Teacher Retirement System of Texas acquired a new position in shares of Abaxis Inc (NASDAQ:ABAX) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,976 shares of the medical research company’s stock, valued at approximately $395,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in ABAX. First Trust Advisors LP acquired a new stake in Abaxis during the third quarter worth about $430,000. Victory Capital Management Inc. increased its stake in shares of Abaxis by 42.8% in the third quarter. Victory Capital Management Inc. now owns 3,675 shares of the medical research company’s stock valued at $164,000 after purchasing an additional 1,101 shares during the period. Stevens Capital Management LP acquired a new stake in shares of Abaxis in the third quarter valued at approximately $372,000. BNP Paribas Arbitrage SA increased its stake in shares of Abaxis by 60.1% in the third quarter. BNP Paribas Arbitrage SA now owns 11,769 shares of the medical research company’s stock valued at $525,000 after purchasing an additional 4,420 shares during the period. Finally, Municipal Employees Retirement System of Michigan increased its stake in shares of Abaxis by 59.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 8,500 shares of the medical research company’s stock valued at $380,000 after purchasing an additional 3,180 shares during the period. Hedge funds and other institutional investors own 99.36% of the company’s stock.
In related news, Director Michael D. Casey sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $71.07, for a total transaction of $355,350.00. Following the transaction, the director now owns 27,290 shares in the company, valued at $1,939,500.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Craig Tockman sold 1,650 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $74.33, for a total transaction of $122,644.50. Following the transaction, the vice president now owns 10,866 shares in the company, valued at approximately $807,669.78. The disclosure for this sale can be found here. Insiders have sold 25,662 shares of company stock worth $1,804,604 in the last quarter. Company insiders own 4.30% of the company’s stock.
Abaxis (NASDAQ:ABAX) last posted its quarterly earnings data on Thursday, January 25th. The medical research company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.05. Abaxis had a net margin of 10.51% and a return on equity of 10.09%. The business had revenue of $59.70 million for the quarter, compared to analyst estimates of $59.37 million. During the same quarter last year, the business earned $0.30 earnings per share. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. research analysts forecast that Abaxis Inc will post 1.16 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, March 1st were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.85%. Abaxis’s dividend payout ratio is presently 59.26%.
Several equities research analysts have commented on the stock. Bank of America raised their price target on shares of Abaxis from $46.00 to $48.00 and gave the company a “sell” rating in a research note on Thursday, February 8th. Zacks Investment Research lowered shares of Abaxis from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. BidaskClub upgraded shares of Abaxis from a “sell” rating to a “hold” rating in a research note on Tuesday, January 30th. Canaccord Genuity restated a “hold” rating and issued a $65.00 price target on shares of Abaxis in a research note on Monday, January 29th. Finally, Stifel Nicolaus raised their price target on shares of Abaxis from $48.00 to $57.00 and gave the company a “hold” rating in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Abaxis has a consensus rating of “Hold” and a consensus price target of $62.30.
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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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