ValuEngine upgraded shares of Abaxis (NASDAQ:ABAX) from a hold rating to a buy rating in a report released on Monday, April 2nd.
Several other equities research analysts also recently commented on ABAX. Zacks Investment Research cut shares of Abaxis from a hold rating to a sell rating in a report on Tuesday, December 5th. BidaskClub cut shares of Abaxis from a hold rating to a sell rating in a report on Tuesday, December 12th. Northcoast Research raised shares of Abaxis from a neutral rating to a buy rating in a report on Friday, January 5th. Raymond James Financial raised shares of Abaxis from an underperform rating to a market perform rating in a report on Tuesday, January 9th. Finally, UBS raised shares of Abaxis from an underperform rating to a market perform rating in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Abaxis presently has an average rating of Hold and an average price target of $61.10.
ABAX stock traded up $0.08 during trading on Monday, hitting $73.86. 141,446 shares of the company’s stock traded hands, compared to its average volume of 202,003. The firm has a market cap of $1,639.02, a price-to-earnings ratio of 58.09, a PEG ratio of 9.81 and a beta of 1.16. Abaxis has a 1 year low of $43.66 and a 1 year high of $78.53.
Abaxis (NASDAQ:ABAX) last announced its earnings results on Thursday, January 25th. The medical research company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.05. Abaxis had a net margin of 10.51% and a return on equity of 10.09%. The company had revenue of $59.70 million during the quarter, compared to the consensus estimate of $59.37 million. During the same period last year, the firm earned $0.30 earnings per share. Abaxis’s revenue was up 13.1% compared to the same quarter last year. analysts anticipate that Abaxis will post 1.16 EPS for the current fiscal year.
In related news, COO Donald Peter Wood sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $68.99, for a total transaction of $689,900.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael D. Casey sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $71.07, for a total transaction of $355,350.00. Following the transaction, the director now owns 27,290 shares in the company, valued at $1,939,500.30. The disclosure for this sale can be found here. Insiders have sold 25,662 shares of company stock valued at $1,804,604 in the last three months. Corporate insiders own 4.30% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP acquired a new position in Abaxis during the third quarter worth about $430,000. Rhumbline Advisers boosted its holdings in Abaxis by 14.1% in the 3rd quarter. Rhumbline Advisers now owns 67,532 shares of the medical research company’s stock valued at $3,015,000 after purchasing an additional 8,350 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Abaxis by 2.1% in the 4th quarter. Bank of New York Mellon Corp now owns 318,943 shares of the medical research company’s stock valued at $15,794,000 after purchasing an additional 6,465 shares during the last quarter. OxFORD Asset Management LLP acquired a new position in Abaxis in the 3rd quarter valued at about $357,000. Finally, Raymond James & Associates boosted its holdings in Abaxis by 8.0% in the 4th quarter. Raymond James & Associates now owns 122,922 shares of the medical research company’s stock valued at $6,087,000 after purchasing an additional 9,111 shares during the last quarter. Hedge funds and other institutional investors own 99.32% of the company’s stock.
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Abaxis Company Profile
Abaxis, Inc develops, manufactures, markets, and sells portable blood analysis systems for use in human or veterinary patient care settings to provide rapid blood constituent measurements for clinicians worldwide. It operates in two segments, Medical Market and Veterinary Market. The company offers Piccolo chemistry analyzers with rapid blood constituent measurements for use in human patient care; and Piccolo profiles that are single-use medical reagents.
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