Press coverage about Abaxis (NASDAQ:ABAX) has trended positive recently, according to Accern Sentiment Analysis. The research group identifies negative and positive press coverage by reviewing more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Abaxis earned a media sentiment score of 0.30 on Accern’s scale. Accern also assigned media headlines about the medical research company an impact score of 46.3949735127595 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Abaxis (ABAX) opened at $67.79 on Thursday. The company has a market capitalization of $1,487.63, a PE ratio of 62.77, a price-to-earnings-growth ratio of 11.18 and a beta of 1.26. Abaxis has a twelve month low of $43.66 and a twelve month high of $78.53.
Abaxis (NASDAQ:ABAX) last announced its earnings results on Thursday, January 25th. The medical research company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.05. The firm had revenue of $59.70 million for 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%. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.30 EPS. equities research analysts predict that Abaxis will post 1.16 EPS for the current year.
Abaxis declared that its Board of Directors has approved a stock buyback program on Tuesday, October 24th that authorizes the company to buyback $21.00 million in outstanding shares. This buyback authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
Several equities research analysts recently weighed in on the company. Bank of America raised their price objective on Abaxis from $46.00 to $48.00 and gave the company a “sell” rating in a report on Thursday, February 8th. Zacks Investment Research downgraded Abaxis from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. BidaskClub raised Abaxis from a “sell” rating to a “hold” rating in a report on Tuesday, January 30th. Canaccord Genuity reissued a “hold” rating and set a $65.00 price objective on shares of Abaxis in a report on Monday, January 29th. Finally, Stifel Nicolaus raised their price objective on Abaxis from $48.00 to $57.00 and gave the company a “hold” rating in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. Abaxis has an average rating of “Hold” and an average price target of $62.30.
In other Abaxis news, Director Prithipal Singh sold 2,000 shares of Abaxis stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $74.63, for a total transaction of $149,260.00. Following the transaction, the director now directly owns 44,000 shares of the company’s stock, valued at approximately $3,283,720. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Craig Tockman sold 1,650 shares of Abaxis stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $74.33, for a total value of $122,644.50. Following the transaction, the vice president now directly owns 10,866 shares in the company, valued at $807,669.78. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by insiders.
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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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