Shares of Abaxis Inc. (NASDAQ:ABAX) traded down 1.8% during mid-day trading on Friday . The stock traded as low as $49.33 and last traded at $49.50, with a volume of 161,367 shares trading hands. The stock had previously closed at $50.40.

Several analysts have recently issued reports on the stock. Feltl & Co. cut shares of Abaxis from a “hold” rating to a “sell” rating in a research note on Friday, July 22nd. TheStreet raised shares of Abaxis from a “hold” rating to a “buy” rating in a research note on Thursday, June 9th. Credit Suisse Group AG reissued a “sell” rating and set a $39.00 price objective on shares of Abaxis in a research note on Tuesday, August 16th. Finally, Zacks Investment Research raised shares of Abaxis from a “sell” rating to a “hold” rating in a research note on Monday, July 4th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $45.30.

The firm has a market cap of $1.12 billion and a P/E ratio of 36.00. The company has a 50-day moving average of $50.07 and a 200 day moving average of $45.88.

Abaxis (NASDAQ:ABAX) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.32 by $0.02. The firm had revenue of $57.70 million for the quarter, compared to the consensus estimate of $58.70 million. During the same period last year, the company posted $0.31 EPS. Equities research analysts forecast that Abaxis Inc. will post $1.36 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.97%. The ex-dividend date is Tuesday, August 30th.

In related news, insider Donald Peter Wood sold 8,500 shares of Abaxis stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $50.21, for a total transaction of $426,785.00. Following the transaction, the insider now owns 52,618 shares of the company’s stock, valued at approximately $2,641,949.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Prithipal Singh sold 1,500 shares of Abaxis stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $50.30, for a total transaction of $75,450.00. Following the transaction, the director now directly owns 43,500 shares in the company, valued at approximately $2,188,050. The disclosure for this sale can be found here.

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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