Abaxis (ABAX) Given Consensus Rating of “Hold” by Analysts

Abaxis (NASDAQ:ABAX) has been assigned a consensus rating of “Hold” from the eleven research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $62.25.

Several analysts have commented on ABAX shares. BidaskClub upgraded shares of Abaxis from a “sell” rating to a “hold” rating in a research note on Thursday, December 21st. Zacks Investment Research upgraded shares of Abaxis from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Northcoast Research upgraded shares of Abaxis from a “neutral” rating to a “buy” rating in a research note on Friday, January 5th. Raymond James Financial upgraded shares of Abaxis from an “underperform” rating to a “market perform” rating in a research note on Tuesday, January 9th. Finally, UBS upgraded shares of Abaxis from an “underperform” rating to a “market perform” rating in a research note on Tuesday, January 9th.

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Shares of ABAX traded up $0.10 during trading hours on Wednesday, reaching $72.31. 4,067 shares of the stock traded hands, compared to its average volume of 201,645. Abaxis has a 52-week low of $43.66 and a 52-week high of $78.53. The stock has a market cap of $1,639.02, a price-to-earnings ratio of 56.86, a price-to-earnings-growth ratio of 9.81 and a beta of 1.16.

Abaxis (NASDAQ:ABAX) last released its earnings results on Thursday, January 25th. The medical research company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. Abaxis had a net margin of 10.51% and a return on equity of 10.09%. The company had revenue of $59.70 million for the quarter, compared to analysts’ expectations of $59.37 million. During the same quarter in the previous year, the company earned $0.30 EPS. Abaxis’s revenue for the quarter was up 13.1% on a year-over-year basis. equities research analysts anticipate that Abaxis will post 1.16 EPS for the current year.

In other news, COO Donald Peter Wood sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $68.99, for a total value of $689,900.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Achim Henkel sold 3,600 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $69.08, for a total transaction of $248,688.00. Following the completion of the sale, the insider now owns 57,650 shares in the company, valued at $3,982,462. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,662 shares of company stock worth $1,804,604. Corporate insiders own 4.30% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Abaxis by 2.7% in the 4th quarter. BlackRock Inc. now owns 2,828,850 shares of the medical research company’s stock worth $140,086,000 after buying an additional 74,468 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Abaxis by 1.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 683,986 shares of the medical research company’s stock valued at $30,540,000 after purchasing an additional 11,757 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Abaxis by 1.1% during the 3rd quarter. Wells Fargo & Company MN now owns 635,103 shares of the medical research company’s stock valued at $28,357,000 after purchasing an additional 6,974 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Abaxis by 2.1% during the 4th quarter. Bank of New York Mellon Corp now owns 318,943 shares of the medical research company’s stock valued at $15,794,000 after purchasing an additional 6,465 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Abaxis by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 209,007 shares of the medical research company’s stock valued at $10,350,000 after purchasing an additional 10,871 shares during the last quarter. Hedge funds and other institutional investors own 99.32% of the company’s stock.

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About Abaxis

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.

Analyst Recommendations for Abaxis (NASDAQ:ABAX)

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