Abaxis (ABAX) Stock Rating Reaffirmed by Canaccord Genuity

Canaccord Genuity reaffirmed their hold rating on shares of Abaxis (NASDAQ:ABAX) in a research report report published on Tuesday. They currently have a $55.00 price objective on the medical research company’s stock.

Several other brokerages have also recently weighed in on ABAX. Zacks Investment Research cut shares of Abaxis from a hold rating to a sell rating in a research note on Monday, January 8th. UBS Group upgraded shares of Abaxis from an underperform rating to a market perform rating in a research note on Tuesday, January 9th. Raymond James Financial upgraded shares of Abaxis from an underperform rating to a market perform rating in a research note on Tuesday, January 9th. Northcoast Research upgraded shares of Abaxis from a neutral rating to a buy rating in a research note on Friday, January 5th. Finally, BidaskClub upgraded shares of Abaxis from a sell rating to a hold rating in a research note on Thursday, December 21st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $49.63.

Abaxis (NASDAQ:ABAX) traded down $0.23 during trading hours on Tuesday, reaching $62.21. 128,800 shares of the company’s stock were exchanged, compared to its average volume of 236,410. Abaxis has a fifty-two week low of $43.66 and a fifty-two week high of $63.18. The company has a market cap of $1,417.20, a P/E ratio of 51.84 and a beta of 0.86.

Abaxis (NASDAQ:ABAX) last issued its quarterly earnings results on Tuesday, October 24th. The medical research company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The business had revenue of $58.90 million for the quarter, compared to analysts’ expectations of $60.85 million. Abaxis had a net margin of 11.98% and a return on equity of 10.18%. The company’s revenue was up .5% compared to the same quarter last year. During the same quarter last year, the company posted $0.34 EPS. equities research analysts expect that Abaxis will post 1.11 EPS for the current year.

Abaxis declared that its board has authorized a share repurchase plan on Tuesday, October 24th that permits the company to buyback $21.00 million in outstanding shares. This buyback authorization permits the medical research company to buy shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can lifted its stake in shares of Abaxis by 44.3% during the 4th quarter. Bank of Montreal Can now owns 5,629 shares of the medical research company’s stock valued at $278,000 after buying an additional 1,727 shares in the last quarter. Cetera Investment Advisers purchased a new position in shares of Abaxis during the 3rd quarter valued at $263,000. Stifel Financial Corp lifted its stake in shares of Abaxis by 12.2% during the 3rd quarter. Stifel Financial Corp now owns 26,512 shares of the medical research company’s stock valued at $1,183,000 after buying an additional 2,878 shares in the last quarter. OxFORD Asset Management LLP purchased a new position in shares of Abaxis during the 3rd quarter valued at $357,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Abaxis by 1.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 683,986 shares of the medical research company’s stock valued at $30,540,000 after buying an additional 11,757 shares in the last quarter. Institutional investors own 97.66% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This piece was first posted by Ticker Report and is the sole property of of Ticker Report. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.tickerreport.com/banking-finance/3142802/abaxis-abax-stock-rating-reaffirmed-by-canaccord-genuity.html.

About Abaxis

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.

Analyst Recommendations for Abaxis (NASDAQ:ABAX)

Receive News & Ratings for Abaxis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abaxis and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


© 2006-2018 Ticker Report. Google+.