Rating Change: What To Expect After Abaxis (NASDAQ:ABAX)’s Downgrade Rating From Northcoast?

November 30, 2016 - By Michael Collier

Rating Change: What To Expect After Abaxis (NASDAQ:ABAX)'s Downgrade Rating From Northcoast?

Abaxis (NASDAQ:ABAX) Downgrade

Abaxis (NASDAQ:ABAX) was lowered by Northcoast from a “Buy” rating to a “Neutral” rating in a analysts note shared with investors on 30 November.

Abaxis Inc (NASDAQ:ABAX) Ratings Coverage

Out of 6 analysts covering Abaxis (NASDAQ:ABAX), 0 rate it a “Buy”, 3 “Sell”, while 3 “Hold”. This means 0 are positive. $62 is the highest target while $39 is the lowest. The $42 average target is -17.34% below today’s ($50.81) stock price. Abaxis has been the topic of 11 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The firm earned “Sell” rating on Friday, July 22 by Feltl & Co. CL King initiated Abaxis Inc (NASDAQ:ABAX) on Friday, April 1 with “Neutral” rating. Credit Suisse initiated Abaxis Inc (NASDAQ:ABAX) on Thursday, February 4 with “Underperform” rating. The rating was maintained by Canaccord Genuity on Thursday, November 12 with “Hold”. The firm earned “Buy” rating on Thursday, July 23 by Canaccord Genuity. On Wednesday, October 21 the stock rating was downgraded by Bank of America to “Underperform”. The stock of Abaxis Inc (NASDAQ:ABAX) earned “Hold” rating by Canaccord Genuity on Thursday, October 29. The rating was maintained by Canaccord Genuity on Friday, April 1 with “Hold”.

About 25,171 shares traded hands. Abaxis Inc (NASDAQ:ABAX) has risen 14.55% since April 27, 2016 and is uptrending. It has outperformed by 9.32% the S&P500.

Analysts await Abaxis Inc (NASDAQ:ABAX) to report earnings on January, 26. They expect $0.32 EPS, down 8.57% or $0.03 from last year’s $0.35 per share. ABAX’s profit will be $7.23M for 39.76 P/E if the $0.32 EPS becomes a reality. After $0.34 actual EPS reported by Abaxis Inc for the previous quarter, Wall Street now forecasts -5.88% negative EPS growth.

Insitutional Activity: The institutional sentiment increased to 1.24 in Q2 2016. Its up 0.17, from 1.07 in 2016Q1. The ratio is positive, as 19 funds sold all Abaxis Inc shares owned while 40 reduced positions. 11 funds bought stakes while 52 increased positions. They now own 22.80 million shares or 1.87% more from 22.38 million shares in 2016Q1.

Paloma Prtnrs Mngmt last reported 4,621 shares in the company. Teachers Advisors owns 39,317 shares or 0% of their US portfolio. Schwab Charles Investment Management last reported 82,268 shares in the company. Ameriprise Fincl has invested 0.01% of its portfolio in Abaxis Inc (NASDAQ:ABAX). Wesbanco National Bank & Trust Incorporated last reported 0.02% of its portfolio in the stock. Teachers Retirement Systems Of The State Of Kentucky accumulated 0% or 5,900 shares. Moreover, Retail Bank Of Montreal Can has 0% invested in Abaxis Inc (NASDAQ:ABAX) for 4,833 shares. Bnp Paribas Arbitrage Sa owns 6,619 shares or 0% of their US portfolio. Brown Capital Ltd Liability Corporation, a Maryland-based fund reported 3.79M shares. Paradigm Asset Mngmt Limited Liability Company accumulated 0% or 23,350 shares. The New York-based Tompkins has invested 0% in Abaxis Inc (NASDAQ:ABAX). Quantbot Techs Lp accumulated 148 shares or 0% of the stock. Blackrock Advisors Limited Liability holds 0% or 10,466 shares in its portfolio. Fred Alger Mgmt has 0.08% invested in the company for 313,748 shares. Renaissance Tech Limited holds 226,871 shares or 0.02% of its portfolio.

Insider Transactions: Since June 8, 2016, the stock had 0 buys, and 6 insider sales for $1.03 million net activity. SEVERSON CLINTON sold $96,582 worth of Abaxis Inc (NASDAQ:ABAX) on Friday, September 9. SINGH PRITHIPAL sold 1,000 shares worth $49,500. $150,000 worth of shares were sold by EVENHUIS HENK on Friday, August 5. The insider WOOD DONALD PETER sold $426,778. Shares for $233,736 were sold by BASTIANI RICHARD.

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 has a market cap of $1.15 billion. The Firm markets and sells its products around the world through independent distributors and direct sales force. It has a 33.45 P/E ratio. The Company’s divisions are the medical market and the veterinary market.

According to Zacks Investment Research, “Abaxis, Inc. develops, manufactures and markets portable blood analysis systems for use in any patient-care setting to provide clinicians with rapid blood constituent measurements. The Company’s primary product is a system consisting of a compact 6.9 kilogram analyzer and a series of single-use plastic discs called reagent discs containing all the chemicals required to perform a panel of up to 12 tests. The system can be operated with minimal training and performs multiple routine tests on whole blood, serum or plasma using either venous or fingerstick samples.”

ABAX Company Profile

Abaxis, Inc., incorporated on January 12, 1989, is a developer, maker 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 Firm markets and sells its products around the world through independent distributors and direct sales force. The Company’s divisions are the medical market and the veterinary market. The Company’s subsidiary, Abaxis Europe GmbH, markets and distributes diagnostic systems for medical and veterinary uses in the European and Asia Pacific markets.

More recent Abaxis Inc (NASDAQ:ABAX) news were published by: Prnewswire.com which released: “Abaxis Reports Financial Performance for the Second Quarter of Fiscal 2017” on October 25, 2016. Also Medgadget.com published the news titled: “Veterinary Biochemistry Analyzers Market: Increasing incidences of disease …” on June 07, 2016. Prnewswire.com‘s news article titled: “Abaxis Reports Financial Performance for the First Quarter of Fiscal 2017 and …” with publication date: July 21, 2016 was also an interesting one.

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