ABAXIS (NASDAQ:ABAX)‘s stock had its “hold” rating restated by equities research analysts at Aegis in a research note issued to investors on Friday.

A number of other brokerages also recently commented on ABAX. Zacks Investment Research downgraded shares of ABAXIS from a “hold” rating to a “sell” rating in a report on Thursday, October 26th. Canaccord Genuity reiterated a “hold” rating and issued a $47.00 target price (up from $46.00) on shares of ABAXIS in a report on Friday, October 27th. TheStreet upgraded shares of ABAXIS from a “c+” rating to a “b-” rating in a report on Wednesday, November 29th. Bank of America reiterated an “underperform” rating and issued a $42.00 target price on shares of ABAXIS in a report on Wednesday, August 23rd. Finally, BidaskClub downgraded shares of ABAXIS from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $47.63.

ABAXIS (NASDAQ ABAX) traded down $1.13 during mid-day trading on Friday, hitting $47.10. The company had a trading volume of 156,449 shares, compared to its average volume of 123,088. The company has a market capitalization of $1,069.03, a P/E ratio of 39.25 and a beta of 0.86. ABAXIS has a 12-month low of $43.66 and a 12-month high of $55.95.

ABAXIS (NASDAQ:ABAX) last released its quarterly earnings data on Tuesday, October 24th. The medical research company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.02. The firm had revenue of $58.90 million during the quarter, compared to the consensus estimate of $60.85 million. ABAXIS had a return on equity of 10.18% and a net margin of 11.98%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share. sell-side analysts forecast that ABAXIS will post 1.09 EPS for the current fiscal year.

ABAXIS declared that its Board of Directors has approved a share buyback program on Tuesday, October 24th that permits the company to repurchase $21.00 million in shares. This repurchase authorization permits the medical research company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. increased its holdings in shares of ABAXIS by 31.5% during the first quarter. Victory Capital Management Inc. now owns 2,188 shares of the medical research company’s stock valued at $106,000 after acquiring an additional 524 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of ABAXIS by 11.2% during the first quarter. SG Americas Securities LLC now owns 2,256 shares of the medical research company’s stock valued at $109,000 after acquiring an additional 228 shares in the last quarter. Invictus RG acquired a new position in shares of ABAXIS during the first quarter valued at about $112,000. State of Alaska Department of Revenue increased its holdings in shares of ABAXIS by 2.0% during 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 acquiring an additional 50 shares in the last quarter. Finally, PineBridge Investments L.P. increased its holdings in shares of ABAXIS by 3.7% during the second quarter. PineBridge Investments L.P. now owns 2,646 shares of the medical research company’s stock valued at $125,000 after acquiring an additional 94 shares in the last quarter. Institutional investors and hedge funds own 97.51% of the company’s stock.

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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.

Analyst Recommendations for ABAXIS (NASDAQ:ABAX)

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