IDEXX Laboratories, Inc. (IDXX) is a dominant player in the reference lab and point-of-care veterinary diagnostic spaces, and the company is continuing to grow organically with significant amount of margin leverage and strong cash flow, says Nicholas Jansen, Analyst at Raymond James & Associates, Inc.
“We like IDEXX as well from a long-term standpoint. They certainly have a great portfolio of assets, and they’re growing organically in the mid- to high single-digits with significant amount of margin leverage over the next three years to five years, which should drive midteens EPS growth during that timeframe,” Jansen said.
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Being a dominant player in the reference lab space with over $300 million of reference lab revenue, and taking up approximately 80% of the market share in point-of-care diagnostics segments, IDXX is looking for strong cash flow to drive EPS growth in the future, Jansen says.
“If you have a longer-term time horizon, I think IDEXX fits that nice little mold of great management, good products, margin expansion and strong cash flow to drive improved EPS growth year over year for the next couple of years,” Jansen said.
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