IDEXX Laboratories, Inc. (NASDAQ:IDXX)

No government reimbursement risk here since IDEXX deals with pet and not human healthcare. High ROE, little debt, lots of FCF. Biggest risk is overpaying, but the business looks very strong.

People are crazy about their pets

People will spend money on their pets no matter what the economy does. Pet drugs are recession proof!

This account tracks the performance of the investment firm Ruane, Cunniff, and Goldfarb - the investment manager of Sequoia Fund.

People love their pets.

Idexx fell for a while after the split in november, but has leveled off and is starting back up again. i dont think it will go down again based on the fact that it is the largest vet supply company with the best equipment. it uses animal blood for equipment testing rather than human blood, which doctors like because it is a lot safer against disease. They have new equipment out that is starting to be sold on a larger scale. this company is not going anywhere (but up).

Solid company, leader in veterinary diagnostics and food safety.

diagnostics dont care about energy costs

Idexx is the dominate player in the veterinary diagnostic business. Six or seven years ago they launched lazorcyte, a hematology machine that, althought expensive, they have been able to place into a ever growing impressive list of progressive veterinary practices. Now they have launched Catalist, a new revolutionary new blood chemistry devise, that I believe will show the sam type of growth. the great thing about Idexx is not only do they do well with the machines, each machine requires high profit consumables. One look at Idexx history since the launch of Lazorcyte, give me reason to believe catalyst will do the same for their stock for the forseeable future.

Wish this were at a lower price point, but still a solid, performing company- a split in the coming years would not be unwarranted. I put real money in so we'll see. Plan to hold for at least 2 years.

the market for these type of stocks are never going to be out of demand, these markets are some of the types that will never loose place in the domestic and foriegn markets

This is a hot market! Think contamination scares of the last year. I see this going up.

Love my pets.

expanding to asia

veterinary services continue to grow by leaps and bounds and Idexx Laboratories is well positioned to provide speciality products to clinics

Veterinary medical diagnostics are becoming a larger portion of revenue for veterinary hospitals than ever before. People are spending more on their pets than themselves in some cases, partly due to the fact that at the end of the day their "best friend" is always there for them no matter what other people think about them or treat them.

deals with animals people love their pets

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IDEXX Laboratories, Inc. develops, manufactures, and distributes products for the veterinary, and the food and water testing markets worldwide. It operates through three segments: Companion Animal Group (CAG), Water Quality Products (Water), and Production Animal Segment (PAS).