Betting Against IDEXX Labs Because of Coronavirus? You May Be Barking Up the Wrong Tree
Estimates vary, but humans have likely had pets since dogs joined us in our first permanent settlements 25,000 years ago. Today, more than half of humans globally have at least one pet living with them. Awhile later, about 10,000 B.C., we got around to domesticating animals for food, and those animals needed taking care of, too.
IDEXX Laboratories (NASDAQ: IDXX) has been helping humans care for animals since it was founded in 1983. The company's original service was detecting diseases in livestock and poultry. It now provides testing and diagnostic equipment, as well as software for understanding tests or even managing a veterinary practice. But with the coronavirus affecting economies -- and food chains -- across the globe, investors are wise to ask, "Is this company recession-proof?"
Image source: Getty Images.
Source Fool.com
