Abaxis Inc (NASDAQ:ABAX) has earned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $44.67.
A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Abaxis from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 26th. BidaskClub raised Abaxis from a “sell” rating to a “hold” rating in a research report on Thursday, December 21st. Aegis reaffirmed a “hold” rating on shares of Abaxis in a research report on Friday, December 1st. TheStreet raised Abaxis from a “c+” rating to a “b-” rating in a research report on Wednesday, November 29th. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $47.00 price objective (up from $46.00) on shares of Abaxis in a research report on Friday, October 27th.
Abaxis (NASDAQ ABAX) traded down $0.01 during trading hours on Monday, reaching $49.51. The company had a trading volume of 189,417 shares, compared to its average volume of 167,800. The stock has a market cap of $1,134.85, a P/E ratio of 41.26 and a beta of 0.86. Abaxis has a 12-month low of $43.66 and a 12-month high of $55.44.
Abaxis announced that its board has authorized a share repurchase program on Tuesday, October 24th that authorizes the company to buyback $21.00 million in shares. This buyback authorization authorizes the medical research company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.29%. This is a boost from Abaxis’s previous quarterly dividend of $0.14. The ex-dividend date was Thursday, November 30th. Abaxis’s dividend payout ratio (DPR) is presently 53.33%.
A number of institutional investors have recently bought and sold shares of ABAX. Schwab Charles Investment Management Inc. lifted its position in Abaxis by 5.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 100,590 shares of the medical research company’s stock worth $5,334,000 after acquiring an additional 4,963 shares during the period. Arizona State Retirement System lifted its holdings in shares of Abaxis by 0.9% in the 2nd quarter. Arizona State Retirement System now owns 11,834 shares of the medical research company’s stock valued at $627,000 after buying an additional 100 shares during the period. Legal & General Group Plc lifted its holdings in shares of Abaxis by 9.9% in the 2nd quarter. Legal & General Group Plc now owns 44,532 shares of the medical research company’s stock valued at $2,360,000 after buying an additional 4,017 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of Abaxis by 61.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,349 shares of the medical research company’s stock valued at $390,000 after buying an additional 2,795 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Abaxis by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,574 shares of the medical research company’s stock valued at $136,000 after buying an additional 386 shares during the period. 97.66% of the stock is owned by institutional investors.
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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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