Ameriprise Financial Inc. Has $8,582,000 Position in Abaxis Inc. (ABAX)
Ameriprise Financial Inc. increased its stake in shares of Abaxis Inc. (NASDAQ:ABAX) by 1.7% during the second quarter, Holdings Channel reports. The fund owned 181,720 shares of the company’s stock after buying an additional 3,061 shares during the period. Ameriprise Financial Inc. owned 0.81% of Abaxis worth $8,582,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Capstone Asset Management Co. raised its stake in shares of Abaxis by 4.4% in the second quarter. Capstone Asset Management Co. now owns 6,890 shares of the company’s stock valued at $325,000 after buying an additional 290 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Abaxis by 121.6% in the second quarter. BNP Paribas Arbitrage SA now owns 6,619 shares of the company’s stock valued at $313,000 after buying an additional 3,632 shares during the last quarter. Invictus RG bought a new stake in shares of Abaxis during the first quarter valued at about $302,000. Pacific Global Investment Management CO bought a new stake in shares of Abaxis during the first quarter valued at about $2,116,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Abaxis during the first quarter valued at about $294,000. Institutional investors and hedge funds own 99.03% of the company’s stock.
Shares of Abaxis Inc. (NASDAQ:ABAX) traded up 1.40% on Wednesday, hitting $52.89. 34,671 shares of the company traded hands. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 38.47 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 firm’s 50 day moving average price is $50.09 and its 200-day moving average price is $47.48.
Abaxis (NASDAQ:ABAX) last released its earnings results on Thursday, July 21st. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.02. The firm earned $57.70 million during the quarter, compared to analysts’ expectations of $58.70 million. Abaxis had a return on equity of 13.03% and a net margin of 14.10%. During the same period in the prior year, the company posted $0.31 earnings per share. On average, equities research analysts expect that Abaxis Inc. will post $1.36 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a $0.12 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $0.48 annualized dividend and a yield of 0.92%. Abaxis’s payout ratio is 34.78%.
Several brokerages have issued reports on ABAX. Feltl & Co. lowered shares of Abaxis from a “hold” rating to a “sell” rating in a research report on Friday, July 22nd. Zacks Investment Research raised shares of Abaxis from a “sell” rating to a “hold” rating in a research note on Tuesday, September 27th. Credit Suisse Group AG reissued a “sell” rating and set a $39.00 price target on shares of Abaxis in a research note on Tuesday, August 16th. Finally, TheStreet raised shares of Abaxis from a “hold” rating to a “buy” rating in a research note on Thursday, June 9th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $45.30.
In other news, Director Prithipal Singh sold 1,500 shares of the 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 directly owns 43,500 shares in the company, valued at approximately $2,188,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Clinton Severson sold 2,000 shares of the stock in a transaction that occurred on 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 owns 574,691 shares of the company’s stock, 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 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.
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