Today’s Rating Change: Does Abaxis (ABAX) Look Bad? Northcoast Downgrades It

November 30, 2016 - By Marguerite Chambers

Today's Rating Change: Does Abaxis (ABAX) Look Bad? Northcoast Downgrades It

Abaxis (ABAX) Downgrade

Northcoast cut the shares of Abaxis (ABAX) from a “Buy” rating to a “Neutral” rating in a a note released on 30 November.

About 28,850 shares traded hands. Abaxis Inc (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 $7.24 million for 39.69 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.

Advsrs Asset Management Inc, a Colorado-based fund reported 8,288 shares. Metropolitan Life Insur Co New York has invested 0.01% of its portfolio in Abaxis Inc (NASDAQ:ABAX). The Pennsylvania-based Susquehanna Group Inc Llp has invested 0% in Abaxis Inc (NASDAQ:ABAX). Royal Bank & Trust Of Canada reported 410,403 shares or 0.01% of all its holdings. The Georgia-based Invesco Ltd has invested 0% in Abaxis Inc (NASDAQ:ABAX). Teachers Retirement System Of The State Of Kentucky last reported 0% of its portfolio in the stock. Morgan Stanley holds 0% of its portfolio in Abaxis Inc (NASDAQ:ABAX) for 19,992 shares. Gotham Asset Mngmt Limited Liability last reported 53,899 shares in the company. Brown Capital Management last reported 2.83% of its portfolio in the stock. Huntington Bancorporation reported 1,385 shares or 0% of all its holdings. Blackrock Limited holds 0% or 10,466 shares in its portfolio. Goldman Sachs Grp Inc has invested 0% of its portfolio in Abaxis Inc (NASDAQ:ABAX). Qs Investors Limited owns 675 shares or 0% of their US portfolio. Blackrock Incorporated holds 2,185 shares or 0% of its portfolio. National Bank Of America Corporation De reported 7,948 shares or 0% of all its holdings.

Insider Transactions: Since June 8, 2016, the stock had 0 insider buys, and 6 sales for $1.03 million net activity. 8,500 shares were sold by WOOD DONALD PETER, worth $426,778. $233,736 worth of Abaxis Inc (NASDAQ:ABAX) was sold by BASTIANI RICHARD. SINGH PRITHIPAL sold $49,500 worth of stock or 1,000 shares. SEVERSON CLINTON sold $96,582 worth of Abaxis Inc (NASDAQ:ABAX) on Friday, September 9. Another trade for 3,000 shares valued at $150,000 was made by EVENHUIS HENK on Friday, August 5.

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 33.44 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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