Shares of ABAXIS, Inc. (NASDAQ:ABAX) have been assigned a consensus rating of “Hold” from the eight brokerages that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $44.67.

A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of ABAXIS from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. Bank of America cut their target price on shares of ABAXIS from $42.00 to $39.00 and set an “underperform” rating for the company in a research report on Wednesday, October 25th. Canaccord Genuity reissued a “hold” rating and set a $47.00 target price (up previously from $46.00) on shares of ABAXIS in a research report on Friday, October 27th. TheStreet raised shares of ABAXIS from a “c+” rating to a “b-” rating in a research report on Wednesday, November 29th. Finally, Aegis reissued a “hold” rating on shares of ABAXIS in a research report on Friday, December 1st.

ABAXIS (NASDAQ ABAX) traded up $0.54 during trading on Thursday, reaching $47.64. 131,405 shares of the company’s stock were exchanged, compared to its average volume of 112,010. The firm has a market cap of $1,081.29, a price-to-earnings ratio of 39.70 and a beta of 0.86. ABAXIS has a 52-week low of $43.66 and a 52-week high of $55.95.

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

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.34%. This is a positive change from ABAXIS’s previous quarterly dividend of $0.14. ABAXIS’s dividend payout ratio is currently 53.33%.

ABAXIS declared that its Board of Directors has approved a share buyback plan on Tuesday, October 24th that authorizes the company to buyback $21.00 million in shares. This buyback authorization authorizes the medical research company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in shares of ABAXIS by 17.6% during the second quarter. Victory Capital Management Inc. now owns 2,574 shares of the medical research company’s stock valued at $136,000 after buying an additional 386 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of ABAXIS during the second quarter valued at about $239,000. Dynamic Technology Lab Private Ltd bought a new stake in ABAXIS in the third quarter valued at about $257,000. Piedmont Investment Advisors LLC bought a new stake in ABAXIS in the second quarter valued at about $260,000. Finally, Cetera Investment Advisers bought a new stake in ABAXIS in the third quarter valued at about $263,000. 97.51% of the stock is owned by institutional investors and hedge funds.

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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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