Somewhat Favorable Media Coverage Somewhat Unlikely to Impact ABAXIS (ABAX) Share Price

Press coverage about ABAXIS (NASDAQ:ABAX) has trended somewhat positive on Sunday, according to Accern Sentiment Analysis. The research firm scores the sentiment of news coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. ABAXIS earned a media sentiment score of 0.08 on Accern’s scale. Accern also assigned media coverage about the medical research company an impact score of 47.4090835404327 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.

These are some of the headlines that may have impacted Accern Sentiment Analysis’s scoring:

Shares of ABAXIS (ABAX) traded up $0.01 during trading on Friday, reaching $47.49. 126,712 shares of the company were exchanged, compared to its average volume of 111,249. ABAXIS has a 12-month low of $43.66 and a 12-month high of $55.95. The stock has a market cap of $1,077.60, a PE ratio of 39.58 and a beta of 0.86.

ABAXIS (NASDAQ:ABAX) last issued its earnings results on Tuesday, October 24th. The medical research company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. ABAXIS had a return on equity of 10.18% and a net margin of 11.98%. The firm had revenue of $58.90 million for the quarter, compared to the consensus estimate of $60.85 million. During the same quarter in the prior year, the business earned $0.34 earnings per share. The company’s revenue was up .5% compared to the same quarter last year. analysts predict that ABAXIS will post 1.11 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.16 dividend. This is an increase 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 dividend yield of 1.35%. ABAXIS’s dividend payout ratio is presently 46.67%.

ABAXIS announced that its Board of Directors has approved a share repurchase program on Tuesday, October 24th that authorizes the company to repurchase $21.00 million in outstanding shares. This repurchase authorization authorizes the medical research company to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Several analysts have recently issued reports on the stock. Zacks Investment Research cut shares of ABAXIS from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. Bank of America Corporation lowered their price objective on shares of ABAXIS from $42.00 to $39.00 and set an “underperform” rating for the company in a research note on Wednesday, October 25th. Canaccord Genuity reissued 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. 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 reissued a “hold” rating and set a $48.00 price objective 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 given a hold rating and two have issued a buy rating to the company. ABAXIS has a consensus rating of “Hold” and an average target price of $47.63.

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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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