When to transplant Peristeria elata?

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Got a Peristeria elata in November 2015. It is climbing out of a 3" pot. This week I see new growths just beginning at the base of pseudobulbs. Is now the time to repot?

In the photo you can see a roundish new growth on the left pseudobulb, which also has new roots; the center one, just in front of my finger; and one slightly older, and more pointed, off to the right.

Thanks.