Abaxis Upgraded to Neutral by Zacks (ABAX)
Abaxis (NASDAQ:ABAX) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research report issued on Wednesday. The firm currently has a $46.00 price target on the stock. Zacks‘s target price would suggest a potential upside of 5.22% from the company’s current price.
In other Abaxis news, Director Richard Bastiani unloaded 2,000 shares of the stock on the open market in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $42.10, for a total value of $84,200.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Abaxis (NASDAQ:ABAX) traded down 0.97% during mid-day trading on Wednesday, hitting $43.295. The stock had a trading volume of 107,551 shares. Abaxis has a 52-week low of $32.11 and a 52-week high of $51.84. The stock’s 50-day moving average is $42.15 and its 200-day moving average is $39.88. The company has a market cap of $972.3 million and a price-to-earnings ratio of 69.40.
Abaxis (NASDAQ:ABAX) last announced its earnings results 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. On average, analysts predict that Abaxis will post $0.91 earnings per share for the current fiscal year.
Several other analysts have also 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. Abaxis has a consensus rating of “Hold” and a consensus price target of $39.50.
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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