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Equities research analysts at Canaccord Genuity boosted their price objective on shares of Abaxis (NASDAQ:ABAX) from $34.00 to $39.00 in a research note issued to investors on Wednesday, American Banking & Market News reports. Canaccord Genuity’s price target would suggest a potential downside of 12.48% from the stock’s previous close.

Abaxis (NASDAQ:ABAX) traded down 1.12% on Wednesday, hitting $44.06. 41,670 shares of the company’s stock traded hands. Abaxis has a 1-year low of $32.11 and a 1-year high of $51.84. The stock’s 50-day moving average is $39.66 and its 200-day moving average is $38.59. The company has a market cap of $981.3 million and a price-to-earnings ratio of 70.73.

Abaxis (NASDAQ:ABAX) last released its earnings data on Thursday, April 24th. The company reported $0.17 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.19 by $0.02. The company had revenue of $42.04 million for the quarter, compared to the consensus estimate of $45.74 million. During the same quarter in the prior year, the company posted $0.30 earnings per share. The company’s quarterly revenue was down 15.8% on a year-over-year basis. Analysts expect that Abaxis will post $0.91 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Friday, May 30th.

A number of other firms have also recently commented on ABAX. Analysts at Feltl & Co. upgraded shares of Abaxis from a “sell” rating to a “hold” rating in a research note on Friday, April 25th. Separately, analysts at Zacks reiterated an “underperform” rating on shares of Abaxis in a research note on Wednesday, March 12th. They now have a $35.00 price target on the stock. Finally, analysts at Piper Jaffray raised their price target on shares of Abaxis from $36.00 to $38.00 in a research note on Monday, March 10th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Sell” and a consensus price target of $36.40.

In other Abaxis news, Director Henk Evenhuis sold 4,500 shares of the stock on the open market in a transaction dated Thursday, May 1st. The stock was sold at an average price of $41.00, for a total value of $184,500.00. Following the transaction, the director now directly owns 14,400 shares of the company’s stock, valued at approximately $590,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Abaxis, Inc (NASDAQ:ABAX) develops, manufactures, markets and sells blood analysis systems for use in the human or veterinary patient-care setting to provide clinicians with rapid blood constituent measurements.

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