Abaxis Inc (NASDAQ:ABAX) Director Michael D. Casey Sells 5,000 Shares

Abaxis Inc (NASDAQ:ABAX) Director Michael D. Casey sold 5,000 shares of the stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $71.07, for a total value of $355,350.00. Following the sale, the director now owns 27,290 shares of the company’s stock, valued at $1,939,500.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Shares of ABAX traded up $0.28 during trading hours on Tuesday, hitting $68.80. The stock had a trading volume of 112,331 shares, compared to its average volume of 219,151. The company has a market cap of $1,602.93, a PE ratio of 53.69, a P/E/G ratio of 12.03 and a beta of 1.16. Abaxis Inc has a 1-year low of $43.66 and a 1-year high of $78.53.

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Abaxis (NASDAQ:ABAX) last released its quarterly earnings results on Thursday, January 25th. The medical research company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The business had revenue of $59.70 million during the quarter, compared to the consensus estimate of $59.37 million. Abaxis had a return on equity of 10.09% and a net margin of 10.51%. The company’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 EPS. equities research analysts predict that Abaxis Inc will post 1.16 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.64 dividend on an annualized basis and a yield of 0.93%. Abaxis’s dividend payout ratio (DPR) is currently 50.39%.

Several analysts have recently commented on the company. ValuEngine upgraded Abaxis from a “hold” rating to a “buy” rating in a research note on Monday. Zacks Investment Research upgraded Abaxis from a “hold” rating to a “strong-buy” rating and set a $79.00 target price for the company in a research note on Tuesday. Canaccord Genuity restated a “hold” rating and issued a $55.00 target price on shares of Abaxis in a research note on Tuesday, January 16th. Bank of America raised their target price on Abaxis from $46.00 to $48.00 and gave the company a “sell” rating in a research note on Thursday, February 8th. Finally, BidaskClub downgraded Abaxis from a “hold” rating to a “sell” rating in a research note on Saturday, January 20th. One analyst has rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $61.10.

Hedge funds have recently added to or reduced their stakes in the business. We Are One Seven LLC acquired a new position in Abaxis during the 4th quarter valued at about $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 valued at $164,000 after purchasing an additional 1,101 shares during the last quarter. PEAK6 Investments L.P. acquired a new position in Abaxis during the 4th quarter valued at about $202,000. Gotham Asset Management LLC acquired a new position in Abaxis during the 4th quarter valued at about $203,000. Finally, UBS Asset Management Americas Inc. acquired a new position in Abaxis during the 4th quarter valued at about $217,000. Institutional investors and hedge funds own 99.36% of the company’s stock.

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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.

Insider Buying and Selling by Quarter for Abaxis (NASDAQ:ABAX)

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