Tudor Investment Corp ET AL bought a new position in ABAXIS, Inc. (NASDAQ:ABAX) during the first quarter, according to its most recent filing with the SEC. The institutional investor bought 5,478 shares of the medical research company’s stock, valued at approximately $266,000.
Other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. raised its position in shares of ABAXIS by 31.5% in the first quarter. Victory Capital Management Inc. now owns 2,188 shares of the medical research company’s stock worth $106,000 after buying an additional 524 shares in the last quarter. SG Americas Securities LLC raised its position in shares of ABAXIS by 11.2% in the first quarter. SG Americas Securities LLC now owns 2,256 shares of the medical research company’s stock worth $109,000 after buying an additional 228 shares in the last quarter. Invictus RG acquired a new position in shares of ABAXIS during the first quarter worth $112,000. State of Alaska Department of Revenue raised its position in shares of 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 worth $120,000 after buying an additional 50 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its position 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 worth $200,000 after buying an additional 330 shares in the last quarter. Hedge funds and other institutional investors own 98.60% of the company’s stock.
ABAXIS, Inc. (NASDAQ:ABAX) traded down 2.53% during trading on Friday, hitting $46.53. 97,766 shares of the stock were exchanged. ABAXIS, Inc. has a 1-year low of $44.12 and a 1-year high of $55.95. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 32.86 and a beta of 0.81. The company has a 50-day moving average price of $49.58 and a 200 day moving average price of $49.34.
ABAXIS (NASDAQ:ABAX) last posted its quarterly earnings results on Thursday, July 27th. The medical research company reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.05. ABAXIS had a return on equity of 10.85% and a net margin of 14.12%. The business had revenue of $58.26 million during the quarter, compared to the consensus estimate of $60.37 million. During the same quarter in the previous year, the company earned $0.30 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts predict that ABAXIS, Inc. will post $1.13 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.56 annualized dividend and a yield of 1.20%. ABAXIS’s payout ratio is 39.72%.
A number of equities analysts have weighed in on the stock. Aegis assumed coverage on shares of ABAXIS in a research report on Friday, June 9th. They set a “hold” rating and a $56.50 target price for the company. Zacks Investment Research upgraded shares of ABAXIS from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Stifel Nicolaus reiterated a “hold” rating and set a $48.00 target price on shares of ABAXIS in a research report on Friday, July 14th. Finally, BidaskClub lowered shares of ABAXIS from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. ABAXIS has an average rating of “Hold” and a consensus price target of $50.83.
In other ABAXIS news, insider Achim Henkel sold 650 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $48.87, for a total value of $31,765.50. Following the completion of the transaction, the insider now directly owns 58,950 shares in the company, valued at approximately $2,880,886.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.10% of the company’s stock.
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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