Brokerages predict that Abaxis (NASDAQ:ABAX) will post $67.84 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Abaxis’ earnings. The lowest sales estimate is $67.40 million and the highest is $68.20 million. Abaxis reported sales of $58.26 million in the same quarter last year, which indicates a positive year over year growth rate of 16.4%. The company is scheduled to report its next quarterly earnings report on Thursday, July 26th.
According to Zacks, analysts expect that Abaxis will report full-year sales of $277.73 million for the current financial year, with estimates ranging from $276.38 million to $278.90 million. For the next financial year, analysts forecast that the firm will report sales of $301.45 million per share, with estimates ranging from $296.10 million to $306.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Abaxis.
Abaxis (NASDAQ:ABAX) last released its earnings results on Thursday, April 26th. The medical research company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.10. Abaxis had a return on equity of 10.65% and a net margin of 11.11%. The firm had revenue of $67.90 million for the quarter, compared to analysts’ expectations of $66.02 million. During the same period in the prior year, the firm posted $0.33 earnings per share. The company’s quarterly revenue was up 16.7% on a year-over-year basis.
ABAX has been the topic of a number of recent research reports. Canaccord Genuity reissued a “hold” rating and issued a $65.00 target price on shares of Abaxis in a research note on Monday, January 29th. Zacks Investment Research cut Abaxis from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Bank of America increased their price objective on Abaxis from $46.00 to $48.00 and gave the company a “sell” rating in a research report on Thursday, February 8th. BidaskClub raised Abaxis from a “sell” rating to a “hold” rating in a research report on Tuesday, January 30th. Finally, ValuEngine raised Abaxis from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Abaxis presently has a consensus rating of “Hold” and an average price target of $62.10.
Shares of Abaxis traded down $0.01, reaching $83.00, during trading on Wednesday, according to MarketBeat.com. The company had a trading volume of 253,594 shares, compared to its average volume of 514,423. Abaxis has a 12-month low of $43.66 and a 12-month high of $83.98. The stock has a market cap of $1.88 billion, a P/E ratio of 64.34, a P/E/G ratio of 5.17 and a beta of 1.19.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, June 1st will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, May 31st. This is a boost from Abaxis’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a dividend yield of 0.87%. Abaxis’s dividend payout ratio (DPR) is 49.61%.
In related news, Director Prithipal Singh sold 20,000 shares of the stock in a transaction on Friday, May 18th. The stock was sold at an average price of $83.31, for a total transaction of $1,666,200.00. Following the sale, the director now directly owns 38,400 shares of the company’s stock, valued at $3,199,104. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Achim Henkel sold 3,600 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $69.08, for a total value of $248,688.00. Following the sale, the insider now directly owns 57,650 shares in the company, valued at $3,982,462. The disclosure for this sale can be found here. Insiders have sold 49,545 shares of company stock worth $3,734,667 over the last ninety days. 4.30% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the business. Raymond James & Associates boosted its position in Abaxis by 8.0% in the fourth quarter. Raymond James & Associates now owns 122,922 shares of the medical research company’s stock worth $6,087,000 after purchasing an additional 9,111 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Abaxis by 21.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 111,019 shares of the medical research company’s stock worth $5,498,000 after purchasing an additional 19,780 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Abaxis by 2.1% in the fourth quarter. Bank of New York Mellon Corp now owns 318,943 shares of the medical research company’s stock worth $15,794,000 after purchasing an additional 6,465 shares during the last quarter. Rhumbline Advisers boosted its position in Abaxis by 7.6% in the fourth quarter. Rhumbline Advisers now owns 72,639 shares of the medical research company’s stock worth $3,597,000 after purchasing an additional 5,107 shares during the last quarter. Finally, Eqis Capital Management Inc. purchased a new position in Abaxis in the fourth quarter worth about $375,000. 94.79% of the stock is currently owned by institutional investors and hedge funds.
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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