Core Insights - Conestoga Capital Advisors reported a -5.75% return for its Mid Cap Strategy in Q4 2025, underperforming the Russell Midcap Growth Index which returned -3.70% [1] - The full year 2025 saw the Mid Cap Composite return -4.73%, significantly trailing the benchmark return of 8.66% [1] Company Overview: IDEXX Laboratories, Inc. - IDEXX Laboratories, Inc. is a leading US-based healthcare company focused on diagnostics and testing for veterinary, food, and water applications [3] - As of February 19, 2026, IDEXX's stock closed at $630.73 per share, with a market capitalization of $50.461 billion [2] - Over the past month, IDEXX's stock delivered a -9.10% return, but gained 39.30% over the past twelve months [2] Performance and Market Position - IDEXX has shown resilient organic revenue growth despite weak veterinary traffic trends and has consistently beaten earnings expectations [3] - The company is not among the 30 most popular stocks among hedge funds, with 55 hedge fund portfolios holding its shares at the end of Q3 2025, an increase from 48 in the previous quarter [4] - While IDEXX is recognized for its potential, the company faces competition from certain AI stocks that are perceived to offer greater upside potential and lower downside risk [4]

Core Insights - Conestoga Capital Advisors reported that equity markets reached new all-time highs in Q3 2025, but their Mid Cap Composite underperformed with a return of -3.2% net-of-fees compared to a 2.8% gain for the Russell Midcap Growth Index [1] - The focus on high-quality, profitable companies struggled in a risk-on environment during the quarter [1] Company Overview: IDEXX Laboratories, Inc. - IDEXX Laboratories, Inc. is a leader in diagnostics and information systems for veterinary, food, and water testing applications [3] - The company reported a one-month return of -1.74% and a 52-week gain of 38.06%, with shares closing at $637.13 on October 21, 2025, and a market capitalization of $50.97 billion [2] - IDEXX's revenue increased by 11% as reported and 9% organically in Q2 2025, despite weak veterinarian visits [4] Performance and Market Position - IDEXX Laboratories experienced strong earnings in Q3 2025, with accelerated organic revenue growth and rapid adoption of their latest premium instrument [3] - The number of hedge funds holding IDEXX shares decreased from 51 to 48 from the previous quarter, indicating a slight decline in popularity among institutional investors [4]

Core Insights - Crane NXT reported a sales growth of approximately 9% for the second quarter of 2025, with net sales reaching $404.4 million compared to $370.6 million in the same period of 2024 [4][5][7] - The company maintained its full-year earnings per share (EPS) guidance in the range of $4.00 to $4.30 [7][13] Financial Performance - The adjusted operating profit margin for the second quarter was approximately 21.2%, down from 24.1% in the previous year [6][10] - Operating profit decreased to $47.9 million, a decline of 29.1% from $67.6 million in the second quarter of 2024 [6][7] - The company experienced a core sales decline of 0.8%, primarily due to lower volumes in CPI [5][7] Segment Performance - Crane Payment Innovations segment reported net sales of $211.4 million, a decrease of 5.8% year-over-year, primarily driven by lower volumes [9] - Security and Authentication Technologies segment saw a significant increase in net sales to $193.0 million, up 32.0% year-over-year, largely due to acquisitions and core sales growth in international markets [10] Cash Flow and Financial Metrics - Cash provided by operating activities was $62.8 million, an increase from $56.8 million in the prior year [11] - The company held cash and cash equivalents of $152.5 million as of June 30, 2025, down from $165.8 million at the end of 2024 [12] Order Backlog - The total order backlog as of June 30, 2025, was $591.6 million, an increase from $547.8 million in the previous quarter [35]