NEW YORK ( TheStreet) -- Idexx Laboratories (Nasdaq: IDXX) hit a new 52-week high Friday as it is currently trading at $84.66, above its previous 52-week high of $82.91 with 58,771 shares traded as of 9:41 a.m. ET. Average volume has been 247,400 shares over the past 30 days.

Idexx has a market cap of $4.6 billion and is part of the health care sector and drugs industry. Shares are up 17.7% year to date as of the close of trading on Thursday.

IDEXX Laboratories, Inc. develops, manufactures, and distributes products for the veterinary and production animal markets, as well as for the water testing and dairy markets. The company has a P/E ratio of 32.6, equal to the average drugs industry P/E ratio and above the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Idexx as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full Idexx Ratings Report.

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