IDEXX LABORATORIES INC. $149 - Nasdaq symbol IDXX

IDEXX LABORATORIES INC. $149 (Nasdaq symbol IDXX; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 47.7 million; Market cap: $7.1 billion; Price-to-sales ratio: 5.2; No dividends paid; TSINetwork Rating: Average; www.idexx.com) earned $1.05 a share in the quarter ended September 30, 2014, up 25.0% from $0.84 a year earlier. Sales rose 13.4%, to $383.5 million from $338.3 million.

These gains are mainly because veterinarians are buying more of Idexx’s equipment for detecting diseases in pets. That’s also spurring more demand for consumable products that vets must continuously replenish.

However, the stock has jumped 40% since the start of 2014 and now trades at a high 38.4 times the $3.88 a share that Idexx will likely earn over the full year.

Idexx is still a hold.

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Blue chip stocks are big, well-established, dividend-paying corporations with strong business prospects. These are companies that also have sound management that should be able to make the right moves to keep competing successfully in a changing marketplace.

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Value Stocks

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One of the sweetest and most profitable pleasures of successful investing is to buy high-quality “value stocks” (or stocks that are reasonably priced, if not cheap, in relation to its sales, earnings or assets), then hold on to them as mainstream investors recognize the value and push up the share price.

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