buy Right Now

9. IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Number of Hedge Fund Holders: 58

Stock Upside: 26.45%

IDEXX Laboratories, Inc. (NASDAQ:IDXX) is one of the best medical technology stocks to buy right now. On May 19, IDEXX Laboratories, Inc. (NASDAQ:IDXX) announced that its SDMA kidney biomarker will be built directly into Catalyst CLIPs. Catalyst CLIPs is the most widely used point-of-care chemistry profiles on the company’s Catalyst platform. IDEXX said this integration will roll out to customers in the United States and Canada starting next month.

SDMA, short for symmetric dimethylarginine, measures how efficiently the kidneys filter waste from the blood. Its key advantage over the traditional marker creatinine is that it can flag a kidney function decline as early as 25-40% loss. Contrarily, creatinine often doesn’t register a problem until up to 75% of kidney function is already gone, as per IDEXX.

The company added that previously, veterinarians who wanted SDMA data had to order it as a separate test. Now, the data will be embedded within the Chem 11, Chem 16, and Chem 18 Catalyst CLIPs profiles at no additional cost. The results will flow automatically into IDEXX’s VetConnect PLUS diagnostic data platform.

IDEXX’s CEO Mike Erickson spoke of the move as a scaling strategy, noting that “SDMA is a clear example of how IDEXX innovates by developing clinically relevant diagnostics and then scaling their impact through platforms veterinarians already use every day.”

IDEXX Laboratories, Inc. (NASDAQ:IDXX) is a medical technology company focused on diagnostic and information technology solutions for animal health. The company develops and sells veterinary diagnostic instruments, laboratory services, rapid test kits, and software platforms used by veterinary clinics and hospitals worldwide.