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Reasons Why Hedge Funds Still Fancy IDEXX Laboratories, Inc. (IDXX)

IDEXX Laboratories, Inc. (NASDAQ:IDXX) is one of the 10 best healthcare equipment stocks to buy according to hedge funds.

On February 9, David Westenberg from Piper Sandler maintained his Overweight rating on IDEXX Laboratories, Inc. (NASDAQ:IDXX). The analyst reduced the target price from $775 to $750, which results in a revised upside of 18%. Westenberg’s downward revision of the price target is based on Piper Sandler’s updated multiple for the stock. It also incorporates 2026 projections that have been rolled forward into 2027.

On February 3, the price target on IDEXX Laboratories, Inc. (NASDAQ:IDXX) was decreased from $830 to $800 by BTIG analyst Mark Massaro. The analyst maintained an Overweight rating on the stock, which yields almost 26% upside potential following the adjustment.

Massaro reflected on the company’s fourth quarter outperformance in terms of revenues and profitability. He also noted the management’s 2026 guidance, which fueled some disappointment. More precisely, the outlook for pet visits remained below consensus estimates. Management has projected it to drop by 200 basis points during 2026.

IDEXX Laboratories, Inc. (NASDAQ:IDXX) develops and sells diagnostic products for animal veterinary, livestock, and poultry, and water microbiology testing. With operations across 175 countries worldwide, the company covers in-clinic chemistry, hematology, immunoassay, urinalysis, and coagulation analyzers. It aims to derive recurring revenues with high margins by placing diagnostic instruments for tests and consumables within veterinary clinics.

While we acknowledge the risk and potential of IDXX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than IDXX and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 15 Most Promising Mid-Cap Healthcare Stocks Under $50 and 11 Most Promising Small-Cap Industrial Stocks Under $50.

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

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Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

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Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

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