I talked about Idexx laboratories (Idexx) back in October 2019 when the counter was trading at USD272/share and was valued at close to 60x PER. My conclusion then was that despite its hefty valuation, the counter can still generate an after-inflation return of 7.6% on my base/mid-case scenario using Buffett-style analysis and deserve an entry. The counter is now trading at USD325/share or a close to 20% return from 9 months back.
Is there still a business case for getting into Idexx? Apparently Motley Fool US believes so as it is one of their latest Best Buy recommendations. I will look to evaluate the company using a similar style that I have done previously to see if its current price of USD325/share remains an attractive one. Before that, let’s briefly take a look at what the company is all about.
Idexx has also been featured a number of times in my other write-ups: