Tiverton Asset Management LLC lowered its stake in shares of ABAXIS, Inc. (NASDAQ:ABAX) by 24.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,242 shares of the medical research company’s stock after selling 32,058 shares during the period. Tiverton Asset Management LLC owned 0.43% of ABAXIS worth $5,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of ABAXIS by 5.8% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,132,117 shares of the medical research company’s stock valued at $166,065,000 after buying an additional 171,541 shares during the last quarter. BlackRock Inc. raised its position in shares of ABAXIS by 132,779.9% during the first quarter. BlackRock Inc. now owns 2,689,490 shares of the medical research company’s stock valued at $130,442,000 after buying an additional 2,687,466 shares during the last quarter. Vanguard Group Inc. raised its position in shares of ABAXIS by 1.5% during the first quarter. Vanguard Group Inc. now owns 1,947,079 shares of the medical research company’s stock valued at $94,433,000 after buying an additional 28,990 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of ABAXIS by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 661,238 shares of the medical research company’s stock valued at $32,070,000 after buying an additional 25,847 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of ABAXIS by 6.5% during the first quarter. Wells Fargo & Company MN now owns 632,647 shares of the medical research company’s stock valued at $30,683,000 after buying an additional 38,862 shares during the last quarter. Hedge funds and other institutional investors own 97.27% of the company’s stock.

Shares of ABAXIS, Inc. (NASDAQ:ABAX) traded down 0.620% during midday trading on Friday, reaching $44.055. 53,951 shares of the company traded hands. The firm has a market capitalization of $999.61 million, a PE ratio of 31.112 and a beta of 0.81. ABAXIS, Inc. has a 1-year low of $43.72 and a 1-year high of $55.95. The stock has a 50 day moving average price of $46.35 and a 200 day moving average price of $48.78.

ABAXIS (NASDAQ:ABAX) last announced its earnings results on Thursday, July 27th. The medical research company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.05). The business had revenue of $58.26 million for the quarter, compared to analysts’ expectations of $60.37 million. ABAXIS had a net margin of 14.12% and a return on equity of 10.85%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business earned $0.30 EPS. Analysts expect that ABAXIS, Inc. will post $1.13 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a $0.14 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.56 dividend on an annualized basis and a yield of 1.26%. ABAXIS’s payout ratio is currently 39.72%.

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ABAX has been the topic of several recent analyst reports. Stifel Nicolaus reiterated a “hold” rating and set a $48.00 price objective on shares of ABAXIS in a research report on Friday, July 14th. Zacks Investment Research upgraded shares of ABAXIS from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Bank of America Corporation reiterated an “underperform” rating and set a $42.00 price objective on shares of ABAXIS in a research report on Wednesday, August 23rd. BidaskClub cut shares of ABAXIS from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. Finally, Aegis initiated coverage on shares of ABAXIS in a research report on Friday, June 9th. They set a “hold” rating and a $56.50 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. ABAXIS currently has an average rating of “Hold” and an average target price of $48.63.

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.

Institutional Ownership by Quarter for ABAXIS (NASDAQ:ABAX)

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