IDEXX Laboratories (IDXX) Stock

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Two companies that match this description are Idexx Laboratories (NASDAQ: IDXX) and Zoetis (NYSE: ZTS), both of which specialize in animal healthcare. Idexx is already a key investment for my daughter, while Zoetis is one of my own, and I believe that gradually increasing your investment in successful companies is a smart strategy, as suggested by David Gardner, co-founder of Motley Fool. Although Idexx and Zoetis have dropped 37% and 28% from their highest values, they have still outperformed the S&P 500 in total returns over the last ten years.

One of my preferred methods for growing my investment portfolio is to put money into reliable companies that have a history of outperforming the market after temporary declines. This strategy is particularly effective when the stocks are available at prices that might be rare opportunities.

WESTBROOK, Maine--(BUSINESS WIRE)--IDEXX Laboratories, Inc. (NASDAQ: IDXX), a leading company in pet healthcare innovation, has announced that its Board of Directors has approved an increase in its share repurchase program. They are now authorized to buy back up to five million more shares of the company's common stock. These repurchases can occur at management's discretion, either in the open market or through negotiated deals.

IDEXX shows great strength in its CAG Diagnostics division and has performed well globally, which is very encouraging.

WESTBROOK, Maine--(BUSINESS WIRE)--IDEXX Laboratories, Inc. (NASDAQ: IDXX), a leading company in pet healthcare innovation, has announced that Brian McKeon will retire on June 1, 2025. Andrew Emerson, who is currently the Senior Vice President of Finance for the Corporate and Companion Animal Group, will take over as Executive Vice President, Chief Financial Officer, and Treasurer starting March 1, 2025. Until his retirement, Mr. McKeon will continue to work as EVP and Special Advisor to the company.

I maintain a 'Sell' rating on IDEXX because of low clinical visits and demand in the U.S., setting a one-year price target of $400 per share. The company's Q3 results revealed a 2.1% drop in same-store clinical visits, which fell short of market expectations, prompting a reduction in revenue growth forecasts for FY24. Although IDEXX has strong recurring revenue and high retention rates, ongoing economic issues and high-interest rates are likely to affect its business growth.

IDEXX Laboratories, Inc. (NASDAQ:IDXX) will hold its Q3 2024 Earnings Conference Call on October 31, 2024, at 8:30 AM ET. The call will feature company representatives, including CFO Brian McKeon and President and CEO Jay Mazelsky, along with participants from various financial institutions. Please note that this conference is being recorded.

WESTBROOK, Maine--(BUSINESS WIRE)--In the 2024 Growth and Financial Performance Outlook section, the second paragraph's second sentence should state: At the midpoint, the expected full-year comparable operating profit margin growth of 30 - 60 basis points accounts for a roughly 40 basis point negative impact due to a customer contract resolution payment from the first quarter of 2023. (instead of: At midpoint, projected full year comparable operating profit margin expansion of 70 - 100 basis points inclu.)