雅虎香港財經 IDEXX Laboratories (IDXX) Rebounded After Significant Drawdown From July Highs
Conestoga Capital Advisors, an asset management company, released its “Mid Cap Strategy” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. The Mid Cap Composite rose 11.00% net of fees in the fourth quarter, compared to a 14.55% return for the Russell Midcap Growth Index. Negative impacts from stock selection were outweighed by positive sector allocation effects. The Mid Cap Composite climbed 22.83% for the year vs. the benchmark’s rise of 25.87%. Four sectors accounted for the majority of the relative performance; the largest laggards were the industrial and technology sectors, while health care and energy were additive to returns. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Conestoga Capital Advisors Mid Cap Strategy featured stocks such as IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the fourth quarter 2023 investor letter. Headquartered in Westbrook, Maine, IDEXX Laboratories, Inc. (NASDAQ:IDXX) engages in the development and manufacturing of products and services for animal veterinary, livestock and poultry, dairy, and water testing. On February 21, 2024, IDEXX Laboratories, Inc. (NASDAQ:IDXX) stock closed at $554.77 per share. One-month return of IDEXX Laboratories, Inc. (NASDAQ:IDXX) was 6.19%, and its shares gained 15.98% of their value over the last 52 weeks. IDEXX Laboratories, Inc. (NASDAQ:IDXX) has a market capitalization of $46.075 billion.
Conestoga Capital Advisors Mid Cap Strategy stated the following regarding IDEXX Laboratories, Inc. (NASDAQ:IDXX) in its fourth quarter 2023 investor letter:
"IDEXX Laboratories, Inc. (NASDAQ:IDXX): IDXX is the industry leader in providing instruments (and consumables) used in diagnostics, detection, and information systems for veterinary, food, and water testing applications. Earnings for the quarter were mixed, as IDXX revenue came in lower than expected on weaker veterinary clinic traffic. However, pricing came in better than expected and shares rebounded after a significant drawdown from July highs."
A veterinarian in a veterinary clinic examining a companion animal.
IDEXX Laboratories, Inc. (NASDAQ:IDXX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, IDEXX Laboratories, Inc. (NASDAQ:IDXX) was held by 43 hedge fund portfolios, down from 48 in the previous quarter, according to our database.
We discussed IDEXX Laboratories, Inc. (NASDAQ:IDXX) in another article and shared the list of most valuable medical device companies in the US. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
