Abaxis Inc. (ABAX) Shares Sold by Old Mutual Global Investors UK Ltd.
Old Mutual Global Investors UK Ltd. reduced its stake in Abaxis Inc. (NASDAQ:ABAX) by 70.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,017 shares of the company’s stock after selling 18,685 shares during the period. Old Mutual Global Investors UK Ltd.’s holdings in Abaxis were worth $378,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. boosted its position in Abaxis by 685.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,102 shares of the company’s stock valued at $186,000 after buying an additional 3,580 shares in the last quarter. Legal & General Group Plc boosted its position in Abaxis by 6.8% in the first quarter. Legal & General Group Plc now owns 5,816 shares of the company’s stock valued at $261,000 after buying an additional 370 shares in the last quarter. Glenmede Trust Co. NA boosted its position in Abaxis by 636.0% in the first quarter. Glenmede Trust Co. NA now owns 6,153 shares of the company’s stock valued at $278,000 after buying an additional 5,317 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Abaxis during the first quarter valued at $294,000. Finally, Invictus RG acquired a new position in Abaxis during the first quarter valued at $302,000. 99.03% of the stock is currently owned by institutional investors and hedge funds.
Abaxis Inc. (NASDAQ:ABAX) traded up 0.45% during mid-day trading on Friday, hitting $49.17. The company had a trading volume of 320,120 shares. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 35.76 and a beta of 1.02. The firm’s 50 day moving average is $49.42 and its 200 day moving average is $46.45. Abaxis Inc. has a 52 week low of $37.71 and a 52 week high of $58.15.
Abaxis (NASDAQ:ABAX) last issued its earnings results on Thursday, July 21st. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.32 by $0.02. Abaxis had a net margin of 14.10% and a return on equity of 13.03%. The business had revenue of $57.70 million for the quarter, compared to analysts’ expectations of $58.70 million. During the same quarter in the prior year, the business posted $0.31 earnings per share. On average, equities research analysts predict that Abaxis Inc. will post $1.36 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, August 30th. This represents a $0.48 annualized dividend and a yield of 0.98%. Abaxis’s dividend payout ratio is 34.78%.
ABAX has been the topic of several research reports. Feltl & Co. lowered Abaxis from a “hold” rating to a “sell” rating in a research note on Friday, July 22nd. TheStreet upgraded Abaxis from a “hold” rating to a “buy” rating in a research note on Thursday, June 9th. Credit Suisse Group AG restated a “sell” rating and issued a $39.00 target price on shares of Abaxis in a research note on Tuesday, August 16th. Finally, Zacks Investment Research upgraded Abaxis from a “sell” rating to a “hold” rating in a research note on Monday, July 4th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $45.30.
In other Abaxis news, Director Prithipal Singh sold 1,500 shares of the stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $50.30, for a total transaction of $75,450.00. Following the sale, the director now directly owns 43,500 shares in the company, valued at approximately $2,188,050. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Clinton Severson sold 2,000 shares of the stock in a transaction on Friday, September 9th. The shares were sold at an average price of $48.29, for a total value of $96,580.00. Following the sale, the chief executive officer now owns 574,691 shares in the company, valued at $27,751,828.39. The disclosure for this sale can be found here. Company insiders own 4.30% of the company’s stock.
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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