Abaxis Inc (ABAX) Holdings Cut by Millennium Management LLC

Millennium Management LLC lessened its stake in shares of Abaxis Inc (NASDAQ:ABAX) by 27.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,075 shares of the medical research company’s stock after selling 17,597 shares during the period. Millennium Management LLC owned about 0.20% of Abaxis worth $3,825,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Aperio Group LLC raised its holdings in Abaxis by 18.6% during the 2nd quarter. Aperio Group LLC now owns 8,736 shares of the medical research company’s stock worth $725,000 after buying an additional 1,370 shares during the period. United Services Automobile Association raised its holdings in Abaxis by 36.4% during the 2nd quarter. United Services Automobile Association now owns 5,467 shares of the medical research company’s stock worth $454,000 after buying an additional 1,460 shares during the period. Rhumbline Advisers raised its holdings in Abaxis by 2.4% during the 2nd quarter. Rhumbline Advisers now owns 66,507 shares of the medical research company’s stock worth $5,521,000 after buying an additional 1,572 shares during the period. Raymond James & Associates raised its holdings in Abaxis by 1.6% during the 2nd quarter. Raymond James & Associates now owns 126,600 shares of the medical research company’s stock worth $10,509,000 after buying an additional 2,010 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in Abaxis by 2.8% during the 2nd quarter. Acadian Asset Management LLC now owns 78,723 shares of the medical research company’s stock worth $6,534,000 after buying an additional 2,121 shares during the period. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Separately, Zacks Investment Research upgraded Abaxis from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a report on Wednesday, June 27th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Abaxis presently has a consensus rating of “Hold” and a consensus target price of $67.00.

Shares of ABAX opened at $83.00 on Friday. The stock has a market capitalization of $1.90 billion, a PE ratio of 64.34, a price-to-earnings-growth ratio of 5.51 and a beta of 1.43. Abaxis Inc has a fifty-two week low of $43.66 and a fifty-two week high of $83.98.

About Abaxis

Abaxis, Inc develops, manufactures, markets, and sells portable blood analysis systems for use in human or veterinary patient care 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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Institutional Ownership by Quarter for Abaxis (NASDAQ:ABAX)

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