IDEXX LABORATORIES INC. $150 - Nasdaq symbol IDXX

IDEXX LABORATORIES INC. $150 (Nasdaq symbol IDXX; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 47.1 million; Market cap: $7.1 billion; Price-to-sales ratio: 4.8; No dividends paid; TSINetwork Rating: Average; www.idexx.com) earned $3.99 a share in 2014, up 14.7% from $3.48 in 2013. Sales rose 7.9%, to $1.5 billion from $1.4 billion.

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 products vets must continuously replenish.

The company now sells its products in the U.S. directs to veterinarians instead of through distributors. That hurts its short-term growth, but should expand its future profit margins. However, the stock is expensive at 34.2 times the $4.38 a share that Idexx will probably earn in 2015.

Idexx is still a hold.

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