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Why IDEXX Stock Popped Today

Why IDEXX Stock Popped Today

Shares of IDEXX Laboratories (NASDAQ: IDXX) were moving higher today after the veterinary healthcare company posted better-than-expected results in its third-quarter earnings but slashed its full-year earnings guidance due to the stronger dollar and higher interest rates. The company said overall revenue was up 4% in the quarter to $841.7 million, but organic sales, which adjust for currency headwinds, increased 8%. Organic revenue in U.S. pet diagnostics, its biggest business segment, was up 10%, and the company saw 14% growth in its global premium installed instrument base, which bodes well for future sales.