42,575 Shares in ABAXIS, Inc. (ABAX) Purchased by Eaton Vance Management
Eaton Vance Management bought a new stake in shares of ABAXIS, Inc. (NASDAQ:ABAX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 42,575 shares of the medical research company’s stock, valued at approximately $2,257,000. Eaton Vance Management owned approximately 0.19% of ABAXIS as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also made changes to their positions in ABAX. Victory Capital Management Inc. increased its stake in shares of ABAXIS by 31.5% during the first quarter. Victory Capital Management Inc. now owns 2,188 shares of the medical research company’s stock valued at $106,000 after purchasing an additional 524 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of ABAXIS by 11.2% during the first quarter. SG Americas Securities LLC now owns 2,256 shares of the medical research company’s stock valued at $109,000 after purchasing an additional 228 shares in the last quarter. Invictus RG bought a new position in shares of ABAXIS during the first quarter valued at approximately $112,000. UBS Asset Management Americas Inc. increased its stake in shares of ABAXIS by 8.7% during the first quarter. UBS Asset Management Americas Inc. now owns 4,129 shares of the medical research company’s stock valued at $200,000 after purchasing an additional 330 shares in the last quarter. Finally, Stevens Capital Management LP bought a new position in shares of ABAXIS during the first quarter valued at approximately $206,000. 97.27% of the stock is owned by institutional investors and hedge funds.
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Shares of ABAXIS, Inc. (NASDAQ:ABAX) opened at 44.07 on Tuesday. The stock has a market cap of $999.95 million, a PE ratio of 31.12 and a beta of 0.81. ABAXIS, Inc. has a 12-month low of $43.72 and a 12-month high of $55.95. The stock’s 50 day moving average is $46.03 and its 200-day moving average is $48.67.
ABAXIS (NASDAQ:ABAX) last posted its quarterly earnings data on Thursday, July 27th. The medical research company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.05). The firm had revenue of $58.26 million for the quarter, compared to the consensus estimate of $60.37 million. ABAXIS had a return on equity of 10.85% and a net margin of 14.12%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.30 EPS. Equities analysts expect that ABAXIS, Inc. will post $1.13 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a dividend of $0.14 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.56 annualized dividend and a dividend yield of 1.27%. ABAXIS’s dividend payout ratio (DPR) is presently 39.72%.
ABAX has been the subject of a number of analyst reports. BidaskClub downgraded shares of ABAXIS from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Stifel Nicolaus reaffirmed a “hold” rating and set a $48.00 target price on shares of ABAXIS in a research note on Friday, July 14th. Zacks Investment Research raised shares of ABAXIS from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Aegis initiated coverage on shares of ABAXIS in a research note on Friday, June 9th. They set a “hold” rating and a $56.50 target price for the company. Finally, Bank of America Corporation reaffirmed an “underperform” rating and set a $42.00 target price on shares of ABAXIS in a research note on Wednesday, August 23rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $48.63.
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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