5 Best Stocks To Buy According To Terry Smith’s Fundsmith LLP

3. IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Fundsmith LLP’s Stake Value: $2,638,225,000

Percentage of Fundsmith LLP’s 13F Portfolio: 7.29%

Number of Hedge Fund Holders: 43

IDEXX Laboratories, Inc. (NASDAQ:IDXX) stock represents 7.29% of Terry Smith’s Q3 investments, with his hedge fund owning 4.2 million shares of the company, worth $2.6 billion. IDEXX Laboratories, Inc. (NASDAQ:IDXX) is a multinational American company specializing in healthcare diagnostic products and services for the animal veterinary, livestock, poultry, water testing, and dairy markets.

Morgan Stanley analyst Erin Wright initiated coverage of IDEXX Laboratories, Inc. (NASDAQ:IDXX) with an Overweight rating and a $732 price target on November 19. The analyst observed that the company should benefit from a robust diagnostics market backdrop as the world’s largest provider of pet diagnostics. IDEXX Laboratories, Inc. (NASDAQ:IDXX) also has several incremental growth drivers. 

Posting its earnings for the quarter ending September 2021, IDEXX Laboratories, Inc. (NASDAQ:IDXX) reported a $2.03 EPS, exceeding estimates by $0.12. Revenue over the period jumped 12.28% year-over-year to $810.42 million, beating estimates by $12.74 million. 

A total of 43 hedge funds reported owning stakes in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during Q3, up from 39 funds in the prior quarter. Arrowstreet Capital is one of the leading company stakeholders, with 474,054 shares worth $294.8 million. 

Here is what Carillon Tower Advisers has to say about IDEXX Laboratories, Inc. (NASDAQ:IDXX) in its Q2 2021 investor letter:

“IDEXX Laboratories develops, manufactures, and distributes products and provides services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets. The firm has been an impressive contributor, as it continues to benefit from its market-leading position, as well as from a steady pace of new product introductions. It also is benefitting from the uptick in pet adoptions and overall level of pet-related spending induced by the pandemic.”