Abaxis Inc (ABAX) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Abaxis Inc (NASDAQ:ABAX) have been given a consensus rating of “Hold” by the eight ratings firms that are covering the company. Three analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $45.00.
ABAX has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Abaxis from a “hold” rating to a “sell” rating in a report on Wednesday, March 29th. Canaccord Genuity set a $46.00 price target on shares of Abaxis and gave the stock a “hold” rating in a research note on Monday, January 23rd. Seaport Global Securities raised shares of Abaxis to a “buy” rating in a research note on Wednesday, February 1st. Finally, Stifel Nicolaus dropped their price target on shares of Abaxis from $50.00 to $48.00 and set a “hold” rating for the company in a research note on Friday, January 27th.
In related news, Director Achim Henkel sold 8,650 shares of Abaxis stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $47.75, for a total transaction of $413,037.50. Following the completion of the transaction, the director now directly owns 68,150 shares of the company’s stock, valued at approximately $3,254,162.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.10% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its stake in Abaxis by 31.5% in the first quarter. Victory Capital Management Inc. now owns 2,188 shares of the medical research company’s stock valued at $106,000 after buying an additional 524 shares during the period. SG Americas Securities LLC boosted its stake in Abaxis by 11.2% in the first quarter. SG Americas Securities LLC now owns 2,256 shares of the medical research company’s stock valued at $109,000 after buying an additional 228 shares during the period. Invictus RG bought a new stake in Abaxis during the first quarter valued at about $112,000. State of Alaska Department of Revenue boosted its stake in Abaxis by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 2,490 shares of the medical research company’s stock valued at $120,000 after buying an additional 50 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in Abaxis by 8.7% in the first quarter. UBS Asset Management Americas Inc. now owns 4,129 shares of the medical research company’s stock valued at $200,000 after buying an additional 330 shares during the period. 98.44% of the stock is owned by hedge funds and other institutional investors.
Abaxis (NASDAQ:ABAX) traded up 1.33% during mid-day trading on Friday, hitting $47.18. 67,051 shares of the stock were exchanged. The company’s 50-day moving average price is $47.76 and its 200 day moving average price is $49.74. Abaxis has a 52 week low of $42.67 and a 52 week high of $55.95. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 32.83 and a beta of 0.88.
Abaxis (NASDAQ:ABAX) last posted its earnings results on Thursday, April 27th. The medical research company reported $0.33 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.33. Abaxis had a net margin of 15.06% and a return on equity of 12.02%. The firm had revenue of $58.20 million for the quarter, compared to the consensus estimate of $58.04 million. During the same period in the previous year, the firm posted $0.36 EPS. The business’s quarterly revenue was up 2.2% on a year-over-year basis. Equities research analysts expect that Abaxis will post $1.22 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.19%. Abaxis’s dividend payout ratio is presently 37.58%.
Abaxis, Inc is a developer, manufacturer and marketer of portable blood analysis systems that are used in medical specialties in human or veterinary patient care to provide clinicians with blood constituent measurements. The Company markets and sells its products around the world through independent distributors and direct sales force.
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