5 Best Cancer Stocks to Buy for the Long Term

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

Number of Hedge Fund Holders: 58

IDEXX Laboratories, Inc. (NASDAQ:IDXX) is one of the best cancer stocks.

TheFly reported on May 5 that IDXX saw its valuation outlook reduced as BofA Securities lowered its price target to $660 from $790 while maintaining a Neutral stance on the stock. The firm acknowledged that first-quarter results reflected solid operational performance despite difficult market conditions. However, it expressed uncertainty regarding the durability of broader macroeconomic trends and the pace of inVue system installations for the remainder of the year. The commentary also pointed to slightly weaker than expected placements in the first quarter and ongoing pressure from a challenging operating environment, which contributed to the revised outlook.

In addition to that, IDEXX Laboratories, Inc. (NASDAQ:IDXX) updated its fiscal 2026 outlook on the same day, raising expected reported revenue growth to 8.6%–10.6%. It also projected CAG Diagnostics recurring revenue growth of 9.6%–11.6% on a reported basis and 8.7%–10.7% organically, alongside overall organic revenue growth of 7.7%–9.7%. Consensus estimates for FY26 stand at about $4.68 billion in revenue and $14.51 in EPS, reflecting expectations tied to steady demand in its diagnostics business.

IDEXX Laboratories, Inc. (NASDAQ:IDXX) is a global leader in veterinary diagnostics based in Westbrook. It develops advanced cancer detection tests for animals, including blood-based screening that can help detect cancers like lymphoma early, often months before symptoms appear.