IDEXX Highlights Diagnostics Growth Drivers, Cancer Testing at Morgan Stanley Conference

IDEXX Laboratories reiterated its long-term growth plan at the Morgan Stanley Global Healthcare Conference, emphasizing demand for veterinary diagnostics, product innovation, commercial investment, and the recurring-revenue model. CEO Mike Erickson said the company delivered an “exceptional Q2” and started the year strongly, leading it to raise full-year guidance in its second-quarter report. At an investor day, IDEXX reaffirmed targets of more than 10% organic growth and more than 15% earnings-per-share growth. The company expects about a 1.5% decline in clinical visits in the second half, but pointed to improvements in the intensity of care, including roughly a 50-basis-point annual increase in blood-work inclusion.