Thesis
I recently covered medtech firm Align Technology (ALGN) following a 25% post earnings decline. While Align is a medtech suffering from pricing power degradation and contracting margins, IDEXX Laboratories (IDXX) has been expanding margins and accelerating revenue growth.
IDEXX is more expensive on a forward earnings basis compared to Align and other medtech peers such as Illumina (ILMN) and Intuitive Surgical (ISRG).
IDEXX is poised for continued growth, with a reoccurring revenue model and expansion relating to the humanization of pets. But, IDEXX