IDEXX Labs作为Hedgeye的新简短创意添加

IDEXX Laboratories (NASDAQ:IDXX) was added a new short idea at Hedgeye. 

"We have been stalking the IDXX short for much of 2024," Hedgeye analyst Tom Tobin wrote in a note on Sunday.  "Our thesis has been `Short Discretionary Health Care' and looking for shorts in Vet and Dental where we were seeing weakness develop.  We started with shorting PDCO in March followed by ALGN in July. We added IDXX this past Friday when we reviewed our Trackers and recent earnings updates."

Tobin believes IDEXX (IDXX) is vulnerable to continued pressure on vet services demand. 

"IDXX is a dominant market leader in veterinary diagnostics," Tobin added.  They have the best equipment, the best service, but they have also locked their customers into a high retention contracts and taken significant price increases.  By leveraging their dominance, IDXX may have set the stage for a rough couple of years as they added significantly to the cost of caring for one's pet."

IDEXX (IDXX) has short interest of 2.9%. Shares of IDEXX ticked down by 0.1% on Monday.

IDEXX (IDXX) is scheduled to report Q3 results on Thursday.