Abaxis Inc (NASDAQ:ABAX) has been given an average rating of “Hold” by the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $56.67.
Several brokerages have weighed in on ABAX. Bank of America lifted their target price on Abaxis from $46.00 to $48.00 and gave the company a “sell” rating in a research note on Thursday, February 8th. Zacks Investment Research downgraded Abaxis from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. BidaskClub raised Abaxis from a “sell” rating to a “hold” rating in a research note on Tuesday, January 30th. Canaccord Genuity reaffirmed a “hold” rating and set a $65.00 target price on shares of Abaxis in a research note on Monday, January 29th. Finally, Stifel Nicolaus boosted their price objective on Abaxis from $48.00 to $57.00 and gave the stock a “hold” rating in a research note on Friday, January 26th.
Shares of Abaxis (ABAX) opened at $73.06 on Friday. The firm has a market capitalization of $1,701.67, a price-to-earnings ratio of 61.96, a price-to-earnings-growth ratio of 12.77 and a beta of 1.27. Abaxis has a 12 month low of $43.66 and a 12 month high of $78.53.
Abaxis (NASDAQ:ABAX) last announced its earnings results on Thursday, January 25th. The medical research company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.05. The firm had revenue of $59.70 million for the quarter, compared to the consensus estimate of $59.37 million. Abaxis had a return on equity of 10.09% and a net margin of 10.51%. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 EPS. sell-side analysts predict that Abaxis will post 1.16 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend was Wednesday, February 28th. Abaxis’s dividend payout ratio is presently 59.26%.
In other news, Director Michael D. Casey sold 5,000 shares of the business’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $71.07, for a total value of $355,350.00. Following the sale, the director now owns 27,290 shares of the company’s stock, valued at approximately $1,939,500.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Donald Peter Wood sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $68.99, for a total value of $689,900.00. The disclosure for this sale can be found here. Insiders sold a total of 25,662 shares of company stock worth $1,804,604 in the last three months. Company insiders own 4.30% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. First Trust Advisors LP acquired a new stake in shares of Abaxis during the third quarter worth $430,000. Rhumbline Advisers raised its position in shares of Abaxis by 14.1% during the third quarter. Rhumbline Advisers now owns 67,532 shares of the medical research company’s stock worth $3,015,000 after purchasing an additional 8,350 shares during the period. OxFORD Asset Management LLP acquired a new stake in shares of Abaxis during the third quarter worth $357,000. Eqis Capital Management Inc. acquired a new stake in shares of Abaxis during the fourth quarter worth $375,000. Finally, Stevens Capital Management LP acquired a new stake in shares of Abaxis during the third quarter worth $372,000. 99.36% of the stock is currently owned by institutional investors.
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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