Profund Advisors LLC purchased a new stake in shares of Abaxis Inc (NASDAQ:ABAX) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,916 shares of the medical research company’s stock, valued at approximately $277,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC boosted its position in Abaxis by 4.2% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,817,222 shares of the medical research company’s stock valued at $269,573,000 after buying an additional 153,582 shares during the period. BlackRock Inc. boosted its position in Abaxis by 11.7% during the first quarter. BlackRock Inc. now owns 3,159,985 shares of the medical research company’s stock valued at $223,158,000 after buying an additional 331,135 shares during the period. Dimensional Fund Advisors LP boosted its position in Abaxis by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 710,414 shares of the medical research company’s stock valued at $50,169,000 after buying an additional 2,578 shares during the period. Wells Fargo & Company MN boosted its position in Abaxis by 5.6% during the first quarter. Wells Fargo & Company MN now owns 670,905 shares of the medical research company’s stock valued at $47,379,000 after buying an additional 35,692 shares during the period. Finally, Copeland Capital Management LLC boosted its position in Abaxis by 0.5% during the first quarter. Copeland Capital Management LLC now owns 330,230 shares of the medical research company’s stock valued at $23,321,000 after buying an additional 1,694 shares during the period. Institutional investors and hedge funds own 93.62% of the company’s stock.

ABAX has been the subject of several analyst reports. ValuEngine upgraded shares of Abaxis from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Zacks Investment Research lowered shares of Abaxis from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 30th. Stifel Nicolaus upped their price target on shares of Abaxis from $57.00 to $62.00 and gave the company a “hold” rating in a research report on Friday, April 27th. Credit Suisse Group upgraded shares of Abaxis from an “underperform” rating to a “neutral” rating in a research report on Wednesday, May 16th. Finally, Sidoti lowered shares of Abaxis from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $63.50.

Shares of Abaxis opened at $83.21 on Friday, Marketbeat Ratings reports. The stock has a market cap of $1.90 billion, a PE ratio of 63.76, a PEG ratio of 5.13 and a beta of 1.25. Abaxis Inc has a 12 month low of $43.66 and a 12 month high of $83.98.

Abaxis (NASDAQ:ABAX) last issued its quarterly earnings data on Thursday, April 26th. The medical research company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.32 by $0.10. The firm had revenue of $67.90 million during the quarter, compared to the consensus estimate of $66.02 million. Abaxis had a net margin of 11.11% and a return on equity of 10.65%. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 earnings per share. sell-side analysts predict that Abaxis Inc will post 1.48 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Friday, June 1st were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.87%. This is an increase from Abaxis’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Thursday, May 31st. Abaxis’s dividend payout ratio is 55.81%.

In other news, Director Achim Henkel sold 6,000 shares of the company’s stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $68.06, for a total transaction of $408,360.00. Following the completion of the transaction, the director now directly owns 83,344 shares of the company’s stock, valued at $5,672,392.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Prithipal Singh sold 20,000 shares of the company’s stock in a transaction dated Friday, May 18th. The shares were sold at an average price of $83.31, for a total transaction of $1,666,200.00. Following the transaction, the director now directly owns 38,400 shares of the company’s stock, valued at $3,199,104. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,533 shares of company stock valued at $2,865,968. Insiders own 4.30% of the company’s stock.

Abaxis Profile

Abaxis, Inc develops, manufactures, markets, and sells portable blood analysis systems for use in human or veterinary patient care settings to provide rapid blood constituent measurements for clinicians worldwide. It operates in two segments, Medical Market and Veterinary Market. The company offers Piccolo chemistry analyzers with rapid blood constituent measurements for use in human patient care; and Piccolo profiles that are single-use medical reagents.

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Institutional Ownership by Quarter for Abaxis (NASDAQ:ABAX)

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