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Abaxis (NASDAQ:ABAX) was upgraded by equities researchers at Bank of America from an “underperform” rating to a “neutral” rating in a research report issued on Monday. The firm currently has a $48.00 price target on the stock, up from their previous price target of $36.00. Bank of America’s price target suggests a potential upside of 4.62% from the stock’s previous close.

Shares of Abaxis (NASDAQ:ABAX) traded up 3.42% during mid-day trading on Monday, hitting $47.45. The stock had a trading volume of 551,816 shares. Abaxis has a 52-week low of $32.11 and a 52-week high of $46.98. The stock has a 50-day moving average of $43.55 and a 200-day moving average of $41.00. The company has a market cap of $1.063 billion and a P/E ratio of 65.54.

Abaxis (NASDAQ:ABAX) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.21 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.19 by $0.02. The company had revenue of $47.50 million for the quarter, compared to the consensus estimate of $46.95 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. On average, analysts predict that Abaxis will post $0.93 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.87%.

ABAX has been the subject of a number of other recent research reports. Analysts at Canaccord Genuity raised their price target on shares of Abaxis from $39.00 to $40.00 in a research note on Friday. They now have a “hold” rating on the stock. Separately, analysts at Zacks upgraded shares of Abaxis from an “underperform” rating to a “neutral” rating in a research note on Wednesday, June 18th. They now have a $46.00 price target on the stock. Finally, analysts at TheStreet upgraded shares of Abaxis from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $43.00.

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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