Comerica Bank Sells 1,245 Shares of ABAXIS, Inc. (ABAX)
Comerica Bank cut its position in shares of ABAXIS, Inc. (NASDAQ:ABAX) by 4.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,473 shares of the medical research company’s stock after selling 1,245 shares during the quarter. Comerica Bank owned approximately 0.11% of ABAXIS worth $1,257,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Legal & General Group Plc boosted its holdings in ABAXIS by 0.7% during the 1st quarter. Legal & General Group Plc now owns 40,515 shares of the medical research company’s stock valued at $1,965,000 after acquiring an additional 280 shares during the period. US Bancorp DE boosted its holdings in ABAXIS by 4.0% during the 2nd quarter. US Bancorp DE now owns 40,780 shares of the medical research company’s stock valued at $2,162,000 after acquiring an additional 1,584 shares during the period. BlackRock Inc. boosted its holdings in ABAXIS by 132,779.9% during the 1st quarter. BlackRock Inc. now owns 2,689,490 shares of the medical research company’s stock valued at $130,442,000 after acquiring an additional 2,687,466 shares during the period. Tokio Marine Asset Management Co. Ltd. purchased a new stake in ABAXIS during the 2nd quarter valued at about $313,000. Finally, JPMorgan Chase & Co. boosted its holdings in ABAXIS by 42.9% during the 1st quarter. JPMorgan Chase & Co. now owns 105,456 shares of the medical research company’s stock valued at $5,114,000 after acquiring an additional 31,637 shares during the period. Hedge funds and other institutional investors own 97.27% of the company’s stock.
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Shares of ABAXIS, Inc. (ABAX) opened at 44.25 on Friday. ABAXIS, Inc. has a one year low of $43.72 and a one year high of $55.95. The stock has a market capitalization of $1.00 billion, a PE ratio of 31.25 and a beta of 0.81. The company’s 50-day moving average price is $46.13 and its 200 day moving average price is $48.73.
ABAXIS (NASDAQ:ABAX) last issued its quarterly earnings data on Thursday, July 27th. The medical research company reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.05). ABAXIS had a return on equity of 10.85% and a net margin of 14.12%. The company had revenue of $58.26 million for the quarter, compared to the consensus estimate of $60.37 million. During the same period in the previous year, the firm earned $0.30 earnings per share. The company’s revenue was up 1.0% compared to the same quarter last year. Analysts anticipate that ABAXIS, Inc. will post $1.13 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.56 annualized dividend and a yield of 1.27%. ABAXIS’s payout ratio is currently 39.72%.
Several brokerages recently weighed in on ABAX. Bank of America Corporation restated an “underperform” rating and set a $42.00 target price on shares of ABAXIS in a report on Wednesday, August 23rd. BidaskClub cut ABAXIS from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research cut ABAXIS from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Aegis began coverage on ABAXIS in a report on Friday, June 9th. They set a “hold” rating and a $56.50 target price for the company. Finally, Stifel Nicolaus restated a “hold” rating and set a $48.00 target price on shares of ABAXIS in a report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. ABAXIS presently has a consensus rating of “Hold” and an average price target of $48.63.
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.
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