State of Tennessee Treasury Department cut its holdings in Abaxis Inc (NASDAQ:ABAX) by 9.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,729 shares of the medical research company’s stock after selling 1,931 shares during the period. State of Tennessee Treasury Department owned approximately 0.08% of Abaxis worth $878,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. increased its position in shares of Abaxis by 42.8% during the third quarter. Victory Capital Management Inc. now owns 3,675 shares of the medical research company’s stock valued at $164,000 after buying an additional 1,101 shares during the period. UBS Asset Management Americas Inc. bought a new stake in Abaxis during the fourth quarter worth about $217,000. Crossmark Global Holdings Inc. bought a new stake in Abaxis during the fourth quarter worth about $220,000. HL Financial Services LLC bought a new stake in Abaxis during the fourth quarter worth about $231,000. Finally, Bank of Montreal Can boosted its stake in Abaxis by 44.3% during the fourth quarter. Bank of Montreal Can now owns 5,629 shares of the medical research company’s stock worth $278,000 after acquiring an additional 1,727 shares in the last quarter. 99.36% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Abaxis from a “hold” rating to a “strong-buy” rating and set a $79.00 target price on the stock in a research note on Tuesday. ValuEngine upgraded shares of Abaxis from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Bank of America increased their price objective on shares of Abaxis from $46.00 to $48.00 and gave the company a “sell” rating in a research report on Thursday, February 8th. BidaskClub raised shares of Abaxis from a “sell” rating to a “hold” rating in a report on Tuesday, January 30th. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $65.00 target price on shares of Abaxis in a report on Monday, January 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Abaxis has a consensus rating of “Hold” and a consensus price target of $61.10.
ABAX opened at $68.85 on Friday. Abaxis Inc has a fifty-two week low of $43.66 and a fifty-two week high of $78.53. The firm has a market cap of $1,592.72, a P/E ratio of 54.21, a P/E/G ratio of 9.53 and a beta of 1.16.
Abaxis (NASDAQ:ABAX) last released its quarterly earnings data on Thursday, January 25th. The medical research company reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.05. The business had revenue of $59.70 million during the quarter, compared to analyst estimates of $59.37 million. Abaxis had a net margin of 10.51% and a return on equity of 10.09%. Abaxis’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 earnings per share. equities analysts predict that Abaxis Inc will post 1.16 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, March 1st were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend was Wednesday, February 28th. Abaxis’s dividend payout ratio is presently 50.39%.
In other Abaxis news, Director Michael D. Casey sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $71.07, for a total transaction of $355,350.00. Following the transaction, the director now owns 27,290 shares of the company’s stock, valued at approximately $1,939,500.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Donald Peter Wood sold 10,000 shares of Abaxis stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $68.99, for a total transaction of $689,900.00. The disclosure for this sale can be found here. Insiders sold a total of 25,662 shares of company stock worth $1,804,604 in the last ninety days. 4.30% of the stock is currently owned by insiders.
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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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