Insider Selling: Achim Henkel Sells 8,500 Shares of Abaxis Stock (ABAX)
Abaxis (NASDAQ:ABAX) Director Achim Henkel sold 8,500 shares of the company’s stock on the open market in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $41.63, for a total transaction of $353,855.00. Following the completion of the sale, the director now directly owns 27,450 shares of the company’s stock, valued at approximately $1,142,744. The sale was disclosed in a document filed with the SEC, which is available at this link.
Abaxis (NASDAQ:ABAX) traded up 1.02% on Tuesday, hitting $42.184. 71,450 shares of the company’s stock traded hands. Abaxis has a 52 week low of $32.11 and a 52 week high of $51.84. The stock has a 50-day moving average of $40.63 and a 200-day moving average of $38.97. The company has a market cap of $939.5 million and a P/E ratio of 66.29.
Abaxis (NASDAQ:ABAX) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter 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. Stockholders 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 0.96%. The ex-dividend date of this dividend is Friday, May 30th.
Several analysts have recently commented on the stock. Analysts at TheStreet upgraded shares of Abaxis from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Separately, analysts at Canaccord Genuity raised their price target on shares of Abaxis from $34.00 to $39.00 in a research note on Wednesday, May 14th. Finally, analysts at Feltl & Co. upgraded shares of Abaxis from a “sell” rating to a “hold” rating in a research note on Friday, April 25th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. Abaxis has a consensus rating of “Hold” and an average price target of $36.75.
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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