Shares of Abaxis Inc. (NASDAQ:ABAX) fell 1.8% during 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 brokerages have recently commented on ABAX. Credit Suisse Group AG restated a “sell” rating and set a $39.00 price objective on shares of Abaxis in a research report on Tuesday, August 16th. Zacks Investment Research downgraded shares of Abaxis from a “hold” rating to a “sell” rating in a research report on Monday, July 25th. Feltl & Co. downgraded shares of Abaxis from a “hold” rating to a “sell” rating in a research report on Friday, July 22nd. Finally, TheStreet upgraded shares of Abaxis from a “hold” rating to a “buy” rating in a research report on Thursday, June 9th. Four 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’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $45.30.

The stock’s 50 day moving average price is $50.05 and its 200 day moving average price is $45.91. The company has a market cap of $1.12 billion and a P/E ratio of 36.00.

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

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

In related news, Director Richard Bastiani sold 5,000 shares of Abaxis stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $46.75, for a total value of $233,750.00. Following the completion of the transaction, the director now owns 54,400 shares in the company, valued at $2,543,200. The sale 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 completion of the transaction, the director now owns 43,500 shares of the company’s stock, 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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