Investment Thesis
Idexx (IDXX) is the leading pet diagnostics medical device manufacturer. Pet care is a secular growth industry and Idexx is perfectly positioned to capitalize. It is highly profitable and cash generative. It has a track record and targets of steady revenue growth and improving profitability. Its valuation, however, keeps us on the sidelines. We're neutral Idexx as we see better opportunities elsewhere.
Large Market Opportunity In Pet Diagnostics
Pets hold an almost human like place in today's society. According to a study done by the HABRI foundation, 98% of pet