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Shares of IDEXX Laboratories, Inc. (IDXX), the leading provider of diagnostics to the veterinary industry, rose during the quarter, driven by improving domestic veterinary trends and progress on resolving an ongoing FTC investigation of its distribution practices. IDEXX reported that domestic foot traffic to veterinarians and practice-level revenues grew year-over-year. The company also announced a revenue-neutral plan to amend its contract with one of its three large distributors, which it believes will alleviate the FTC's concerns.
Baron Funds Comments on IDEXX Laboratories
From Baron Funds' second-quarter letter:
Shares of IDEXX Laboratories, Inc. (IDXX), the leading provider of diagnostics to the veterinary industry, rose during the quarter, driven by improving domestic veterinary trends and progress on resolving an ongoing FTC investigation of its distribution practices. IDEXX reported that domestic foot traffic to veterinarians and practice-level revenues grew year-over-year. The company also announced a revenue-neutral plan to amend its contract with one of its three large distributors, which it believes will alleviate the FTC's concerns.
Shares of IDEXX Laboratories, Inc. (IDXX), the leading provider of diagnostics to the veterinary industry, rose during the quarter, driven by improving domestic veterinary trends and progress on resolving an ongoing FTC investigation of its distribution practices. IDEXX reported that domestic foot traffic to veterinarians and practice-level revenues grew year-over-year. The company also announced a revenue-neutral plan to amend its contract with one of its three large distributors, which it believes will alleviate the FTC's concerns.
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