Piper Sandler Raises IDEXX Laboratories (IDXX) PT to $700, Cites Strong Q2 Results

IDEXX Laboratories Inc. (NASDAQ:IDXX) is one of the best performing S&P 500 stocks to buy now. On August 11, Piper Sandler raised the firm’s price target on Idexx Laboratories to $700 from $510 following the company’s Q2 2025 financial results. The firm kept a Neutral rating on the shares.

IDEXX Laboratories reported total revenues of $1,109 million in Q2, which was an increase of 11% as reported and 9% organically, compared to the prior year. This was driven by a strong performance from its Companion Animal Group/CAG and Water segments, which saw revenue increases of 11% and 9% as reported, respectively.

Piper Sandler Raises IDEXX Laboratories (IDXX) PT to $700, Cites Strong Q2 Results

A veterinarian in a veterinary clinic examining a companion animal.

Within the Companion Animal Group, IDEXX VetLab consumables revenue grew by 15% as reported and 14% organically. The company also saw a 66% reported increase in CAG Diagnostics capital instrument revenues, driven by record placements of its new IDEXX InVue Dx instrument. Rapid assay products revenues, however, declined by 3% as both reported and organic, as some testing shifted to new modalities.

IDEXX Laboratories Inc. (NASDAQ:IDXX) develops, manufactures, and distributes products for the companion animal veterinary, livestock and poultry, dairy, and water testing industries in the US and internationally.

While we acknowledge the potential of IDXX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than IDXX and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.