Research Analysts’ Recent Ratings Updates for ABAXIS (ABAX)

A number of research firms have changed their ratings and price targets for ABAXIS (NASDAQ: ABAX):

  • 11/10/2017 – ABAXIS was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Abaxis exited the second quarter of fiscal 2018 on a disappointing with revenues lagging the Zacks Consensus Estimate. We are also concerned about the rising operating expenses and a weak operating margin scenario of late. Challenges like competitive bidding continue to hurt the stock. This apart, valuation remains stretched. Overall, in the last three months, Abaxis has been trading below the broader industry. However, a year-over-year increase in revenues buoys optimism. We are looking forward to improved consumable revenues that boosted veterinary sales performance at Abaxis in the quarter. Meanwhile, the company is initiating new sales and marketing strategies. In this regard, recently in September, Abaxis started shipping VetScan UA, urine chemistry analyzer. Abaxis plans additional product launches in fiscal 2018, including the VetScan FUSE connectivity system.”
  • 10/27/2017 – ABAXIS had its “hold” rating reaffirmed by analysts at Canaccord Genuity. They now have a $47.00 price target on the stock, up previously from $46.00.
  • 10/26/2017 – ABAXIS was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Abaxis exited the second quarter of fiscal 2018 on a disappointing with revenues lagging the Zacks Consensus Estimate. We are also concerned about the rising operating expenses and a weak operating margin scenario of late. Challenges like competitive bidding continue to hurt the stock. This apart, valuation remains stretched. Overall, in the last three months, Abaxis has been trading below the broader industry. However, a year-over-year increase in revenues buoys optimism. We are looking forward to improved consumable revenues that boosted veterinary sales performance at Abaxis in the quarter. Meanwhile, the company is initiating new sales and marketing strategies. In this regard, recently in September, Abaxis started shipping VetScan UA, urine chemistry analyzer. Abaxis plans additional product launches in fiscal 2018, including the VetScan FUSE connectivity system.”
  • 10/25/2017 – ABAXIS had its price target lowered by analysts at Bank of America Corporation from $42.00 to $39.00. They now have an “underperform” rating on the stock.

ABAXIS, Inc. (NASDAQ ABAX) traded down $0.61 during trading on Tuesday, hitting $45.85. The stock had a trading volume of 111,100 shares, compared to its average volume of 123,615. ABAXIS, Inc. has a 52 week low of $43.66 and a 52 week high of $55.95. The firm has a market capitalization of $1,054.50, a P/E ratio of 38.72 and a beta of 0.86.

ABAXIS (NASDAQ:ABAX) last posted its earnings results on Tuesday, October 24th. The medical research company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.27 by $0.02. ABAXIS had a return on equity of 10.18% and a net margin of 11.98%. The company had revenue of $58.90 million for the quarter, compared to the consensus estimate of $60.85 million. During the same quarter in the prior year, the business earned $0.34 earnings per share. The firm’s revenue for the quarter was up .5% on a year-over-year basis. equities analysts anticipate that ABAXIS, Inc. will post 1.11 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a $0.16 dividend. This is a boost from ABAXIS’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Thursday, November 30th. ABAXIS’s payout ratio is 46.67%.

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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