American Capital Management Inc. continued to hold its position in ABAXIS, Inc. (NASDAQ:ABAX) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 80,000 shares of the medical research company’s stock at the end of the second quarter. American Capital Management Inc. owned approximately 0.35% of ABAXIS worth $4,242,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of ABAX. Victory Capital Management Inc. increased its position in ABAXIS by 31.5% in the first quarter. Victory Capital Management Inc. now owns 2,188 shares of the medical research company’s stock valued at $106,000 after buying an additional 524 shares during the last quarter. SG Americas Securities LLC increased its position in ABAXIS by 11.2% in the first quarter. SG Americas Securities LLC now owns 2,256 shares of the medical research company’s stock valued at $109,000 after buying an additional 228 shares during the last quarter. Invictus RG bought a new position in ABAXIS during the first quarter valued at about $112,000. State of Alaska Department of Revenue increased its position in ABAXIS by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 2,490 shares of the medical research company’s stock valued at $120,000 after buying an additional 50 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of ABAXIS by 8.7% in the first quarter. UBS Asset Management Americas Inc. now owns 4,129 shares of the medical research company’s stock valued at $200,000 after buying an additional 330 shares during the period. Institutional investors own 98.77% of the company’s stock.
Shares of ABAXIS, Inc. (NASDAQ ABAX) traded up 1.88% during trading on Friday, hitting $46.65. 136,857 shares of the stock were exchanged. ABAXIS, Inc. has a 52 week low of $44.12 and a 52 week high of $55.95. The firm has a market capitalization of $1.05 billion, a P/E ratio of 32.94 and a beta of 0.81. The firm has a 50 day moving average price of $50.43 and a 200 day moving average price of $49.39.
ABAXIS (NASDAQ:ABAX) last announced its quarterly earnings data on Thursday, July 27th. The medical research company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.33 by $0.05. The firm had revenue of $58.26 million for the quarter, compared to analysts’ expectations of $60.37 million. ABAXIS had a net margin of 14.12% and a return on equity of 10.85%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 EPS. Analysts forecast that ABAXIS, Inc. will post $1.13 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Wednesday, August 30th. ABAXIS’s dividend payout ratio is currently 39.72%.
Several brokerages have recently weighed in on ABAX. Zacks Investment Research lowered shares of ABAXIS from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Aegis began coverage on shares of ABAXIS in a research report on Friday, June 9th. They set a “hold” rating and a $56.50 target price on the stock. BidaskClub lowered shares of ABAXIS from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. Finally, Stifel Nicolaus restated a “hold” rating and issued a $48.00 price target on shares of ABAXIS in a research report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $47.88.
In other ABAXIS news, insider Achim Henkel sold 650 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $48.87, for a total transaction of $31,765.50. Following the completion of the transaction, the insider now owns 58,950 shares of the company’s stock, valued at $2,880,886.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.10% of the company’s stock.
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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