Abaxis (NASDAQ:ABAX) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report released on Tuesday.

ABAX has been the topic of several other research reports. Zacks Investment Research raised shares of Abaxis from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. Bank of America reaffirmed an “underperform” rating and issued a $42.00 price objective on shares of Abaxis in a research report on Wednesday, August 23rd. TheStreet raised shares of Abaxis from a “c+” rating to a “b-” rating in a research report on Wednesday, November 29th. Aegis reaffirmed a “hold” rating on shares of Abaxis in a research report on Friday, December 1st. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $47.00 price objective (up previously from $46.00) on shares of Abaxis in a research report on Friday, October 27th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $47.63.

Abaxis (NASDAQ:ABAX) opened at $47.37 on Tuesday. Abaxis has a 12-month low of $43.66 and a 12-month high of $55.95. The firm has a market cap of $1,081.29, a PE ratio of 39.70 and a beta of 0.86.

Abaxis (NASDAQ:ABAX) last released its quarterly earnings results on Tuesday, October 24th. The medical research company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. Abaxis had a net margin of 11.98% and a return on equity of 10.18%. The company had revenue of $58.90 million for the quarter, compared to analyst estimates of $60.85 million. During the same period last year, the firm earned $0.34 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. equities analysts anticipate that Abaxis will post 1.08 EPS for the current fiscal year.

Abaxis announced that its board has initiated a stock repurchase plan on Tuesday, October 24th that allows the company to repurchase $21.00 million in outstanding shares. This repurchase authorization allows the medical research company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Large investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA grew its stake in Abaxis by 61.4% during the second quarter. BNP Paribas Arbitrage SA now owns 7,349 shares of the medical research company’s stock valued at $390,000 after acquiring an additional 2,795 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in Abaxis by 92.0% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 7,928 shares of the medical research company’s stock worth $420,000 after buying an additional 3,799 shares in the last quarter. Vanguard Group Inc. grew its stake in Abaxis by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 1,963,755 shares of the medical research company’s stock worth $104,119,000 after buying an additional 16,676 shares in the last quarter. Legal & General Group Plc grew its stake in Abaxis by 9.9% in the 2nd quarter. Legal & General Group Plc now owns 44,532 shares of the medical research company’s stock worth $2,360,000 after buying an additional 4,017 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in Abaxis by 5.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 100,590 shares of the medical research company’s stock worth $5,334,000 after buying an additional 4,963 shares in the last quarter. 97.68% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Abaxis (NASDAQ:ABAX)

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