ABAXIS, Inc. (ABAX) Receives Consensus Rating of “Hold” from Analysts
ABAXIS, Inc. (NASDAQ:ABAX) has earned an average recommendation of “Hold” from the eight research firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $47.88.
ABAX has been the topic of several analyst reports. Zacks Investment Research lowered ABAXIS from a “hold” rating to a “sell” rating in a research note on Monday, May 1st. Aegis assumed coverage on ABAXIS in a research report on Friday, June 9th. They set a “hold” rating and a $56.50 price target on the stock. Stifel Nicolaus restated a “hold” rating and set a $48.00 price target on shares of ABAXIS in a research report on Friday, July 14th. Finally, BidaskClub lowered ABAXIS from a “strong-buy” rating to a “buy” rating in a research report on Thursday.
In related news, insider Achim Henkel sold 650 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $48.87, for a total transaction of $31,765.50. Following the sale, the insider now directly owns 58,950 shares in the company, valued at approximately $2,880,886.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.10% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in ABAX. Parametric Portfolio Associates LLC raised its position in shares of ABAXIS by 8.5% in the first quarter. Parametric Portfolio Associates LLC now owns 23,962 shares of the medical research company’s stock worth $1,162,000 after buying an additional 1,885 shares during the last quarter. Karp Capital Management Corp purchased a new position in shares of ABAXIS during the first quarter worth approximately $275,000. UBS Asset Management Americas Inc. raised its position in shares of ABAXIS by 8.7% in the first quarter. UBS Asset Management Americas Inc. now owns 4,129 shares of the medical research company’s stock worth $200,000 after buying an additional 330 shares during the last quarter. Comerica Bank raised its position in shares of ABAXIS by 3.9% in the first quarter. Comerica Bank now owns 25,718 shares of the medical research company’s stock worth $1,269,000 after buying an additional 973 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of ABAXIS by 3.2% in the first quarter. Bank of New York Mellon Corp now owns 326,957 shares of the medical research company’s stock worth $15,858,000 after buying an additional 10,028 shares during the last quarter. Hedge funds and other institutional investors own 98.69% of the company’s stock.
ABAXIS (NASDAQ ABAX) traded up 0.67% on Friday, reaching $46.57. The company had a trading volume of 114,339 shares. ABAXIS has a one year low of $44.12 and a one year high of $55.95. The company has a 50-day moving average of $51.61 and a 200 day moving average of $49.53. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 32.89 and a beta of 0.81.
ABAXIS (NASDAQ:ABAX) last released its quarterly earnings data on Thursday, July 27th. The medical research company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.33 by $0.05. ABAXIS had a net margin of 14.12% and a return on equity of 10.85%. The company had revenue of $58.26 million during the quarter, compared to the consensus estimate of $60.37 million. During the same quarter in the prior year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts predict that ABAXIS will post $1.14 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.56 dividend on an annualized basis and a yield of 1.20%. ABAXIS’s dividend payout ratio (DPR) is presently 39.72%.
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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