Shares of Abaxis Inc (NASDAQ:ABAX) have received a consensus rating of “Hold” from the eight ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $44.67.
ABAX has been the topic of a number of recent research reports. TheStreet raised Abaxis from a “c+” rating to a “b-” rating in a research note on Wednesday, November 29th. Aegis reaffirmed a “hold” rating on shares of Abaxis in a research note on Friday, December 1st. Zacks Investment Research raised Abaxis from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Canaccord Genuity reaffirmed a “hold” rating and set a $47.00 price objective (up from $46.00) on shares of Abaxis in a research note on Friday, October 27th. Finally, BidaskClub raised Abaxis from a “sell” rating to a “hold” rating in a research note on Thursday, December 21st.
Shares of Abaxis (NASDAQ ABAX) traded down $0.28 during trading hours on Monday, hitting $49.52. The stock had a trading volume of 139,500 shares, compared to its average volume of 123,977. Abaxis has a 52-week low of $43.66 and a 52-week high of $55.44. The company has a market capitalization of $1,123.95, a PE ratio of 41.27 and a beta of 0.86.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were paid a $0.16 dividend. The ex-dividend date was Thursday, November 30th. This is a boost from Abaxis’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a dividend yield of 1.29%. Abaxis’s dividend payout ratio (DPR) is presently 53.33%.
Abaxis announced that its board has initiated a stock buyback program 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 purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Citigroup Inc. grew its stake in shares of Abaxis by 0.5% in the second quarter. Citigroup Inc. now owns 18,967 shares of the medical research company’s stock worth $1,005,000 after purchasing an additional 87 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Abaxis by 0.9% in the second quarter. Arizona State Retirement System now owns 11,834 shares of the medical research company’s stock worth $627,000 after purchasing an additional 100 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Abaxis by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,574 shares of the medical research company’s stock worth $136,000 after purchasing an additional 386 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Abaxis by 7.5% in the second quarter. Voya Investment Management LLC now owns 10,764 shares of the medical research company’s stock worth $571,000 after purchasing an additional 751 shares during the last quarter. Finally, Thrivent Financial For Lutherans grew its stake in shares of Abaxis by 8.4% in the second quarter. Thrivent Financial For Lutherans now owns 13,750 shares of the medical research company’s stock worth $729,000 after purchasing an additional 1,070 shares during the last quarter. 97.66% of the stock is currently owned by institutional investors.
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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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