#6 - IDEXX Laboratories (NASDAQ:IDXX)
The last two companies on the list have to do with the convergence of pet care and food stocks. The first of the two is IDEXX Laboratories (NASDAQ:IDXX). IDEXX is divided into several business units. These include small animal diagnostics, a reference laboratory and diagnostic services, veterinary practice management, water quality, diagnostic testing, and software monitoring for managing the herd and flock health and productivity, and bioanalytics.
And in 2020, the stock has even become a sneaky Covid-19 stock. The company’s Opti Medical Systems unit has received Emergency Use Authorization (EUA) from the FDA for its Covid-19 test kit.
All of which means that despite the stock being up 80% for the year, analysts give the stock a price target that suggests the IDXX stock may climb over 15% from its current level. And for its part, the company just delivered an earnings report in which they beat estimates on both the top and bottom lines.
About IDEXX Laboratories
IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.
Read More - Current Price
- $420.91
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 7 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $552.38 (31.2% Upside)
