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IDEXX Laboratories, Inc. (IDXX - Free Report) recently expanded its Fecal Dx antigen testing platform with the addition of Cystoisospora — a common intestinal parasite that is the source of diarrhea, weight loss and dehydration — primarily in young dogs and cats. Fecal Dx antigen testing with Cystoisospora will be offered at IDEXX Reference Laboratories in March in North America and globally in third-quarter 2024.
The recent development will bolster IDEXX’s Livestock, Poultry and Dairy (LPD) business.
More on Fecal Antigen Test
IDEXX's Fecal Dx antigen testing detects the most prevalent and clinically relevant intestinal parasites in dogs and cats, including hookworms, roundworms, whipworms, flea tapeworms and, shortly, Cystoisospora.
Fecal Dx antigen testing remains a core tool for veterinary operations, removing the need for time-consuming fecal flotation testing and redeploying staff time to patient and client care.
The IDEXX FecalChek Home Collection Kit is a convenient submission solution for veterinarians, allowing pet owners to collect and send in their pet's fecal specimen for intestinal parasite screening. IDEXX's communication resources, in addition to the IDEXX FecalChek kit, assist veterinarians in discussing the need for fecal testing to promote increased pet owner compliance and better patient outcomes.
Image Source: Zacks Investment Research
The addition of Fecal Dx antigen testing detects up to five times more infections than flotation tests alone by recognizing parasite-specific antigens rather than depending on the presence of eggs.
Benefits of Fecal Dx Antigen Test
Fecal Dx antigen testing, with its industry-leading antigen detection capabilities, identifies infections sooner than other testing modalities, allowing veterinarians to establish focused treatment and prevention regimens confidently.
Per management, IDEXX is excited to announce the second extension of the Fecal Dx antigen testing platform in less than two years, further demonstrating its commitment to continual innovation. For intestinal parasites, which afflict one in every five dogs, early detection is critical. IDEXX’s highly distinct antigen testing platform, which will soon include Cystoisospora, provides a comprehensive solution that accurately detects the most clinically relevant diseases.
Industry Prospects
Per a report by Grand View Research, the global veterinary diagnostics market size was valued at $7.30 billion in 2022 and is expected to witness a CAGR of 11.2% by 2030. Growth in this market is attributed to various factors, such as increased expenditures on animal health, rising incidence of zoonotic diseases, number of veterinary practitioners, technological advancement in point-of-care diagnostics and increasing disposable income levels in developing regions. The growing incidence of infectious animal ailments is further poised to augment the demand for veterinary diagnostics.
Progress Within the Testing Platform
In November 2023, IDEXX 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’s 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 some areas of the world, the SNAP Leish 4Dx Test supports vector-borne disease diagnosis globally.
In June 2023, IDEXX launched its first veterinary diagnostic test, IDEXX Cystatin B, for detecting kidney injury in cats and dogs. This can help veterinary professionals spot kidney damage before it affects kidney function and may result in better patient outcomes.
Price Performance
In the past year, IDXX’s shares have gained 11.7% compared with the industry’s rise of 0.1%.
Haemonetics’ earnings estimates have remained constant at $3.89 in 2023 and at $4.15 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 5.3%.
Estimates for DaVita’s 2023 earnings per share have remained constant at $8.07 in the past 30 days.
DVA’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 36.6%. In the last reported quarter, it delivered an average earnings surprise of 48.4%.
Estimates for HealthEquity’s 2023 earnings per share have increased from $2.03 to $2.15 in the past 30 days.
HQY’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 16.5%. In the last reported quarter, it delivered an average earnings surprise of 22.5%.
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IDEXX (IDXX) Enhances Fecal Dx Antigen Testing Platform
IDEXX Laboratories, Inc. (IDXX - Free Report) recently expanded its Fecal Dx antigen testing platform with the addition of Cystoisospora — a common intestinal parasite that is the source of diarrhea, weight loss and dehydration — primarily in young dogs and cats. Fecal Dx antigen testing with Cystoisospora will be offered at IDEXX Reference Laboratories in March in North America and globally in third-quarter 2024.
The recent development will bolster IDEXX’s Livestock, Poultry and Dairy (LPD) business.
More on Fecal Antigen Test
IDEXX's Fecal Dx antigen testing detects the most prevalent and clinically relevant intestinal parasites in dogs and cats, including hookworms, roundworms, whipworms, flea tapeworms and, shortly, Cystoisospora.
Fecal Dx antigen testing remains a core tool for veterinary operations, removing the need for time-consuming fecal flotation testing and redeploying staff time to patient and client care.
The IDEXX FecalChek Home Collection Kit is a convenient submission solution for veterinarians, allowing pet owners to collect and send in their pet's fecal specimen for intestinal parasite screening. IDEXX's communication resources, in addition to the IDEXX FecalChek kit, assist veterinarians in discussing the need for fecal testing to promote increased pet owner compliance and better patient outcomes.
The addition of Fecal Dx antigen testing detects up to five times more infections than flotation tests alone by recognizing parasite-specific antigens rather than depending on the presence of eggs.
Benefits of Fecal Dx Antigen Test
Fecal Dx antigen testing, with its industry-leading antigen detection capabilities, identifies infections sooner than other testing modalities, allowing veterinarians to establish focused treatment and prevention regimens confidently.
Per management, IDEXX is excited to announce the second extension of the Fecal Dx antigen testing platform in less than two years, further demonstrating its commitment to continual innovation. For intestinal parasites, which afflict one in every five dogs, early detection is critical. IDEXX’s highly distinct antigen testing platform, which will soon include Cystoisospora, provides a comprehensive solution that accurately detects the most clinically relevant diseases.
Industry Prospects
Per a report by Grand View Research, the global veterinary diagnostics market size was valued at $7.30 billion in 2022 and is expected to witness a CAGR of 11.2% by 2030. Growth in this market is attributed to various factors, such as increased expenditures on animal health, rising incidence of zoonotic diseases, number of veterinary practitioners, technological advancement in point-of-care diagnostics and increasing disposable income levels in developing regions. The growing incidence of infectious animal ailments is further poised to augment the demand for veterinary diagnostics.
Progress Within the Testing Platform
In November 2023, IDEXX 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’s 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 some areas of the world, the SNAP Leish 4Dx Test supports vector-borne disease diagnosis globally.
In June 2023, IDEXX launched its first veterinary diagnostic test, IDEXX Cystatin B, for detecting kidney injury in cats and dogs. This can help veterinary professionals spot kidney damage before it affects kidney function and may result in better patient outcomes.
Price Performance
In the past year, IDXX’s shares have gained 11.7% compared with the industry’s rise of 0.1%.
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) , DaVita (DVA - Free Report) and HealthEquity (HQY - Free Report) . Haemonetics and HealthEquity each presently carry a Zacks Rank #2 (Buy), and DaVita sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Haemonetics’ earnings estimates have remained constant at $3.89 in 2023 and at $4.15 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 5.3%.
Estimates for DaVita’s 2023 earnings per share have remained constant at $8.07 in the past 30 days.
DVA’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 36.6%. In the last reported quarter, it delivered an average earnings surprise of 48.4%.
Estimates for HealthEquity’s 2023 earnings per share have increased from $2.03 to $2.15 in the past 30 days.
HQY’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 16.5%. In the last reported quarter, it delivered an average earnings surprise of 22.5%.