ABAXIS, Inc. (NASDAQ:ABAX) – Northcoast Research increased their Q1 2019 earnings estimates for shares of ABAXIS in a research report issued on Wednesday. Northcoast Research analyst E. Snyder now expects that the medical research company will earn $0.28 per share for the quarter, up from their prior forecast of $0.26. Northcoast Research also issued estimates for ABAXIS’s FY2019 earnings at $1.26 EPS.
ABAXIS (NASDAQ:ABAX) last announced its earnings results on Tuesday, October 24th. The medical research company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The company had revenue of $58.90 million during the quarter, compared to the consensus estimate of $60.85 million. ABAXIS had a net margin of 11.98% and a return on equity of 10.18%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 earnings per share.
A number of other equities analysts have also recently issued reports on ABAX. Canaccord Genuity reiterated a “hold” rating and issued a $47.00 price target on shares of ABAXIS in a research note on Friday. Zacks Investment Research cut shares of ABAXIS from a “hold” rating to a “sell” rating in a research note on Thursday. Bank of America Corporation dropped their price target on shares of ABAXIS from $42.00 to $39.00 and set an “underperform” rating on the stock in a research note on Wednesday. BidaskClub cut shares of ABAXIS from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $48.00 price target on shares of ABAXIS in a research note on Friday, July 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $47.63.
Shares of ABAXIS (ABAX) opened at 49.32 on Friday. ABAXIS has a one year low of $43.66 and a one year high of $55.95. The stock has a market cap of $1.12 billion, a P/E ratio of 34.83 and a beta of 0.82. The stock has a 50 day moving average of $45.77 and a 200 day moving average of $48.16.
Large investors have recently modified their holdings of the business. Victory Capital Management Inc. raised its position in ABAXIS by 31.5% in the 1st 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 during the last quarter. SG Americas Securities LLC raised its position in ABAXIS by 11.2% in the 1st 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 during the last quarter. Invictus RG purchased a new position in ABAXIS in the 1st quarter worth about $112,000. UBS Asset Management Americas Inc. raised its position in ABAXIS by 8.7% in the 1st 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 during the last quarter. Finally, State of Alaska Department of Revenue raised its position in ABAXIS by 79.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 4,477 shares of the medical research company’s stock worth $237,000 after buying an additional 1,987 shares during the last quarter. 97.28% of the stock is owned by institutional investors and hedge funds.
ABAXIS declared that its Board of Directors has authorized a share buyback program on Tuesday, October 24th that allows the company to repurchase $21.00 million in shares. This repurchase authorization allows the medical research company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a $0.16 dividend. This is a boost from ABAXIS’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 1.30%. ABAXIS’s payout ratio is presently 46.67%.
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.
What are top analysts saying about ABAXIS Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for ABAXIS Inc. and related companies.