Abaxis Inc (NASDAQ:ABAX) Director Michael D. Casey sold 5,000 shares of Abaxis stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $71.07, for a total value of $355,350.00. Following the transaction, the director now directly owns 27,290 shares of the company’s stock, valued at approximately $1,939,500.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Abaxis Inc (ABAX) traded up $0.57 during midday trading on Friday, hitting $71.69. The stock had a trading volume of 117,283 shares, compared to its average volume of 152,697. Abaxis Inc has a 52 week low of $43.66 and a 52 week high of $78.53. The stock has a market capitalization of $1,614.28, a price-to-earnings ratio of 66.38, a price-to-earnings-growth ratio of 11.68 and a beta of 1.27.
Abaxis (NASDAQ:ABAX) last issued its quarterly earnings data on Thursday, January 25th. The medical research company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.05. Abaxis had a return on equity of 10.09% and a net margin of 10.51%. The company had revenue of $59.70 million during the quarter, compared to analyst estimates of $59.37 million. During the same quarter in the previous year, the firm earned $0.30 earnings per share. Abaxis’s revenue was up 13.1% on a year-over-year basis. sell-side analysts predict that Abaxis Inc will post 1.2 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. We Are One Seven LLC purchased a new position in shares of Abaxis during the fourth quarter worth about $108,000. Victory Capital Management Inc. grew its holdings in shares of Abaxis by 42.8% during the third quarter. Victory Capital Management Inc. now owns 3,675 shares of the medical research company’s stock worth $164,000 after purchasing an additional 1,101 shares in the last quarter. PEAK6 Investments L.P. purchased a new position in shares of Abaxis during the fourth quarter worth about $202,000. Gotham Asset Management LLC purchased a new position in shares of Abaxis during the fourth quarter worth about $203,000. Finally, UBS Asset Management Americas Inc. purchased a new position in shares of Abaxis during the fourth quarter worth about $217,000. 96.64% of the stock is owned by institutional investors.
A number of research firms have weighed in on ABAX. Aegis reaffirmed a “hold” rating on shares of Abaxis in a report on Friday, December 1st. TheStreet raised Abaxis from a “c+” rating to a “b-” rating in a report on Wednesday, November 29th. Stifel Nicolaus lifted their target price on Abaxis from $48.00 to $57.00 and gave the company a “hold” rating in a report on Friday, January 26th. BidaskClub lowered Abaxis from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $55.00 target price on shares of Abaxis in a report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $62.30.
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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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