Idexx Laboratories Stock Trying To Close In On Key Technical Rating After 200% Run In A Year

People have relied more on pets to provide companionship during the pandemic, which has lifted shares of Idexx Laboratories, a pet health care provider. On Wednesday, the Relative Strength (RS) Rating for Idexx Laboratories (IDXX) climbed to 71, up from 68 the day before.


A 71 RS Rating means the company has outperformed 71% of all stocks over the past year. Top-performing stocks often have an 80 or higher RS Rating in the early stages of their moves. See if Idexx Laboratories can continue to show renewed price strength and clear that threshold.

Other Idexx Ratings Shine

However, some of its other key ratings are outstanding. For example, it has a near-best 98 EPS Rating, on a 1-99 scale with 99 tops. Similarly, its 94 Composite Rating is exceptional.

IBD’s Composite Rating combines five separate proprietary ratings of fundamental and technical performance into one easy-to-use rating. The best growth stocks have a Composite Rating of 90 or better.

In terms of fundamentals, the Westbrook, Maine-based company saw both earnings and sales growth rise last quarter. On May 4 Idexx announced that first quarter earnings-per-share shot up 73% to $2.09. The prior three periods its EPS grew 20%, 56% and then 43%. Revenue in its most recent quarter rose 24% to $777.7 million.

“We also continue to drive exceptional performance in our global reference lab business, supported by higher growth in international markets leveraging our IDEXX 360 program,” CEO Jay Mazelsky said in the earnings news release.

Idexx shares were down 3.3% Wednesday afternoon, to 510.70. However, its stock has more than tripled from a late March 2020 low of 168.65.

The company holds the No. 3 rank among its peers in the Medical-Systems/Equipment industry group. Waters (WAT) and Idexx Laboratories (IDXX) are also among the group’s highest-rated stocks.

Looking For Winning Stocks? Try This Simple Routine

Idexx Laboratories is working on a cup with handle with a 561.62 entry. See if the stock can break out in heavy trading.

When you’re researching the best stocks to buy and watch, keep a close on eye on relative price strength.

IBD’s proprietary RS Rating tracks market leadership by showing how a stock’s price action over the last 52 weeks compares to that of the other stocks in our database.


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