PDT Partners LLC Trims Stake in ABAXIS, Inc. (ABAX)
PDT Partners LLC cut its stake in shares of ABAXIS, Inc. (NASDAQ:ABAX) by 22.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,700 shares of the medical research company’s stock after selling 6,100 shares during the quarter. PDT Partners LLC owned 0.09% of ABAXIS worth $1,098,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stifel Financial Corp boosted its stake in shares of ABAXIS by 5.2% during the 2nd quarter. Stifel Financial Corp now owns 23,634 shares of the medical research company’s stock worth $1,250,000 after acquiring an additional 1,163 shares in the last quarter. Numeric Investors LLC bought a new stake in shares of ABAXIS during the 2nd quarter worth $361,000. Voya Investment Management LLC boosted its stake in shares of ABAXIS by 7.5% during the 2nd quarter. Voya Investment Management LLC now owns 10,764 shares of the medical research company’s stock worth $571,000 after acquiring an additional 751 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of ABAXIS by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 672,229 shares of the medical research company’s stock worth $35,642,000 after acquiring an additional 10,991 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of ABAXIS by 5.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 25,386 shares of the medical research company’s stock worth $1,346,000 after acquiring an additional 1,424 shares in the last quarter. 97.27% of the stock is owned by institutional investors and hedge funds.
Shares of ABAXIS, Inc. (NASDAQ ABAX) opened at 46.41 on Friday. The stock’s 50 day moving average price is $45.44 and its 200 day moving average price is $48.29. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 32.78 and a beta of 0.82. ABAXIS, Inc. has a 1-year low of $43.66 and a 1-year high of $55.95.
ABAXIS (NASDAQ:ABAX) last issued its earnings results on Thursday, July 27th. The medical research company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.05). The business had revenue of $58.26 million for the quarter, compared to the consensus estimate of $60.37 million. ABAXIS had a net margin of 14.12% and a return on equity of 10.85%. The business’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS. Analysts expect that ABAXIS, Inc. will post $1.13 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Wednesday, August 30th. ABAXIS’s payout ratio is 39.72%.
ABAX has been the subject of several research reports. Aegis initiated coverage on ABAXIS in a research note on Friday, June 9th. They set a “hold” rating and a $56.50 price objective for the company. Stifel Nicolaus reissued a “hold” rating and set a $48.00 price objective on shares of ABAXIS in a research note on Friday, July 14th. Zacks Investment Research lowered ABAXIS from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. BidaskClub lowered ABAXIS from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Finally, Bank of America Corporation reissued an “underperform” rating and set a $42.00 price objective on shares of ABAXIS in a research note on Wednesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $48.63.
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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