MetLife Investment Advisors LLC decreased its stake in Abaxis Inc (NASDAQ:ABAX) by 12.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 9,728 shares of the medical research company’s stock after selling 1,418 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Abaxis were worth $687,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. We Are One Seven LLC purchased a new stake in shares of Abaxis in the fourth quarter worth about $108,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Abaxis by 154.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,085 shares of the medical research company’s stock worth $147,000 after buying an additional 1,265 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Abaxis in the first quarter worth about $181,000. PEAK6 Investments L.P. purchased a new stake in shares of Abaxis in the fourth quarter worth about $202,000. Finally, Gotham Asset Management LLC purchased a new stake in shares of Abaxis in the fourth quarter worth about $203,000. 93.62% of the stock is owned by institutional investors.
Shares of Abaxis opened at $83.11 on Tuesday, according to Marketbeat Ratings. The stock has a market capitalization of $1.90 billion, a P/E ratio of 64.43, a price-to-earnings-growth ratio of 5.15 and a beta of 1.25. Abaxis Inc has a one year low of $43.66 and a one year high of $83.98.
Abaxis (NASDAQ:ABAX) last issued its quarterly earnings results on Thursday, April 26th. The medical research company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 10.65% and a net margin of 11.11%. Abaxis’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.33 earnings per share. equities analysts forecast that Abaxis Inc will post 1.48 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Friday, June 1st were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, May 31st. This represents a $0.72 dividend on an annualized basis and a yield of 0.87%. This is an increase from Abaxis’s previous quarterly dividend of $0.16. Abaxis’s dividend payout ratio is currently 55.81%.
In other Abaxis news, Director Achim Henkel sold 6,000 shares of the stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $68.06, for a total transaction of $408,360.00. Following the transaction, the director now owns 83,344 shares of the company’s stock, valued at approximately $5,672,392.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Prithipal Singh sold 20,000 shares of the stock in a transaction that occurred on Friday, May 18th. The stock was sold at an average price of $83.31, for a total value of $1,666,200.00. Following the transaction, the director now directly owns 38,400 shares in the company, valued at approximately $3,199,104. The disclosure for this sale can be found here. Insiders sold 35,533 shares of company stock valued at $2,865,968 in the last three months. 4.30% of the stock is currently owned by company insiders.
Several equities research analysts have recently weighed in on ABAX shares. Zacks Investment Research downgraded Abaxis from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 30th. Credit Suisse Group raised Abaxis from an “underperform” rating to a “neutral” rating in a research report on Wednesday, May 16th. Stifel Nicolaus upped their target price on Abaxis from $57.00 to $62.00 and gave the stock a “hold” rating in a research report on Friday, April 27th. Sidoti reaffirmed a “neutral” rating on shares of Abaxis in a research report on Thursday, May 31st. Finally, ValuEngine raised Abaxis from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Abaxis currently has a consensus rating of “Hold” and an average price target of $63.50.
Abaxis Company 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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