BNP Paribas Arbitrage SA raised its stake in shares of ABAXIS, Inc. (NASDAQ:ABAX) by 61.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,349 shares of the medical research company’s stock after purchasing an additional 2,795 shares during the period. BNP Paribas Arbitrage SA’s holdings in ABAXIS were worth $390,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its holdings in ABAXIS by 31.5% during the first quarter. Victory Capital Management Inc. now owns 2,188 shares of the medical research company’s stock valued at $106,000 after purchasing an additional 524 shares in the last quarter. SG Americas Securities LLC lifted its holdings in ABAXIS by 11.2% during the first quarter. SG Americas Securities LLC now owns 2,256 shares of the medical research company’s stock valued at $109,000 after purchasing an additional 228 shares in the last quarter. Invictus RG purchased a new position in ABAXIS during the first quarter valued at $112,000. UBS Asset Management Americas Inc. lifted its holdings in ABAXIS by 8.7% during the first quarter. UBS Asset Management Americas Inc. now owns 4,129 shares of the medical research company’s stock valued at $200,000 after purchasing an additional 330 shares in the last quarter. Finally, Stevens Capital Management LP purchased a new position in ABAXIS during the first quarter valued at $206,000. 97.27% of the stock is currently owned by institutional investors and hedge funds.
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Several research firms have issued reports on ABAX. Bank of America Corporation reaffirmed an “underperform” rating and set a $42.00 price objective on shares of ABAXIS in a report on Wednesday, August 23rd. BidaskClub downgraded shares of ABAXIS from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research downgraded shares of ABAXIS from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Aegis initiated coverage on shares of ABAXIS in a research note on Friday, June 9th. They issued a “hold” rating and a $56.50 price target on the stock. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $48.00 price target on shares of ABAXIS in a research note on Friday, July 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $48.63.
ABAXIS, Inc. (ABAX) opened at 44.25 on Friday. The stock has a market capitalization of $1.00 billion, a P/E ratio of 31.25 and a beta of 0.81. The stock has a 50 day moving average of $46.13 and a 200 day moving average of $48.73. ABAXIS, Inc. has a 1-year low of $43.72 and a 1-year high of $55.95.
ABAXIS (NASDAQ:ABAX) last issued its quarterly earnings data on Thursday, July 27th. The medical research company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.05). The business had revenue of $58.26 million during the quarter, compared to analyst estimates of $60.37 million. ABAXIS had a net margin of 14.12% and a return on equity of 10.85%. ABAXIS’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 earnings per share. On average, analysts expect that ABAXIS, Inc. will post $1.13 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.56 dividend on an annualized basis and a yield of 1.27%. ABAXIS’s payout ratio is 39.72%.
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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