Here's How Much a $1000 Investment in Idexx Laboratories Made 10 Years Ago Would Be Worth Today
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.
The fear of missing out, or FOMO, also plays a factor in investing, especially with particular tech giants, as well as 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) (89.9% of revenues in 2021, up 21.1% from 2020): 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 (4.6%, up 13.9%): 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) (4.2%, down 6.8%): 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 (1.3%, down 7.4%): 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.
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 February 2013 would be worth $10,675.84, or a 967.58% gain, as of February 3, 2023, according to our calculations. Investors should note that this return excludes dividends but includes price increases.
The S&P 500 rose 176.23% and the price of gold increased 10.19% over the same time frame in comparison.
Looking ahead, analysts are expecting more upside for IDXX.
IDEXX exited the third quarter of 2022 on a decent note, with earnings and revenues beating estimates. The company registered year-over-year growth in revenues on a reported and organic basis. The top line was driven by strong CAG Diagnostics recurring revenue growth. The upside was supported by record instrument placements, resulting in a year-over-year expansion of IDEXX's global premium instrument installed base, which is encouraging. The company continues to demonstrate solid growth globally. In the past one year, IDEXX has outperformed its industry. However, LPD revenues declined in the quarter on a reported basis. Inflationary pressure has been denting the bottom line. The reduced EPS guidance for 2022 and narrowed organic revenue growth range reflect the ongoing severe foreign exchange headwind.
The stock has jumped 20.28% over the past four weeks. Additionally, no earnings estimate has gone lower in the past two months, compared to 2 higher, for fiscal 2022; the consensus estimate has moved up as well.
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