We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
IDEXX Laboratories Global Growth Solid amid Currency Woes
Read MoreHide Full Article
On May 29, we issued an updated research report on leading molecular diagnostic company, IDEXX Laboratories, Inc. (IDXX - Free Report) . The stock currently has a Zacks Rank #2 (Buy).
In the last three months, IDEXX Laboratories has been trading above the Zacks categorized Medical - Instruments industry. The company’s better-than-expected first-quarter 2017 performance has bolstered market confidence leading to a further rally in the share price.
We expect this bullish trend to continue in the days ahead. As per the last share price movement, the stock has gained 15.7% in the period, significantly ahead of the broader industry’s gain of 7.6%.
We are encouraged to note that IDEXX continues to demonstrate solid global growth on strong international expansion. International revenues in the first quarter of 2017 grew low double digits organically driven by a 17% organic rise in CAG Diagnostics recurring revenues. This reflected continued consumable revenue gains supported by strong Catalyst instrument customer base and average testing utilization.
IDEXX derives the lion’s share of its revenues from its Companion Animal Group segment (CAG). In the first quarter, CAG revenues rose double digits on a year-over-year basis, supported by CAG Diagnostics recurring organic as well as CAG instrument revenue growth.
Also, we are optimistic about the company’s recent inclusion in the NASDAQ-100 Index, the NASDAQ-100 Equal Weighted Index and the NASDAQ-100 Ex Technology Index. It has also been listed under the coveted S&P 500 which proves that the company has been performing consistently well over the past few years.
On the flip side, foreign exchange headwinds continue to remain a major dampener for the company’s international performance. Moreover, a competitive landscape in the overseas market weighs on IDEXX. Also, over the last three months, a comparative study of the company’s forward P/E (F12M basis) multiple reflected that the stock has been quite overvalued as compared to the broader industry.
Other Key Picks
Other top-ranked stocks in the broader medical sector are Luminex Corporation , Inogen, Inc. (INGN - Free Report) and Edwards Lifesciences Corporation (EW - Free Report) . Notably, Luminex and Inogen sport a Zacks Rank #1 (Strong Buy), while Edwards Lifesciences carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Luminex has an expected long-term adjusted earnings growth of almost 16.3%. The stock added roughly 8.9% over the last three months.
Inogen has a long-term expected earnings growth rate of 17.5%. The stock has a solid one-year return of roughly 84.2%.
Edwards Lifesciences has a long-term expected earnings growth rate of 15.2%. The stock added roughly 22% over the last three months.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
IDEXX Laboratories Global Growth Solid amid Currency Woes
On May 29, we issued an updated research report on leading molecular diagnostic company, IDEXX Laboratories, Inc. (IDXX - Free Report) . The stock currently has a Zacks Rank #2 (Buy).
In the last three months, IDEXX Laboratories has been trading above the Zacks categorized Medical - Instruments industry. The company’s better-than-expected first-quarter 2017 performance has bolstered market confidence leading to a further rally in the share price.
We expect this bullish trend to continue in the days ahead. As per the last share price movement, the stock has gained 15.7% in the period, significantly ahead of the broader industry’s gain of 7.6%.
We are encouraged to note that IDEXX continues to demonstrate solid global growth on strong international expansion. International revenues in the first quarter of 2017 grew low double digits organically driven by a 17% organic rise in CAG Diagnostics recurring revenues. This reflected continued consumable revenue gains supported by strong Catalyst instrument customer base and average testing utilization.
IDEXX derives the lion’s share of its revenues from its Companion Animal Group segment (CAG). In the first quarter, CAG revenues rose double digits on a year-over-year basis, supported by CAG Diagnostics recurring organic as well as CAG instrument revenue growth.
Also, we are optimistic about the company’s recent inclusion in the NASDAQ-100 Index, the NASDAQ-100 Equal Weighted Index and the NASDAQ-100 Ex Technology Index. It has also been listed under the coveted S&P 500 which proves that the company has been performing consistently well over the past few years.
On the flip side, foreign exchange headwinds continue to remain a major dampener for the company’s international performance. Moreover, a competitive landscape in the overseas market weighs on IDEXX. Also, over the last three months, a comparative study of the company’s forward P/E (F12M basis) multiple reflected that the stock has been quite overvalued as compared to the broader industry.
Other Key Picks
Other top-ranked stocks in the broader medical sector are Luminex Corporation , Inogen, Inc. (INGN - Free Report) and Edwards Lifesciences Corporation (EW - Free Report) . Notably, Luminex and Inogen sport a Zacks Rank #1 (Strong Buy), while Edwards Lifesciences carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Luminex has an expected long-term adjusted earnings growth of almost 16.3%. The stock added roughly 8.9% over the last three months.
Inogen has a long-term expected earnings growth rate of 17.5%. The stock has a solid one-year return of roughly 84.2%.
Edwards Lifesciences has a long-term expected earnings growth rate of 15.2%. The stock added roughly 22% over the last three months.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>