Abaxis Inc. (ABAX) Shares Bought by PineBridge Investments L.P.
PineBridge Investments L.P. increased its position in Abaxis Inc. (NASDAQ:ABAX) by 3.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,646 shares of the company’s stock after buying an additional 94 shares during the period. PineBridge Investments L.P.’s holdings in Abaxis were worth $125,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its position in Abaxis by 0.6% in the second quarter. Nisa Investment Advisors LLC now owns 16,800 shares of the company’s stock worth $793,000 after buying an additional 100 shares during the period. Capstone Asset Management Co. boosted its position in Abaxis by 4.4% in the second quarter. Capstone Asset Management Co. now owns 6,890 shares of the company’s stock worth $325,000 after buying an additional 290 shares during the period. Teacher Retirement System of Texas boosted its position in Abaxis by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 3,022 shares of the company’s stock worth $143,000 after buying an additional 372 shares during the period. Nisa Investment Advisors L.L.C. boosted its position in Abaxis by 7.1% in the first quarter. Nisa Investment Advisors L.L.C. now owns 16,700 shares of the company’s stock worth $758,000 after buying an additional 1,100 shares during the period. Finally, Prudential Financial Inc. boosted its position in Abaxis by 3.9% in the second quarter. Prudential Financial Inc. now owns 52,869 shares of the company’s stock worth $2,497,000 after buying an additional 1,980 shares during the period. 99.03% of the stock is owned by hedge funds and other institutional investors.
Abaxis Inc. (NASDAQ:ABAX) opened at 52.16 on Wednesday. The firm has a market cap of $1.18 billion, a P/E ratio of 37.93 and a beta of 1.00. Abaxis Inc. has a 1-year low of $37.71 and a 1-year high of $58.15. The company has a 50-day moving average price of $50.09 and a 200-day moving average price of $47.48.
Abaxis (NASDAQ:ABAX) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.30 earnings per share 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. Abaxis had a return on equity of 13.03% and a net margin of 14.10%. During the same quarter in the previous year, the company posted $0.31 EPS. On average, equities research analysts forecast that Abaxis Inc. will post $1.36 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a $0.12 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 0.92%. Abaxis’s payout ratio is currently 34.78%.
A number of research firms have commented on ABAX. Zacks Investment Research cut shares of Abaxis from a “hold” rating to a “sell” rating in a research report on Monday, July 25th. Feltl & Co. cut shares of Abaxis from a “hold” rating to a “sell” rating in a research report on Friday, July 22nd. Credit Suisse Group AG reissued a “sell” rating and issued a $39.00 target price on shares of Abaxis in a research report on Tuesday, August 16th. Finally, TheStreet raised shares of Abaxis from a “hold” rating to a “buy” rating in a research report on Thursday, June 9th. Three investment 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. The stock currently has an average rating of “Hold” and an average target price of $45.30.
In related news, Director Prithipal Singh sold 1,500 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,188,050. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Clinton Severson sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $48.29, for a total value of $96,580.00. Following the transaction, the chief executive officer now directly owns 574,691 shares in the company, valued at $27,751,828.39. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.
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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