ABAXIS, Inc. (ABAX) Posts Earnings Results
ABAXIS, Inc. (NASDAQ:ABAX) announced its quarterly earnings results on Tuesday. The medical research company reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02, Bloomberg Earnings reports. The company had revenue of $58.90 million for the quarter, compared to analyst estimates of $60.85 million. ABAXIS had a net margin of 14.12% and a return on equity of 10.85%. ABAXIS’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the business earned $0.34 EPS.
ABAXIS (NASDAQ:ABAX) opened at 46.27 on Wednesday. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 32.68 and a beta of 0.82. ABAXIS has a 1-year low of $43.66 and a 1-year high of $55.95. The firm’s 50-day moving average is $45.48 and its 200-day moving average is $48.12.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.38%. This is a positive change from ABAXIS’s previous quarterly dividend of $0.14. ABAXIS’s payout ratio is presently 39.72%.
A number of equities analysts have recently commented on the stock. Bank of America Corporation reissued an “underperform” rating and issued a $42.00 target price on shares of ABAXIS in a research note on Wednesday, August 23rd. BidaskClub downgraded shares of ABAXIS from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Zacks Investment Research downgraded shares of ABAXIS from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $48.00 price target on shares of ABAXIS in a research note on Friday, July 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. ABAXIS currently has a consensus rating of “Hold” and a consensus target price of $48.63.
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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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