#4 - IDEXX Laboratories (NASDAQ:IDXX)
IDEXX Laboratories Inc. (NASDAQ: IDXX) is a way for you to invest in the growing pet care sector. IDEXX manufactures drugs for domestic animals, livestock, and poultry. A key growth driver for IDEXX is its point-of-care diagnostic testing, which allows veterinary professionals to gain more and deeper insights while they have an animal on site.
IDEXX stock is down 24.3% in 2024 and 6.9% in the week following its Q3 2024 earnings report. The company beat on the top and bottom lines and its number were higher year-over-year.
However, the company lowered its guidance on concerns over the demand for veterinary care. There are also concerns about the company’s valuation (it currently trades at around 40x forward earnings).
Two analysts have lowered their price targets since the earnings report was released. However, the stock is still considered a Moderate Buy with a consensus target of $552.38, which would be a 32% upside.
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)
