Abaxis Inc (NASDAQ:ABAX) Director Michael D. Casey sold 5,000 shares of the business’s 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 transaction, the director now owns 27,290 shares of the company’s stock, valued at $1,939,500.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of ABAX stock traded down $2.10 on Monday, reaching $68.52. The stock had a trading volume of 124,756 shares, compared to its average volume of 220,874. Abaxis Inc has a 1 year low of $43.66 and a 1 year high of $78.53. The company has a market cap of $1,602.93, a P/E ratio of 53.95, a price-to-earnings-growth ratio of 12.03 and a beta of 1.16.
Abaxis (NASDAQ:ABAX) last announced its earnings results on Thursday, January 25th. The medical research company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.05. The company had revenue of $59.70 million for the quarter, compared to analysts’ expectations of $59.37 million. Abaxis had a return on equity of 10.09% and a net margin of 10.51%. Abaxis’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period last year, the firm earned $0.30 EPS. sell-side analysts expect that Abaxis Inc will post 1.16 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st were given a dividend of $0.16 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.93%. Abaxis’s payout ratio is 50.39%.
A number of equities analysts have recently issued reports on ABAX shares. Zacks Investment Research cut Abaxis from a “hold” rating to a “sell” rating in a report on Tuesday, December 5th. BidaskClub lowered Abaxis from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Northcoast Research raised Abaxis from a “neutral” rating to a “buy” rating in a research report on Friday, January 5th. Raymond James Financial raised Abaxis from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 9th. Finally, UBS raised Abaxis from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. Abaxis currently has a consensus rating of “Hold” and a consensus price target of $62.30.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. We Are One Seven LLC purchased a new position in Abaxis in the fourth quarter worth about $108,000. Victory Capital Management Inc. boosted its position in shares of Abaxis by 42.8% during the third quarter. Victory Capital Management Inc. now owns 3,675 shares of the medical research company’s stock valued at $164,000 after buying an additional 1,101 shares during the period. PEAK6 Investments L.P. purchased a new position in shares of Abaxis during the fourth quarter valued at approximately $202,000. Gotham Asset Management LLC purchased a new position in shares of Abaxis during the fourth quarter valued at approximately $203,000. Finally, UBS Asset Management Americas Inc. purchased a new position in shares of Abaxis during the fourth quarter valued at approximately $217,000. Institutional investors own 99.36% of the company’s stock.
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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