Former State Street CEO Jay Hooley joins IDEXX board of directors

WESTBROOK, Maine - IDEXX Laboratories, Inc. (NASDAQ:IDXX) announced Thursday the election of Joseph L. (Jay) Hooley to its Board of Directors, effective July 10, 2025.

Hooley, the former Chair and CEO of State Street Corporation, brings financial leadership experience from his nearly 20-year tenure at State Street, where he served as Chair from 2011 to 2019 and CEO from 2010 to 2018.

"We are excited to welcome Jay to the IDEXX Board of Directors," said Lawrence D. Kingsley, IDEXX’s Independent Non-Executive Board Chair, in a press release statement.

Hooley currently serves on the boards of Exxon Mobil Corporation, where he is the lead independent director, and Aptiv PLC. He holds a bachelor’s degree from Boston College.

With Hooley’s addition, the IDEXX Board now consists of ten directors, with nine being independent members.

IDEXX Laboratories identifies itself as a provider of pet healthcare innovation, offering diagnostic and software products for the veterinary industry. The company, headquartered in Maine, employs approximately 11,000 people globally and is a member of the S&P 500 Index.

In other recent news, IDEXX Laboratories reported first-quarter 2025 earnings that slightly exceeded expectations, with adjusted earnings per share at $2.88 compared to Stifel’s estimate of $2.85. Stifel has increased its price target for IDEXX to $540 while maintaining a Hold rating, noting IDEXX’s elevated valuation. Jefferies initiated coverage on IDEXX with a Buy rating and a $625 price target, citing anticipated growth in the veterinary diagnostics market as pets acquired during the pandemic reach prime testing age. The firm expects IDEXX to achieve 6-7% organic sales growth in the interim. Leerink Partners reiterated an Outperform rating, raising the price target to $580, highlighting the successful launch of the InVue Dx diagnostic console as a key growth driver. The firm anticipates this product will significantly contribute to IDEXX’s Companion Animal Group Diagnostics revenue growth. Meanwhile, BTIG increased its price target to $545, maintaining a Buy rating, and noted IDEXX’s 9% year-over-year growth in high-margin consumables and software segments. Improvements in gross and operating margins were also reported, attributed partly to favorable currency exchange rates and other factors.

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