ab 27 July 2026 Global Research US Healthcare 2Q Animal Health Preview: Sentiment, Setups and Signposts UBS Call: Into the quarter, we see the cleanest positive risk/reward in ELAN, where accelerating US Pet Health momentum through May and positive Quattro diligence (see our late May vet expert call and survey work below) support another top- line-led beat-and-raise despite lingering tariff-related gross margin noise. IDXX looks more de-risked than compelling: a CAG recurring revenue beat (which we believe ...