Zacks: Brokerages Expect ABAXIS, Inc. (NASDAQ:ABAX) to Post $0.32 EPS
Wall Street brokerages forecast that ABAXIS, Inc. (NASDAQ:ABAX) will report earnings per share of $0.32 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for ABAXIS’s earnings. The highest EPS estimate is $0.34 and the lowest is $0.30. ABAXIS posted earnings per share of $0.30 in the same quarter last year, which would indicate a positive year over year growth rate of 6.7%. The company is scheduled to report its next quarterly earnings report after the market closes on Thursday, July 27th.
According to Zacks, analysts expect that ABAXIS will report full-year earnings of $1.25 per share for the current financial year, with EPS estimates ranging from $1.14 to $1.38. For the next financial year, analysts forecast that the business will post earnings of $1.34 per share, with EPS estimates ranging from $1.27 to $1.41. Zacks’ EPS calculations are an average based on a survey of research firms that follow ABAXIS.
ABAXIS (NASDAQ:ABAX) last issued its quarterly earnings data on Thursday, April 27th. The medical research company reported $0.33 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.33. The company had revenue of $58.20 million for the quarter, compared to analyst estimates of $58.04 million. ABAXIS had a net margin of 14.40% and a return on equity of 11.37%. ABAXIS’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company posted $0.36 earnings per share.
A number of equities research analysts have issued reports on ABAX shares. Stifel Nicolaus reiterated a “hold” rating and set a $48.00 target price on shares of ABAXIS in a report on Friday, July 14th. Zacks Investment Research upgraded shares of ABAXIS from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 28th. Finally, Aegis started coverage on shares of ABAXIS in a report on Friday, June 9th. They set a “hold” rating and a $56.50 target price on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $47.88.
Shares of ABAXIS (NASDAQ ABAX) traded down 0.35% during trading on Friday, reaching $51.61. 60,646 shares of the company traded hands. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 35.92 and a beta of 0.84. ABAXIS has a 52 week low of $44.12 and a 52 week high of $55.95. The firm’s 50 day moving average price is $51.81 and its 200-day moving average price is $49.66.
In other ABAXIS news, insider Achim Henkel sold 650 shares of the stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $48.87, for a total value of $31,765.50. Following the sale, the insider now directly owns 58,950 shares of the company’s stock, valued at approximately $2,880,886.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 4.10% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its stake in shares of ABAXIS by 31.5% in the first quarter. Victory Capital Management Inc. now owns 2,188 shares of the medical research company’s stock worth $106,000 after buying an additional 524 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of ABAXIS by 11.2% in the first quarter. SG Americas Securities LLC now owns 2,256 shares of the medical research company’s stock worth $109,000 after buying an additional 228 shares in the last quarter. Invictus RG purchased a new stake in shares of ABAXIS during the first quarter worth approximately $112,000. State of Alaska Department of Revenue increased its stake in shares of 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 worth $120,000 after buying an additional 50 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in shares of 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 worth $200,000 after buying an additional 330 shares in the last quarter. 98.11% of the stock is currently owned by institutional investors.
ABAXIS Company Profile
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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