IDXX
IDEXX Laboratories Inc.
Healthcare
10/20/2014
Presented
| Date | 10/17/2014 |
| Price | $59.68 |
| Market Cap | $6.00B |
| Ent Value | $6.23B |
| P/E Ratio | 44.54x |
| Book Value | $1.24 |
| Div Yield | N/A |
| Shares O/S | 100.54M |
| Ave Daily Vol | 920,000 |
| Short Int | 10.27% |
Current
| Price | $473.92 |
| Market Cap | $39.01B |
| IDEXX Laboratories, Inc. develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, water testing, and dairy markets worldwide. The company operates through Companion Animal Group, Water, Livestock and Poultry Diagnostics, Dairy, and OPTI Medical segments. The company primary offers point-of-care veterinary diagnostic products comprising instruments and consumables, and rapid assays; veterinary reference laboratory diagnostic and consulting services; and practice management systems and services, and digital radiography systems used by veterinarians. It also provides biological materials testing and laboratory diagnostic instruments and services used by the biomedical research community; diagnostic and health-monitoring products for livestock and poultry; products that test water for certain microbiological contaminants; products that test milk for antibiotic residues and other contaminants; and point-of-care electrolytes and blood gas analyzers used in the human point-of-care medical diagnostics market. The company markets and sells its products through marketing, sales, and technical service groups, as well as independent distributors and other resellers. IDEXX Laboratories, Inc. was founded in 1983 and is headquartered in Westbrook, Maine. |
Please note, this stock split on 06/16/2015 at a ratio of 2/1. The presented data has been updated to account for the change, however, the text of the note may refer to data based on the original presented price of $119.35.
Publicly traded companies mentioned herein: IDEXX Laboratories Inc (IDXX), Henry Schein Inc (HSIC), Patterson Cos Inc (PDCO), MWI Veterinary Supply Inc (MWI), Abaxis Inc (ABAX), VCA Inc (WOOF)
Highlights
At ~$118 per share, the presenter sees a favorable risk/ reward setup for bears on IDEXX Laboratories (IDXX). He is presently short the stock, and believes the recent decision announced by Jonathan Ayers (IDXX’s Chairman and Chief Executive Officer) to transition to a direct distribution model is a negative in the long run. IDXX had the distribution channel locked up for years, and this advantage is now gone. The company’s main focus is veterinary products (~84% of revenues), including diagnostics, instruments, analyzers and other point-of-care (POC) equipment, and there is nothing particularly differentiated about IDXX’s products that gives them an edge, in the presenter’s opinion.
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