Abaxis Inc (NASDAQ:ABAX) – Northcoast Research increased their FY2018 EPS estimates for shares of Abaxis in a report released on Tuesday. Northcoast Research analyst E. Snyder now forecasts that the medical research company will post earnings per share of $1.15 for the year, up from their previous forecast of $1.07. Northcoast Research has a “Buy” rating on the stock. Northcoast Research also issued estimates for Abaxis’ Q4 2018 earnings at $0.29 EPS, Q1 2019 earnings at $0.36 EPS, Q2 2019 earnings at $0.39 EPS, Q3 2019 earnings at $0.36 EPS, Q4 2019 earnings at $0.39 EPS and FY2019 earnings at $1.50 EPS.
Abaxis (NASDAQ:ABAX) last posted its quarterly earnings data on Tuesday, October 24th. The medical research company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. Abaxis had a net margin of 11.98% and a return on equity of 10.18%. The company had revenue of $58.90 million during the quarter, compared to analyst estimates of $60.85 million. During the same quarter last year, the firm posted $0.34 EPS. The business’s revenue for the quarter was up .5% on a year-over-year basis.
Abaxis (ABAX) traded up $8.61 during trading hours on Wednesday, hitting $61.52. 568,400 shares of the stock traded hands, compared to its average volume of 269,467. Abaxis has a one year low of $43.66 and a one year high of $62.70. The company has a market cap of $1,380.00, a price-to-earnings ratio of 51.27 and a beta of 0.86.
Abaxis declared that its Board of Directors has approved a stock repurchase program on Tuesday, October 24th that permits the company to repurchase $21.00 million in shares. This repurchase authorization permits the medical research company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
The company also recently announced 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 dividend yield of 1.04%. This is a boost from Abaxis’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, November 30th. Abaxis’s dividend payout ratio (DPR) is presently 53.33%.
Institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. boosted its holdings in shares of Abaxis by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,574 shares of the medical research company’s stock worth $136,000 after buying an additional 386 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of Abaxis in the second quarter worth about $239,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Abaxis in the third quarter worth about $257,000. Piedmont Investment Advisors LLC acquired a new position in shares of Abaxis in the second quarter worth about $260,000. Finally, Cetera Investment Advisers acquired a new position in shares of Abaxis in the third quarter worth about $263,000. Institutional investors own 97.66% of the company’s stock.
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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.
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