Louisiana State Employees Retirement System Has $488,000 Position in ABAXIS, Inc. (ABAX)
Louisiana State Employees Retirement System continued to hold its stake in shares of ABAXIS, Inc. (NASDAQ:ABAX) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,200 shares of the medical research company’s stock at the end of the second quarter. Louisiana State Employees Retirement System’s holdings in ABAXIS were worth $488,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of ABAX. Victory Capital Management Inc. raised its stake in shares of ABAXIS by 31.5% in the first quarter. Victory Capital Management Inc. now owns 2,188 shares of the medical research company’s stock worth $106,000 after buying an additional 524 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of ABAXIS by 11.2% in the first quarter. SG Americas Securities LLC now owns 2,256 shares of the medical research company’s stock worth $109,000 after buying an additional 228 shares in the last quarter. Invictus RG bought a new stake in shares of ABAXIS during the first quarter worth about $112,000. State of Alaska Department of Revenue raised its stake in shares of ABAXIS by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 2,490 shares of the medical research company’s stock worth $120,000 after buying an additional 50 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of ABAXIS by 8.7% in the first quarter. UBS Asset Management Americas Inc. now owns 4,129 shares of the medical research company’s stock worth $200,000 after buying an additional 330 shares in the last quarter. 98.77% of the stock is owned by hedge funds and other institutional investors.
ABAXIS, Inc. (NASDAQ:ABAX) traded up 1.88% during mid-day trading on Friday, hitting $46.65. The company had a trading volume of 136,857 shares. ABAXIS, Inc. has a 52-week low of $44.12 and a 52-week high of $55.95. The company has a market capitalization of $1.05 billion, a P/E ratio of 32.94 and a beta of 0.81. The company has a 50-day moving average price of $50.43 and a 200 day moving average price of $49.39.
ABAXIS (NASDAQ:ABAX) last posted its quarterly earnings results on Thursday, July 27th. The medical research company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by $0.05. The company 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 for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 EPS. On average, analysts forecast that ABAXIS, Inc. will post $1.13 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Wednesday, August 30th. ABAXIS’s dividend payout ratio is currently 39.72%.
A number of analysts have recently issued reports on the stock. BidaskClub lowered shares of ABAXIS from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Zacks Investment Research lowered shares of ABAXIS from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Aegis assumed coverage on shares of ABAXIS in a research note on Friday, June 9th. They set a “hold” rating and a $56.50 target price for the company. Finally, Stifel Nicolaus reissued a “hold” rating and set a $48.00 target price on shares of ABAXIS in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. ABAXIS currently has a consensus rating of “Hold” and an average target price of $47.88.
In other ABAXIS news, insider Achim Henkel sold 650 shares of the stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $48.87, for a total value of $31,765.50. Following the sale, the insider now owns 58,950 shares of the company’s stock, valued at approximately $2,880,886.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is owned by company insiders.
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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