ABAXIS, Inc. (ABAX) to Release Quarterly Earnings on Wednesday
ABAXIS, Inc. (NASDAQ:ABAX) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, July 19th. Analysts expect ABAXIS to post earnings of $0.33 per share for the quarter.
ABAXIS (NASDAQ:ABAX) last issued its quarterly earnings results on Thursday, April 27th. The medical research company reported $0.33 EPS for the quarter, hitting analysts’ consensus estimates of $0.33. The company had revenue of $58.20 million during the quarter, compared to analyst estimates of $58.04 million. ABAXIS had a return on equity of 11.37% and a net margin of 14.40%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 earnings per share. On average, analysts expect ABAXIS to post $1.25 EPS for the current fiscal year and $1.34 EPS for the next fiscal year.
Shares of ABAXIS, Inc. (NASDAQ ABAX) opened at 51.72 on Monday. ABAXIS, Inc. has a 52-week low of $44.12 and a 52-week high of $55.95. The stock’s 50 day moving average price is $50.19 and its 200-day moving average price is $49.72. The company has a market capitalization of $1.17 billion, a PE ratio of 35.99 and a beta of 0.84.
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In related news, insider Achim Henkel sold 650 shares of ABAXIS stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $48.87, for a total transaction of $31,765.50. Following the completion of the sale, the insider now directly owns 58,950 shares of the company’s stock, valued at approximately $2,880,886.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 4.10% of the company’s stock.
ABAX has been the subject of a number of recent analyst reports. Zacks Investment Research cut ABAXIS from a “hold” rating to a “sell” rating in a research report on Wednesday, March 29th. Aegis initiated coverage on ABAXIS in a research report on Friday, June 9th. They issued a “hold” rating and a $56.50 price objective for the company. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $48.00 price objective on shares of ABAXIS in a research report on Friday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. ABAXIS currently has an average rating of “Hold” and a consensus target price of $47.88.
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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