Idexx Laboratories (IDXX) is a Top-Ranked Momentum Stock: Should You Buy?

Zacks Equity Research

14 July 2023 at 9:50 am·2-min read

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

Idexx Laboratories (IDXX)

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.

IDXX sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of B, and has a VGM Score of B. The stock is up 8.5% and up 10.7% over the past one-week and four-week period, respectively, and Idexx Laboratories has gained 45.6% in the last one-year period as well. Additionally, an average of 423,227.16 shares were traded over the last 20 trading sessions.

A company's earnings performance is important for momentum investors as well. For fiscal 2023, one analyst revised their earnings estimate higher in the last 60 days for IDXX, while the Zacks Consensus Estimate has increased $0.02 to $9.65 per share. IDXX also boasts an average earnings surprise of 5.2%.

IDXX should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.

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IDEXX Laboratories, Inc. (IDXX) : Free Stock Analysis Report

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Zacks Investment Research

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