Bank of Montreal Can increased its stake in shares of Abaxis Inc (NASDAQ:ABAX) by 44.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,629 shares of the medical research company’s stock after purchasing an additional 1,727 shares during the period. Bank of Montreal Can’s holdings in Abaxis were worth $278,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. raised its position in shares of Abaxis by 42.8% during the 3rd quarter. Victory Capital Management Inc. now owns 3,675 shares of the medical research company’s stock worth $164,000 after purchasing an additional 1,101 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Abaxis during the 3rd quarter worth approximately $257,000. Cetera Investment Advisers acquired a new position in shares of Abaxis during the 3rd quarter worth approximately $263,000. UBS Asset Management Americas Inc. raised its position in shares of Abaxis by 92.0% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 7,928 shares of the medical research company’s stock worth $420,000 after purchasing an additional 3,799 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in shares of Abaxis by 35.6% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,000 shares of the medical research company’s stock worth $357,000 after purchasing an additional 2,100 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.
Abaxis Inc (NASDAQ ABAX) opened at $68.65 on Friday. The firm has a market capitalization of $1,519.63, a price-to-earnings ratio of 63.56, a price-to-earnings-growth ratio of 11.00 and a beta of 1.26. Abaxis Inc has a twelve month low of $43.66 and a twelve month high of $78.53.
Abaxis (NASDAQ:ABAX) last issued its quarterly earnings results on Thursday, January 25th. The medical research company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.05. The company had revenue of $59.70 million during the quarter, compared to the consensus estimate of $59.37 million. Abaxis had a return on equity of 10.09% and a net margin of 10.51%. Abaxis’s revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 EPS. research analysts expect that Abaxis Inc will post 1.2 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.64 annualized dividend and a yield of 0.93%. Abaxis’s dividend payout ratio (DPR) is presently 59.26%.
Several research analysts recently issued reports on the company. Bank of America lifted their price objective on Abaxis from $46.00 to $48.00 and gave the stock a “sell” rating in a research report on Thursday, February 8th. Zacks Investment Research downgraded Abaxis from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. BidaskClub upgraded Abaxis from a “sell” rating to a “hold” rating in a research report on Tuesday, January 30th. Canaccord Genuity restated a “hold” rating and set a $65.00 price objective on shares of Abaxis in a research report on Monday, January 29th. Finally, Stifel Nicolaus lifted their price objective on Abaxis from $48.00 to $57.00 and gave the stock a “hold” rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. Abaxis has a consensus rating of “Hold” and an average target price of $62.30.
In other Abaxis news, Director Prithipal Singh sold 2,000 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $74.63, for a total value of $149,260.00. Following the completion of the transaction, the director now directly owns 44,000 shares in the company, valued at approximately $3,283,720. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Craig Tockman sold 1,650 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $74.33, for a total value of $122,644.50. Following the completion of the transaction, the vice president now owns 10,866 shares of the company’s stock, valued at $807,669.78. The disclosure for this sale can be found here. Insiders own 4.30% of the company’s stock.
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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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