Shares of Abaxis Inc. (NASDAQ:ABAX) have earned an average rating of “Hold” from the nine analysts that are currently covering the company. Three analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $44.56.
Several analysts recently weighed in on ABAX shares. Zacks Investment Research cut shares of Abaxis from a “hold” rating to a “sell” rating in a research note on Monday, July 25th. Canaccord Genuity set a $50.00 price objective on shares of Abaxis and gave the stock a “hold” rating in a research note on Saturday. Credit Suisse Group AG reissued a “sell” rating and issued a $39.00 price objective on shares of Abaxis in a research note on Tuesday, August 16th. Finally, Feltl & Co. cut shares of Abaxis from a “hold” rating to a “sell” rating in a research note on Friday, July 22nd.
Abaxis (NASDAQ:ABAX) traded up 0.38% during mid-day trading on Tuesday, hitting $52.57. The company had a trading volume of 58,396 shares. The firm has a market capitalization of $1.18 billion, a PE ratio of 38.23 and a beta of 1.00. Abaxis has a 12-month low of $37.71 and a 12-month high of $58.15. The company’s 50 day moving average price is $50.84 and its 200-day moving average price is $48.07.
Abaxis (NASDAQ:ABAX) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.32 by $0.02. Abaxis had a return on equity of 13.03% and a net margin of 14.10%. The business earned $57.70 million during the quarter, compared to the consensus estimate of $58.70 million. During the same period in the prior year, the firm earned $0.31 EPS. On average, analysts forecast that Abaxis will post $1.36 EPS for the current fiscal year.
In other Abaxis news, CEO Clinton Severson sold 2,000 shares of the company’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $48.29, for a total transaction of $96,580.00. Following the sale, the chief executive officer now owns 574,691 shares of the company’s stock, valued at $27,751,828.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Prithipal Singh sold 1,500 shares of the company’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $50.30, for a total transaction of $75,450.00. Following the sale, the director now directly owns 43,500 shares in the company, valued at approximately $2,188,050. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Abaxis by 3.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 571,945 shares of the company’s stock worth $25,961,000 after buying an additional 21,550 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Abaxis by 32.2% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,447,555 shares of the company’s stock worth $115,598,000 after buying an additional 596,156 shares during the period. Invictus RG purchased a new stake in shares of Abaxis during the first quarter worth approximately $302,000. Pacific Global Investment Management CO purchased a new stake in shares of Abaxis during the first quarter worth approximately $2,116,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Abaxis by 10,732.9% in the first quarter. JPMorgan Chase & Co. now owns 243,957 shares of the company’s stock worth $11,073,000 after buying an additional 241,705 shares during the period. 99.03% of the stock is currently owned by institutional investors and hedge funds.
Abaxis, Inc is a developer, manufacturer and marketer of portable blood analysis systems that are used in medical specialties in human or veterinary patient care to provide clinicians with blood constituent measurements. The Company markets and sells its products around the world through independent distributors and direct sales force.
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