One important metric to look for in a stock is an 80 or higher Relative Strength Rating. IDEXX Laboratories stock just hit that mark, with a jump from 76 to 87 Tuesday.
When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's unique rating tracks market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the last 52 weeks compares to all the other stocks in our database.
History reveals that the market's biggest winners typically have an 80 or higher RS Rating in the early stages of their moves.
See How IBD Helps You Make More Money In Stocks
Is IDEXX Laboratories Stock A Buy?
IDEXX Laboratories stock is trading within a buying range after moving past a 568.30 buy point in a flat base. The proper buying range is up to 5% above the initial entry. Once a stock moves above that range, it's best to wait for it to set up another buying opportunity.
The maker of testing and diagnostic products for veterinarians reported 17% Q4 earnings growth last quarter, beating analysts estimates by 7% Revenue rose 9%.
IDEXX Laboratories stock holds the No. 4 rank among its peers in the Medical-Systems/Equipment industry group. Intuitive Surgical and Bruker Corp are also among the group's highest-rated stocks.
