Shares of Abaxis Inc. (NASDAQ:ABAX) have earned an average recommendation of “Hold” from the eight ratings firms that are covering the stock. Three equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $45.95.

A number of brokerages recently commented on ABAX. Zacks Investment Research downgraded shares of Abaxis from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 27th. Canaccord Genuity set a $50.00 price objective on shares of Abaxis and gave the stock a “hold” rating in a research note on Saturday, October 15th. Finally, Credit Suisse Group AG reissued a “sell” rating and issued a $39.00 price objective on shares of Abaxis in a research note on Tuesday, August 16th.

Abaxis (NASDAQ:ABAX) opened at 52.74 on Tuesday. The stock has a 50 day moving average price of $50.75 and a 200-day moving average price of $49.02. Abaxis has a 1-year low of $37.71 and a 1-year high of $58.15. The stock has a market capitalization of $1.19 billion, a P/E ratio of 34.20 and a beta of 0.82.

Abaxis (NASDAQ:ABAX) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by $0.01. The firm earned $58.60 million during the quarter, compared to analysts’ expectations of $60.69 million. Abaxis had a net margin of 15.54% and a return on equity of 12.71%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 EPS. Equities research analysts expect that Abaxis will post $1.34 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This is an increase from Abaxis’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.06%. Abaxis’s dividend payout ratio is presently 31.17%.

In other news, CEO Clinton Severson sold 2,000 shares of the business’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $48.29, for a total transaction of $96,580.00. Following the sale, the chief executive officer now directly owns 574,691 shares of the company’s stock, valued at $27,751,828.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Prithipal Singh sold 1,000 shares of the business’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $49.50, for a total transaction of $49,500.00. Following the sale, the director now directly owns 42,500 shares in the company, valued at $2,103,750. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Abaxis by 9.8% in the third quarter. Price T Rowe Associates Inc. MD now owns 188,860 shares of the company’s stock worth $9,749,000 after buying an additional 16,900 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of Abaxis during the third quarter worth $779,000. Principal Financial Group Inc. raised its stake in shares of Abaxis by 10.8% in the third quarter. Principal Financial Group Inc. now owns 165,109 shares of the company’s stock worth $8,523,000 after buying an additional 16,117 shares during the period. American International Group Inc. raised its stake in shares of Abaxis by 1.4% in the third quarter. American International Group Inc. now owns 16,409 shares of the company’s stock worth $847,000 after buying an additional 221 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Abaxis by 3.6% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,536,607 shares of the company’s stock worth $130,940,000 after buying an additional 89,052 shares during the period. 99.07% of the stock is currently owned by hedge funds and other institutional investors.

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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.

5 Day Chart for NASDAQ:ABAX

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