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If You Invested $1000 in Idexx Laboratories 10 Years Ago, This Is How Much You'd Have Now

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  • IDXX

For most investors, how much a stock's price changes over time is important. Not only can it impact your investment portfolio, but it can also help you compare investment results across sectors and industries.

FOMO, or the fear of missing out, also plays a role in investing, particularly with tech giants and popular consumer-facing stocks.

What if you'd invested in Idexx Laboratories (IDXX) ten years ago? It may not have been easy to hold on to IDXX for all that time, but if you did, how much would your investment be worth today?

Idexx Laboratories' Business In-Depth

With that in mind, let's take a look at Idexx Laboratories' main business drivers.

Headquartered in Delaware NJ, IDEXX Laboratories, Inc. is a developer, manufacturer and distributer of products and services primarily for the companion animal veterinary, livestock and poultry, water testing and dairy markets. The company also sells a series of portable electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market.

IDEXX operates through four segments:

Companion Animal Group (CAG) (88.1% of revenues in 2020, up 12.6% from 2019): This segment provides veterinarians with diagnostic capabilities and information management solutions that enhance the health and well-being of pets. The complementary nature of these products and services provides a unique competitive advantage known as the IDEXX Diagnostic Advantage, providing vets with tools and services necessary to offer advanced veterinary medical care.

Water (4.8%, down 3.2 %): Through this segment, IDEXX provides innovative testing solutions for easy, rapid and accurate detection and quantification of various microbiological parameters in water, helping to ensure water safety for people around the world.

Livestock, Poultry and Dairy (LPD) (5.4%, up 10%): Within this segment, IDEXX provides diagnostic tests and related instrumentation required to manage the health status of livestock and poultry, to improve bovine reproductive efficiency, and to ensure the quality and safety of milk and food. These products are purchased by government and private laboratories that provide testing services to cattle, swine and poultry veterinarians, producers and processors. this segment).

Other (1.7%, up 108.7%): The company’s OPTI Medical operating segment has been combined and presented with the remaining pharmaceutical product line and the out-licensing arrangements in an ‘Other’ category, primarily because they do not meet the quantitative or qualitative thresholds for reportable segments.

Bottom Line

Anyone can invest, but building a successful investment portfolio takes a combination of a few things: research, patience, and a little bit of risk. So, if you had invested in Idexx Laboratories a decade ago, you're probably feeling pretty good about your investment today.

A $1000 investment made in October 2011 would be worth $17,646.80, or a gain of 1,664.68%, as of October 29, 2021, according to our calculations. This return excludes dividends but includes price appreciation.

In comparison, the S&P 500 gained 257.67% and the price of gold went up -0.91% over the same time frame.

Looking ahead, analysts are expecting more upside for IDXX.

IDEXX exited the second quarter of 2021 with better-than-expected results. Solid organic-revenue growth is encouraging. The top line in the quarter was driven by strong sales at the CAG, LPD and Water businesses. The company witnessed sturdy gains in CAG Diagnostics’ recurring revenues, supported by sustained strong global trends in pet healthcare in the quarter under review. Further, veterinary software, services and diagnostic imaging systems revenues grew strongly. The acquisition of ezyVet also contributed to growth. The raised 2021 outlook is indicative that this bullish momentum will continue through the rest of the year. Over the past six months, IDEXX has outperformed its industry. Yet, contraction of gross margin and escalating operating costs are discouraging. A weak capital structure and foreign exchange headwind remain concerns.

Over the past four weeks, shares have rallied 5%, and there have been 1 higher earnings estimate revisions in the past two months for fiscal 2021 compared to none lower. The consensus estimate has moved up as well.
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