Stifel Financial Corp Increases Stake in Abaxis Inc (ABAX)

Stifel Financial Corp increased its position in shares of Abaxis Inc (NASDAQ:ABAX) by 12.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,512 shares of the medical research company’s stock after buying an additional 2,878 shares during the period. Stifel Financial Corp owned about 0.12% of Abaxis worth $1,183,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ABAX. OxFORD Asset Management LLP bought a new stake in Abaxis during the third quarter valued at about $357,000. Dimensional Fund Advisors LP boosted its position in Abaxis by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 683,986 shares of the medical research company’s stock valued at $30,540,000 after purchasing an additional 11,757 shares in the last quarter. Wells Fargo & Company MN boosted its position in Abaxis by 1.1% during the third quarter. Wells Fargo & Company MN now owns 635,103 shares of the medical research company’s stock valued at $28,357,000 after purchasing an additional 6,974 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Abaxis by 70.5% during the third quarter. JPMorgan Chase & Co. now owns 97,436 shares of the medical research company’s stock valued at $4,318,000 after purchasing an additional 40,292 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Abaxis during the third quarter valued at about $257,000. Hedge funds and other institutional investors own 97.66% of the company’s stock.

Shares of Abaxis Inc (NASDAQ ABAX) opened at $49.61 on Tuesday. The firm has a market capitalization of $1,126.00, a PE ratio of 41.34 and a beta of 0.86. Abaxis Inc has a twelve month low of $43.66 and a twelve month high of $55.44.

Abaxis (NASDAQ:ABAX) last issued its quarterly earnings results on Tuesday, October 24th. The medical research company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.02. The business had revenue of $58.90 million during the quarter, compared to the consensus estimate of $60.85 million. Abaxis had a return on equity of 10.18% and a net margin of 11.98%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the company earned $0.34 earnings per share. research analysts anticipate that Abaxis Inc will post 1.08 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.29%. The ex-dividend date was Thursday, November 30th. This is an increase from Abaxis’s previous quarterly dividend of $0.14. Abaxis’s dividend payout ratio (DPR) is currently 53.33%.

Abaxis announced that its Board of Directors has authorized a stock repurchase 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 usually an indication that the company’s board believes its shares are undervalued.

ABAX has been the topic of a number of recent research reports. TheStreet raised Abaxis from a “c+” rating to a “b-” rating in a research report on Wednesday, November 29th. Zacks Investment Research raised Abaxis from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. Canaccord Genuity reaffirmed a “hold” rating and set a $47.00 price objective (up previously from $46.00) on shares of Abaxis in a research report on Friday, October 27th. Aegis reaffirmed a “hold” rating on shares of Abaxis in a research report on Friday, December 1st. Finally, BidaskClub raised Abaxis from a “sell” rating to a “hold” rating in a report on Thursday, December 21st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Abaxis currently has a consensus rating of “Hold” and an average price target of $47.63.

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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.

Institutional Ownership by Quarter for Abaxis (NASDAQ:ABAX)

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