Abaxis Inc (NASDAQ:ABAX) Director Michael D. Casey sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $71.07, for a total transaction of $355,350.00. Following the transaction, the director now owns 27,290 shares in the company, valued at $1,939,500.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of Abaxis stock opened at $74.97 on Monday. Abaxis Inc has a 52 week low of $43.66 and a 52 week high of $78.53. The firm has a market cap of $1,701.67, a P/E ratio of 61.96, a P/E/G ratio of 12.77 and a beta of 1.27.
Abaxis (NASDAQ:ABAX) last announced its quarterly earnings data on Thursday, January 25th. The medical research company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.05. Abaxis had a net margin of 10.51% and a return on equity of 10.09%. The company had revenue of $59.70 million for the quarter, compared to the consensus estimate of $59.37 million. During the same period in the prior year, the firm posted $0.30 EPS. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. analysts predict that Abaxis Inc will post 1.16 EPS for the current year.
Several institutional investors have recently modified their holdings of the company. We Are One Seven LLC acquired a new stake in Abaxis during the 4th quarter worth $108,000. Victory Capital Management Inc. boosted its stake in Abaxis by 42.8% during the 3rd quarter. Victory Capital Management Inc. now owns 3,675 shares of the medical research company’s stock worth $164,000 after purchasing an additional 1,101 shares during the period. PEAK6 Investments L.P. acquired a new stake in Abaxis during the 4th quarter worth $202,000. Gotham Asset Management LLC acquired a new stake in Abaxis during the 4th quarter worth $203,000. Finally, UBS Asset Management Americas Inc. acquired a new stake in Abaxis during the 4th quarter worth $217,000. Institutional investors and hedge funds own 99.36% of the company’s stock.
ABAX has been the subject of several recent analyst reports. TheStreet upgraded shares of Abaxis from a “c+” rating to a “b-” rating in a research note on Wednesday, November 29th. Zacks Investment Research cut shares of Abaxis from a “hold” rating to a “sell” rating in a report on Tuesday, December 5th. Aegis reissued a “hold” rating on shares of Abaxis in a report on Friday, December 1st. BidaskClub cut shares of Abaxis from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Finally, Northcoast Research raised shares of Abaxis from a “neutral” rating to a “buy” rating in a research note on Friday, January 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $62.30.
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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.
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