Texas Permanent School Fund increased its position in ABAXIS, Inc. (NASDAQ:ABAX) by 1.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,540 shares of the medical research company’s stock after buying an additional 221 shares during the period. Texas Permanent School Fund owned approximately 0.07% of ABAXIS worth $877,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of ABAXIS by 10.3% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,960,576 shares of the medical research company’s stock worth $143,588,000 after buying an additional 276,724 shares during the last quarter. BlackRock Inc. boosted its stake in shares of ABAXIS by 132,779.9% in the first quarter. BlackRock Inc. now owns 2,689,490 shares of the medical research company’s stock worth $130,442,000 after buying an additional 2,687,466 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of ABAXIS by 1.5% in the first quarter. Vanguard Group Inc. now owns 1,947,079 shares of the medical research company’s stock worth $94,433,000 after buying an additional 28,990 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of ABAXIS by 4.1% in the first quarter. Dimensional Fund Advisors LP now owns 661,238 shares of the medical research company’s stock worth $32,070,000 after buying an additional 25,847 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of ABAXIS by 6.5% in the first quarter. Wells Fargo & Company MN now owns 632,647 shares of the medical research company’s stock worth $30,683,000 after buying an additional 38,862 shares during the last quarter. Institutional investors and hedge funds own 98.60% of the company’s stock.
ABAXIS, Inc. (NASDAQ:ABAX) opened at 46.54 on Tuesday. ABAXIS, Inc. has a 1-year low of $44.12 and a 1-year high of $55.95. The stock has a 50 day moving average price of $49.39 and a 200-day moving average price of $49.28. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 32.87 and a beta of 0.81.
ABAXIS (NASDAQ:ABAX) last announced 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 net margin of 14.12% and a return on equity of 10.85%. The business had revenue of $58.26 million during the quarter, compared to analysts’ expectations of $60.37 million. During the same quarter in the prior year, the firm earned $0.30 EPS. ABAXIS’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts forecast that ABAXIS, Inc. will post $1.13 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.14 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.56 annualized dividend and a dividend yield of 1.20%. ABAXIS’s dividend payout ratio is presently 39.72%.
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A number of analysts have commented on ABAX shares. Zacks Investment Research cut ABAXIS from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. BidaskClub cut ABAXIS from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $48.00 price objective on shares of ABAXIS in a research note on Friday, July 14th. Finally, Aegis initiated coverage on ABAXIS in a research note on Friday, June 9th. They issued a “hold” rating and a $56.50 price objective for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $50.83.
In related news, insider Achim Henkel sold 650 shares of ABAXIS stock in a transaction dated 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 owns 58,950 shares in the company, valued at approximately $2,880,886.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.10% of the stock is owned by insiders.
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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