Traders Buy High Volume of Call Options on Abaxis (ABAX)
Abaxis (NASDAQ:ABAX) saw unusually large options trading on Thursday. Stock investors acquired 1,103 call options on the company. This is an increase of approximately 1,905% compared to the typical daily volume of 55 call options.
Shares of Abaxis opened at $83.72 on Friday, according to MarketBeat. The firm has a market capitalization of $1.89 billion, a P/E ratio of 64.11, a PEG ratio of 5.29 and a beta of 1.19. Abaxis has a twelve month low of $82.19 and a twelve month high of $83.02.
Abaxis (NASDAQ:ABAX) last issued its earnings results on Thursday, April 26th. The medical research company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.10. Abaxis had a return on equity of 10.65% and a net margin of 11.11%. The business had revenue of $67.90 million for the quarter, compared to analyst estimates of $66.02 million. During the same period last year, the company posted $0.33 EPS. The business’s quarterly revenue was up 16.7% on a year-over-year basis. analysts predict that Abaxis will post 1.44 earnings per share for the current fiscal year.
ABAX has been the topic of a number of recent analyst reports. ValuEngine raised Abaxis from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Zacks Investment Research raised Abaxis from a “hold” rating to a “strong-buy” rating and set a $79.00 target price on the stock in a research report on Tuesday, April 3rd. Credit Suisse Group raised Abaxis from an “underperform” rating to a “neutral” rating in a research report on Wednesday. Bank of America increased their target price on Abaxis from $46.00 to $48.00 and gave the stock a “sell” rating in a research report on Thursday, February 8th. Finally, Stifel Nicolaus increased their target price on Abaxis from $57.00 to $62.00 and gave the stock a “hold” rating in a research report on Friday, April 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Abaxis presently has an average rating of “Hold” and an average price target of $62.10.
In other Abaxis news, insider Achim Henkel sold 3,600 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $69.08, for a total transaction of $248,688.00. Following the transaction, the insider now owns 57,650 shares of the company’s stock, valued at approximately $3,982,462. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Donald Peter Wood sold 10,000 shares of the stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $68.99, for a total value of $689,900.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,012 shares of company stock worth $1,941,059. Corporate insiders own 4.30% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in ABAX. We Are One Seven LLC purchased a new position in Abaxis in the fourth quarter valued at about $108,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Abaxis by 154.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,085 shares of the medical research company’s stock valued at $147,000 after purchasing an additional 1,265 shares during the period. SG Americas Securities LLC purchased a new position in Abaxis in the first quarter valued at about $181,000. PEAK6 Investments L.P. purchased a new position in Abaxis in the fourth quarter valued at about $202,000. Finally, Gotham Asset Management LLC purchased a new position in Abaxis in the fourth quarter valued at about $203,000. 99.28% of the stock is currently owned by institutional investors.
Abaxis Company Profile
Abaxis, Inc develops, manufactures, markets, and sells portable blood analysis systems for use in human or veterinary patient care settings to provide rapid blood constituent measurements for clinicians worldwide. It operates in two segments, Medical Market and Veterinary Market. The company offers Piccolo chemistry analyzers with rapid blood constituent measurements for use in human patient care; and Piccolo profiles that are single-use medical reagents.
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