Abaxis Inc (ABAX) Expected to Post Earnings of $0.32 Per Share

Analysts predict that Abaxis Inc (NASDAQ:ABAX) will post earnings per share of $0.32 for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Abaxis’ earnings, with the highest EPS estimate coming in at $0.32 and the lowest estimate coming in at $0.31. Abaxis reported earnings of $0.33 per share during the same quarter last year, which would suggest a negative year over year growth rate of 3%. The firm is scheduled to issue its next earnings results on Thursday, April 26th.

On average, analysts expect that Abaxis will report full-year earnings of $1.20 per share for the current fiscal year, with EPS estimates ranging from $1.02 to $1.44. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.39 per share, with EPS estimates ranging from $1.10 to $1.50. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Abaxis.

Abaxis (NASDAQ:ABAX) last announced its earnings results on Thursday, January 25th. The medical research company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.05. The company had revenue of $59.70 million for the quarter, compared to analyst estimates of $59.37 million. Abaxis had a return on equity of 10.09% and a net margin of 10.51%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.30 earnings per share.

A number of equities analysts have recently weighed in on ABAX shares. Zacks Investment Research upgraded Abaxis from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Canaccord Genuity reiterated a “hold” rating and set a $65.00 target price on shares of Abaxis in a research note on Monday, January 29th. Northcoast Research upgraded Abaxis from a “neutral” rating to a “buy” rating in a research note on Friday, January 5th. Raymond James Financial upgraded Abaxis from an “underperform” rating to a “market perform” rating in a research note on Tuesday, January 9th. Finally, BidaskClub lowered Abaxis from a “hold” rating to a “sell” rating in a research note on Saturday, January 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $62.30.

Abaxis (NASDAQ:ABAX) opened at $68.65 on Friday. The firm has a market capitalization of $1,558.22, a P/E ratio of 63.56, a PEG ratio of 11.27 and a beta of 1.26. Abaxis has a 52 week low of $43.66 and a 52 week high of $78.53.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Wednesday, February 28th. Abaxis’s dividend payout ratio is currently 59.26%.

In related news, VP Craig Tockman sold 1,650 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $74.33, for a total transaction of $122,644.50. Following the sale, the vice president now owns 10,866 shares of the company’s stock, valued at $807,669.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Prithipal Singh sold 2,000 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $74.63, for a total value of $149,260.00. Following the sale, the director now directly owns 44,000 shares in the company, valued at approximately $3,283,720. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.

Large investors have recently modified their holdings of the stock. We Are One Seven LLC acquired a new stake in Abaxis during the fourth quarter worth approximately $108,000. Victory Capital Management Inc. grew its position in Abaxis by 42.8% during the third quarter. Victory Capital Management Inc. now owns 3,675 shares of the medical research company’s stock worth $164,000 after buying an additional 1,101 shares in the last quarter. PEAK6 Investments L.P. acquired a new stake in Abaxis during the fourth quarter worth approximately $202,000. Gotham Asset Management LLC acquired a new stake in Abaxis during the fourth quarter worth approximately $203,000. Finally, UBS Asset Management Americas Inc. acquired a new stake in Abaxis during the fourth quarter worth approximately $217,000. 99.34% of the stock is currently owned by institutional investors and hedge funds.

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About Abaxis

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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Earnings History and Estimates for Abaxis (NASDAQ:ABAX)

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