New York State Teachers Retirement System held its position in Abaxis Inc. (NASDAQ:ABAX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,074 shares of the company’s stock at the end of the second quarter. New York State Teachers Retirement System’s holdings in Abaxis were worth $2,271,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. AMI Asset Management Corp raised its position in Abaxis by 18.5% in the second quarter. AMI Asset Management Corp now owns 196,570 shares of the company’s stock valued at $9,284,000 after buying an additional 30,636 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Abaxis by 0.6% in the second quarter. Nisa Investment Advisors LLC now owns 16,800 shares of the company’s stock worth $793,000 after buying an additional 100 shares in the last quarter. Capstone Asset Management Co. raised its stake in Abaxis by 4.4% in the second quarter. Capstone Asset Management Co. now owns 6,890 shares of the company’s stock worth $325,000 after buying an additional 290 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Abaxis by 121.6% in the second quarter. BNP Paribas Arbitrage SA now owns 6,619 shares of the company’s stock worth $313,000 after buying an additional 3,632 shares in the last quarter. Finally, Invictus RG acquired a new stake in Abaxis during the first quarter worth approximately $302,000. 99.03% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Abaxis Inc. (NASDAQ:ABAX) traded down 0.55% during midday trading on Friday, reaching $51.98. The company had a trading volume of 66,932 shares. The stock has a market capitalization of $1.17 billion, a PE ratio of 37.80 and a beta of 1.00. Abaxis Inc. has a 12-month low of $37.71 and a 12-month high of $58.15. The stock’s 50 day moving average is $50.79 and its 200-day moving average is $47.96.
Abaxis (NASDAQ:ABAX) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by $0.02. Abaxis had a net margin of 14.10% and a return on equity of 13.03%. The company earned $57.70 million during the quarter, compared to the consensus estimate of $58.70 million. During the same quarter last year, the firm posted $0.31 EPS. On average, equities research analysts predict that Abaxis Inc. will post $1.36 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.92%. Abaxis’s dividend payout ratio (DPR) is presently 34.78%.
A number of equities research analysts have recently commented on ABAX shares. Zacks Investment Research lowered Abaxis from a “hold” rating to a “sell” rating in a research report on Monday, July 25th. Credit Suisse Group AG reaffirmed a “sell” rating and set a $39.00 price target on shares of Abaxis in a research report on Tuesday, August 16th. Finally, Feltl & Co. lowered Abaxis from a “hold” rating to a “sell” rating in a research report on Friday, July 22nd. Three analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $45.30.
In other Abaxis news, CEO Clinton Severson sold 2,000 shares of the company’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $48.29, for a total value of $96,580.00. Following the sale, the chief executive officer now owns 574,691 shares in the company, valued at approximately $27,751,828.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Prithipal Singh sold 1,500 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $50.30, for a total value of $75,450.00. Following the completion of the sale, the director now owns 43,500 shares in the company, valued at approximately $2,188,050. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.
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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