Bahl & Gaynor Inc. decreased its holdings in shares of ABAXIS, Inc. (NASDAQ:ABAX) by 10.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,483 shares of the medical research company’s stock after selling 3,455 shares during the quarter. Bahl & Gaynor Inc. owned about 0.13% of ABAXIS worth $1,503,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of ABAX. Teachers Advisors LLC boosted its holdings in shares of ABAXIS by 3.2% during the fourth quarter. Teachers Advisors LLC now owns 40,590 shares of the medical research company’s stock worth $2,142,000 after purchasing an additional 1,273 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in ABAXIS by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 9,200 shares of the medical research company’s stock valued at $446,000 after acquiring an additional 100 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in ABAXIS by 5.4% in the first quarter. Great West Life Assurance Co. Can now owns 30,821 shares of the medical research company’s stock valued at $1,495,000 after acquiring an additional 1,586 shares during the last quarter. US Bancorp DE boosted its holdings in ABAXIS by 0.9% in the first quarter. US Bancorp DE now owns 39,196 shares of the medical research company’s stock valued at $1,901,000 after acquiring an additional 344 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in ABAXIS by 3.2% in the first quarter. Bank of New York Mellon Corp now owns 326,957 shares of the medical research company’s stock valued at $15,858,000 after acquiring an additional 10,028 shares during the last quarter. Institutional investors and hedge funds own 97.27% of the company’s stock.
A number of research analysts recently weighed in on ABAX shares. Stifel Nicolaus reiterated a “hold” rating and issued a $48.00 target price on shares of ABAXIS in a report on Friday, July 14th. Zacks Investment Research upgraded ABAXIS from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 28th. Bank of America Corporation reiterated an “underperform” rating and issued a $42.00 target price on shares of ABAXIS in a report on Wednesday, August 23rd. BidaskClub cut ABAXIS from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 3rd. Finally, Aegis started coverage on ABAXIS in a report on Friday, June 9th. They issued a “hold” rating and a $56.50 target price on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. ABAXIS has a consensus rating of “Hold” and an average price target of $48.63.
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ABAXIS, Inc. (NASDAQ:ABAX) opened at 44.25 on Friday. The firm has a market cap of $1.00 billion, a PE ratio of 31.25 and a beta of 0.81. The company has a 50-day moving average price of $46.13 and a 200-day moving average price of $48.73. ABAXIS, Inc. has a one year low of $43.72 and a one year high of $55.95.
ABAXIS (NASDAQ:ABAX) last posted its quarterly earnings results on Thursday, July 27th. The medical research company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.05). ABAXIS had a return on equity of 10.85% and a net margin of 14.12%. The company had revenue of $58.26 million during the quarter, compared to analyst estimates of $60.37 million. During the same period last year, the company posted $0.30 earnings per share. The company’s revenue was up 1.0% compared to the same quarter last year. Equities analysts predict that ABAXIS, Inc. will post $1.13 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend was Wednesday, August 30th. ABAXIS’s dividend payout ratio (DPR) is presently 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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