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IDEXX's (IDXX) Upcoming Launch to Detect Canine Leishmaniosis
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IDEXX Laboratories, Inc. (IDXX - Free Report) recently announced the upcoming launch of the SNAP Leish 4Dx Test — a comprehensive screening test for vector-borne diseases, including canine leishmaniosis. The test will be available in Europe and Asia starting February 2024.
IDEXX provides diagnostic capabilities that meet veterinarians’ diverse needs through the CAG (Companion Animal Group) Diagnostics segment. The latest development demonstrates the company’s commitment to expanding the vector-borne disease offering to support veterinarians worldwide in their mission to deliver a higher standard of care for pets.
Significance of the News
Parasites and vector-borne diseases like leishmaniosis are an increasing risk to pets’ health globally. Commonly found in the tropical and subtropical regions of Europe, Asia, Africa and South and Central America, the zoonotic disease is transmitted by sand flies to dogs living in or traveling to these endemic regions.
Image Source: Zacks Investment Research
However, the disease could be potentially fatal if left untreated. With the chances of one in 10 dogs testing positive in Leishmania-endemic areas globally (according to IDEXX’s cited data), the infected dogs can remain asymptomatic for months to years. This makes leishmaniosis an essential component of annual wellness screens.
News in Detail
IDEXX’ SNAP Leish 4Dx Test uses the trusted SNAP 4Dx Plus testing platform, which detects Lyme disease, heartworm disease, ehrlichiosis and anaplasmosis. By replacing Lyme disease detection with the detection of leishmaniosis, which is a more prevalent endemic disease in certain regions of the world, the SNAP Leish 4Dx Test supports vector-borne disease diagnosis globally.
The rapid diagnostic test provides veterinarians with an end-to-end solution for vector-borne disease testing, including the ability to screen for heartworm disease, ehrlichiosis, anaplasmosis and leishmaniosis with a single sample during the patient visit. It also offers streamlined reference laboratory follow-up testing for the quantification of SNAP positives and the opportunity to perform additional follow-up testing in the clinic or at IDEXX Reference Laboratories.
In addition, the Test checks compatibility with the SNAP Pro Analyzer, which supports an efficient practice workflow by automatically activating and interpreting test results and facilitating seamless charge capture. Ongoing support and education are also offered to keep veterinary staff up-to-date with the latest resources to help protect pets and their families.
Industry Prospects
Per a Research report, the Leishmaniasis treatment market is expected to witness a CAGR of 8.4% up to 2029.
Strong Prospects of the CAG Segment
Diagnostics has remained one of the fastest-growing areas of the veterinary clinic since the determination of a patient's health status, and the best treatment path very often requires testing. The company’s long-term success in the continuing growth of CAG recurring diagnostic products and services depends on growing volumes at existing customers by increasing their utilization of existing and new test offerings, acquiring new customers, maintaining high customer loyalty and retention and realizing modest annual price increases.
In the third quarter of 2023, IDEXX's CAG Diagnostics recurring revenues increased 9% organically, which remained solidly above sector growth levels. The results, supported by the sustained benefits of execution drivers, reflected high-single-digit organic revenue growth in the United States, while international regions posted double-digit organic growth.
Price Performance
In the past year, shares of IDEXX have increased 0.2% against the industry’s decline of 11.7%.
Haemonetics’ stock has risen 10.9% in the past year. Earnings estimates for Haemonetics have increased from $3.82 to $3.86 in 2023 and $4.07 to $4.11 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 16.1%. In the last reported quarter, it posted an earnings surprise of 5.32%.
Estimates for Insulet’s 2023 earnings per share have increased from $1.85 to $1.90 in the past seven days. Shares of the company have decreased 46.6% in the past year compared with the industry’s decline of 10.5%.
PODD’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 105.1%. In the last reported quarter, it delivered an average earnings surprise of 77.5%.
Estimates for DexCom’s 2023 earnings per share have increased from $1.23 to $1.41 in the past 30 days. Shares of the company have fallen 16.8% in the past year compared with the industry’s decline of 11.8%.
DXCM’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 36.4%. In the last reported quarter, it delivered an average earnings surprise of 47.1%.
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IDEXX's (IDXX) Upcoming Launch to Detect Canine Leishmaniosis
IDEXX Laboratories, Inc. (IDXX - Free Report) recently announced the upcoming launch of the SNAP Leish 4Dx Test — a comprehensive screening test for vector-borne diseases, including canine leishmaniosis. The test will be available in Europe and Asia starting February 2024.
IDEXX provides diagnostic capabilities that meet veterinarians’ diverse needs through the CAG (Companion Animal Group) Diagnostics segment. The latest development demonstrates the company’s commitment to expanding the vector-borne disease offering to support veterinarians worldwide in their mission to deliver a higher standard of care for pets.
Significance of the News
Parasites and vector-borne diseases like leishmaniosis are an increasing risk to pets’ health globally. Commonly found in the tropical and subtropical regions of Europe, Asia, Africa and South and Central America, the zoonotic disease is transmitted by sand flies to dogs living in or traveling to these endemic regions.
Image Source: Zacks Investment Research
However, the disease could be potentially fatal if left untreated. With the chances of one in 10 dogs testing positive in Leishmania-endemic areas globally (according to IDEXX’s cited data), the infected dogs can remain asymptomatic for months to years. This makes leishmaniosis an essential component of annual wellness screens.
News in Detail
IDEXX’ SNAP Leish 4Dx Test uses the trusted SNAP 4Dx Plus testing platform, which detects Lyme disease, heartworm disease, ehrlichiosis and anaplasmosis. By replacing Lyme disease detection with the detection of leishmaniosis, which is a more prevalent endemic disease in certain regions of the world, the SNAP Leish 4Dx Test supports vector-borne disease diagnosis globally.
The rapid diagnostic test provides veterinarians with an end-to-end solution for vector-borne disease testing, including the ability to screen for heartworm disease, ehrlichiosis, anaplasmosis and leishmaniosis with a single sample during the patient visit. It also offers streamlined reference laboratory follow-up testing for the quantification of SNAP positives and the opportunity to perform additional follow-up testing in the clinic or at IDEXX Reference Laboratories.
In addition, the Test checks compatibility with the SNAP Pro Analyzer, which supports an efficient practice workflow by automatically activating and interpreting test results and facilitating seamless charge capture. Ongoing support and education are also offered to keep veterinary staff up-to-date with the latest resources to help protect pets and their families.
Industry Prospects
Per a Research report, the Leishmaniasis treatment market is expected to witness a CAGR of 8.4% up to 2029.
Strong Prospects of the CAG Segment
Diagnostics has remained one of the fastest-growing areas of the veterinary clinic since the determination of a patient's health status, and the best treatment path very often requires testing. The company’s long-term success in the continuing growth of CAG recurring diagnostic products and services depends on growing volumes at existing customers by increasing their utilization of existing and new test offerings, acquiring new customers, maintaining high customer loyalty and retention and realizing modest annual price increases.
In the third quarter of 2023, IDEXX's CAG Diagnostics recurring revenues increased 9% organically, which remained solidly above sector growth levels. The results, supported by the sustained benefits of execution drivers, reflected high-single-digit organic revenue growth in the United States, while international regions posted double-digit organic growth.
Price Performance
In the past year, shares of IDEXX have increased 0.2% against the industry’s decline of 11.7%.
Zacks Rank and Key Picks
IDEXX currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Haemonetics (HAE - Free Report) , Insulet (PODD - Free Report) and DexCom (DXCM - Free Report) . While Haemonetics and DexCom each carry a Zacks Rank #2 (Buy), Insulet presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Haemonetics’ stock has risen 10.9% in the past year. Earnings estimates for Haemonetics have increased from $3.82 to $3.86 in 2023 and $4.07 to $4.11 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 16.1%. In the last reported quarter, it posted an earnings surprise of 5.32%.
Estimates for Insulet’s 2023 earnings per share have increased from $1.85 to $1.90 in the past seven days. Shares of the company have decreased 46.6% in the past year compared with the industry’s decline of 10.5%.
PODD’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 105.1%. In the last reported quarter, it delivered an average earnings surprise of 77.5%.
Estimates for DexCom’s 2023 earnings per share have increased from $1.23 to $1.41 in the past 30 days. Shares of the company have fallen 16.8% in the past year compared with the industry’s decline of 11.8%.
DXCM’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 36.4%. In the last reported quarter, it delivered an average earnings surprise of 47.1%.