Wall Street brokerages expect that ABAXIS, Inc. (NASDAQ:ABAX) will post sales of $61.49 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for ABAXIS’s earnings, with estimates ranging from $60.06 million to $63.90 million. ABAXIS posted sales of $58.55 million in the same quarter last year, which would indicate a positive year over year growth rate of 5%. The company is expected to announce its next earnings results on Tuesday, October 24th.

On average, analysts expect that ABAXIS will report full-year sales of $61.49 million for the current financial year, with estimates ranging from $238.59 million to $245.10 million. For the next year, analysts anticipate that the company will report sales of $261.43 million per share, with estimates ranging from $257.80 million to $264.40 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, 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 net margin of 14.12% and a return on equity of 10.85%. The company had revenue of $58.26 million during the quarter, compared to the consensus estimate of $60.37 million. During the same quarter in the previous year, the business posted $0.30 EPS. The firm’s quarterly revenue was up 1.0% on a year-over-year basis.

A number of research analysts recently commented on ABAX shares. Stifel Nicolaus reiterated a “hold” rating and issued a $48.00 price target on shares of ABAXIS in a research note on Friday, July 14th. Zacks Investment Research upgraded shares of ABAXIS from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Aegis started coverage on shares of ABAXIS in a research note on Friday, June 9th. They issued a “hold” rating and a $56.50 price target on the stock. BidaskClub lowered shares of ABAXIS from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Finally, Bank of America Corporation reissued an “underperform” rating and issued a $42.00 price objective on shares of ABAXIS in a report on Wednesday, August 23rd. Two 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. The stock presently has an average rating of “Hold” and a consensus price target of $48.63.

A number of hedge funds and other institutional investors have recently bought and sold shares of ABAX. Teachers Advisors LLC boosted its holdings in ABAXIS by 3.2% in the 4th quarter. Teachers Advisors LLC now owns 40,590 shares of the medical research company’s stock valued at $2,142,000 after purchasing an additional 1,273 shares during the period. Louisiana State Employees Retirement System boosted its holdings in ABAXIS by 1.1% in the 1st quarter. Louisiana State Employees Retirement System now owns 9,200 shares of the medical research company’s stock valued at $446,000 after purchasing an additional 100 shares during the period. Great West Life Assurance Co. Can boosted its holdings in ABAXIS by 5.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 30,821 shares of the medical research company’s stock valued at $1,495,000 after purchasing an additional 1,586 shares during the period. US Bancorp DE boosted its holdings in ABAXIS by 0.9% in the 1st quarter. US Bancorp DE now owns 39,196 shares of the medical research company’s stock valued at $1,901,000 after purchasing an additional 344 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in ABAXIS by 3.2% in the 1st quarter. Bank of New York Mellon Corp now owns 326,957 shares of the medical research company’s stock valued at $15,858,000 after purchasing an additional 10,028 shares during the period. 97.27% of the stock is owned by hedge funds and other institutional investors.

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Shares of ABAXIS (ABAX) opened at 44.25 on Monday. ABAXIS has a 1-year low of $43.72 and a 1-year high of $55.95. The company has a 50 day moving average of $46.13 and a 200 day moving average of $48.73. The company has a market cap of $1.00 billion, a PE ratio of 31.25 and a beta of 0.81.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Wednesday, August 30th. ABAXIS’s dividend payout ratio is currently 39.72%.

About ABAXIS

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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Earnings History and Estimates for ABAXIS (NASDAQ:ABAX)

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