Insider Selling: Alberto Santa Ines Unloads 10,738 Shares of Abaxis Stock (ABAX)
Abaxis (NASDAQ:ABAX) CFO Alberto Santa Ines sold 10,738 shares of the stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $47.81, for a total value of $513,383.78. Following the completion of the sale, the chief financial officer now directly owns 90,574 shares of the company’s stock, valued at approximately $4,330,343. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Abaxis (NASDAQ:ABAX) traded down 0.61% during mid-day trading on Thursday, hitting $47.41. The stock had a trading volume of 200,501 shares. Abaxis has a 1-year low of $32.11 and a 1-year high of $48.46. The stock has a 50-day moving average of $44.01 and a 200-day moving average of $41.1. The company has a market cap of $1.062 billion and a P/E ratio of 68.14.
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. Analysts expect that Abaxis will post $0.95 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 17th. Shareholders of record on Wednesday, September 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 0.84%.
ABAX has been the subject of a number of recent research reports. Analysts at Bank of America upgraded shares of Abaxis from an “underperform” rating to a “neutral” rating in a research note on Monday. They now have a $48.00 price target on the stock, up previously from $36.00. Separately, analysts at Canaccord Genuity raised their price target on shares of Abaxis from $39.00 to $40.00 in a research note on Friday, July 25th. They now have a “hold” rating on the stock. Finally, 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. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.