Brokerages expect Abaxis Inc (NASDAQ:ABAX) to report earnings per share (EPS) of $0.35 for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Abaxis’ earnings. The lowest EPS estimate is $0.32 and the highest is $0.37. Abaxis reported earnings per share of $0.28 in the same quarter last year, which indicates a positive year-over-year growth rate of 25%. The business is scheduled to report its next quarterly earnings results on Thursday, July 26th.
On average, analysts expect that Abaxis will report full-year earnings of $1.48 per share for the current financial year, with EPS estimates ranging from $1.45 to $1.52. For the next fiscal year, analysts expect that the company will report earnings of $1.71 per share, with EPS estimates ranging from $1.60 to $1.86. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Abaxis.
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Abaxis (NASDAQ:ABAX) last posted its quarterly earnings data on Thursday, April 26th. The medical research company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.10. Abaxis had a return on equity of 10.65% and a net margin of 11.11%. The company had revenue of $67.90 million during the quarter, compared to analysts’ expectations of $66.02 million. During the same quarter in the prior year, the business earned $0.33 earnings per share. Abaxis’s revenue for the quarter was up 16.7% compared to the same quarter last year.
Several analysts have issued reports on ABAX shares. ValuEngine raised Abaxis from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Zacks Investment Research raised Abaxis from a “hold” rating to a “strong-buy” rating and set a $79.00 price target for the company in a report on Tuesday, April 3rd. Credit Suisse Group raised Abaxis from an “underperform” rating to a “neutral” rating in a report on Wednesday, May 16th. Stifel Nicolaus boosted their price target on Abaxis from $57.00 to $62.00 and gave the company a “hold” rating in a report on Friday, April 27th. Finally, Sidoti lowered Abaxis from a “buy” rating to a “neutral” rating in a report on Wednesday, May 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Abaxis presently has an average rating of “Hold” and a consensus price target of $63.50.
NASDAQ:ABAX traded down $0.06 during mid-day trading on Friday, hitting $82.97. 10,853 shares of the company traded hands, compared to its average volume of 573,530. Abaxis has a one year low of $43.66 and a one year high of $83.98. The firm has a market capitalization of $1.90 billion, a PE ratio of 64.36, a P/E/G ratio of 5.14 and a beta of 1.25.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be paid a $0.18 dividend. This is a positive change from Abaxis’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.87%. Abaxis’s dividend payout ratio is 55.81%.
In other news, Director Prithipal Singh sold 20,000 shares of the company’s stock in a transaction dated Friday, May 18th. The stock was sold at an average price of $83.31, for a total value of $1,666,200.00. Following the completion of the transaction, the director now owns 38,400 shares of the company’s stock, valued at $3,199,104. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kenneth Aron sold 1,533 shares of the company’s stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of $83.11, for a total value of $127,407.63. Following the completion of the transaction, the insider now directly owns 115,493 shares of the company’s stock, valued at approximately $9,598,623.23. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,533 shares of company stock valued at $2,865,968. Corporate insiders own 4.30% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank bought a new position in shares of Abaxis in the first quarter worth about $224,000. Principal Financial Group Inc. boosted its stake in shares of Abaxis by 5.3% in the first quarter. Principal Financial Group Inc. now owns 186,462 shares of the medical research company’s stock worth $13,168,000 after acquiring an additional 9,432 shares during the period. WINTON GROUP Ltd bought a new position in shares of Abaxis in the first quarter worth about $5,756,000. Xact Kapitalforvaltning AB bought a new position in shares of Abaxis in the first quarter worth about $264,000. Finally, Legal & General Group Plc boosted its stake in shares of Abaxis by 5.5% in the first quarter. Legal & General Group Plc now owns 47,181 shares of the medical research company’s stock worth $3,300,000 after acquiring an additional 2,448 shares during the period. 94.50% of the stock is owned by hedge funds and other institutional investors.
Abaxis Company Profile
Abaxis, Inc develops, manufactures, markets, and sells portable blood analysis systems for use in human or veterinary patient care settings 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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