ABAXIS, Inc. (NASDAQ:ABAX) has been given an average rating of “Hold” by the eight brokerages that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $47.88.
Several equities analysts have recently weighed in on the company. Aegis assumed coverage on ABAXIS in a research report on Friday, June 9th. They issued a “hold” rating and a $56.50 target price on the stock. Zacks Investment Research raised ABAXIS from a “sell” rating to a “hold” rating in a report on Tuesday, March 14th.
In related news, insider Achim Henkel sold 650 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $48.87, for a total value of $31,765.50. Following the completion of the sale, the insider now owns 58,950 shares of the company’s stock, valued at $2,880,886.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.10% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in ABAXIS by 132,779.9% in the first quarter. BlackRock Inc. now owns 2,689,490 shares of the medical research company’s stock valued at $130,442,000 after buying an additional 2,687,466 shares during the period. Norges Bank acquired a new stake in ABAXIS during the fourth quarter valued at about $27,404,000. Kayne Anderson Rudnick Investment Management LLC boosted its stake in ABAXIS by 10.3% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,960,576 shares of the medical research company’s stock valued at $143,588,000 after buying an additional 276,724 shares during the period. Russell Investments Group Ltd. acquired a new stake in ABAXIS during the fourth quarter valued at about $4,753,000. Finally, State Street Corp boosted its stake in ABAXIS by 8.9% in the first quarter. State Street Corp now owns 563,999 shares of the medical research company’s stock valued at $27,351,000 after buying an additional 46,118 shares during the period. 98.48% of the stock is owned by institutional investors.
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ABAXIS (ABAX) traded down 1.40% during mid-day trading on Tuesday, reaching $50.86. The company’s stock had a trading volume of 211,046 shares. The firm’s 50 day moving average is $48.82 and its 200-day moving average is $49.72. The company has a market cap of $1.15 billion, a PE ratio of 35.39 and a beta of 0.91. ABAXIS has a 12-month low of $43.57 and a 12-month high of $55.95.
ABAXIS (NASDAQ:ABAX) last released its earnings results on Thursday, April 27th. The medical research company reported $0.33 earnings per share for the quarter, meeting the consensus estimate of $0.33. The business had revenue of $58.20 million for the quarter, compared to the consensus estimate of $58.04 million. ABAXIS had a return on equity of 11.37% and a net margin of 14.40%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 earnings per share. Equities analysts anticipate that ABAXIS will post $1.22 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were issued a $0.14 dividend. The ex-dividend date was Tuesday, May 30th. This represents a $0.56 annualized dividend and a dividend yield of 1.10%. ABAXIS’s dividend payout ratio is presently 39.16%.
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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