Stock picking is tough. Stock investing is riskier, compared to mutual funds. But picking and holding the right stock over the long term can make you rich. Here's our top pick for the August 3-7, 2020 trading week.
The coronavirus pandemic has created attractive buying opportunities. Although world markets have somewhat recovered from their March 2020 lows, there are still lucrative opportunities out there. Each weekend, we will attempt to highlight a stock we think has great future upside, and could deliver solid returns in the next few months and years. Without further ado, we present you with...
IDEXX Laboratories, Inc (IDXX)
Let's start in the healthcare sector with IDEXX Laboratories (IDXX). IDXX, with its subsidiaries, "develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. Learn more about IDEXX Laboratories. In the early days of the Covid-19 pandemic, the stock was extremely affordable. IDXX closed down at $183.29 on 03/20/2020. However, the stock has recently surged. IDXX hit a 52-week high of $407.86 on 07/31/2020, after crushing Q2 earnings and estimates. IDXX gained +$23.65/share or 6.32% to close at $397.75. We believe the stock has more room left to run for the long-term buy-and-hold investor.
IDDX Historical Performance
Below are the historical returns for IDXX. Where appropriate and available, we display returns for the S&P 500 for comparison. IDXX returns are courtesy of Seeking Alpha. Those of the S&P 500 are retrieved from Marketwatch. Data is current as of the article publication date.
|YTD (%)||1M (%)||6M (%)||1YR (%)||5YR (%)||10YR (%)|
The bottom line
The secret to building sustainable wealth is investing in companies with solid business fundamentals and hold them for the long term. IDXX is currently trading at $397.75/share. It has a P/E ratio of 75.25 (Yahoo Finance) and a Zack's Rank of 2 (Buy). We believe IDEXX Laboratories is a great stock to add to your portfolio for long-term wealth. For more information on IDXX, visit the investor relations page.
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Disclosure: We are LONG IDXX. We wrote this article ourselves. It expresses our opinions. We do not receive compensation from the companies highlighted, nor do we have any business relationships with them. All data is current as of the date of article publication. This article contains affiliated links to investment products. We may receive a commission through those links when you join the partner. Information presented here should not be construed as financial advice. You are always encouraged to conduct your own research. Our full disclaimer.