What Will The Effects of a Sidoti Downgrade Be For Abaxis (NASDAQ:ABAX) Shares?

May 16, 2018 - By Adrian Erickson

Abaxis, Inc. (NASDAQ:ABAX) Logo

Investors sentiment decreased to 1.27 in 2017 Q4. Its down 0.05, from 1.32 in 2017Q3. It turned negative, as 12 investors sold Abaxis, Inc. shares while 40 reduced holdings. 25 funds opened positions while 41 raised stakes. 21.66 million shares or 0.81% less from 21.83 million shares in 2017Q3 were reported.

Spark Mngmt Limited Company reported 41,300 shares. Texas Permanent School Fund owns 15,342 shares. Employees Retirement Association Of Colorado accumulated 6,537 shares. Bahl And Gaynor accumulated 16,058 shares. Metropolitan Life Ny reported 0% in Abaxis, Inc. (NASDAQ:ABAX). Sei reported 9,630 shares stake. Eaton Vance invested in 61,220 shares or 0.01% of the stock. Bank Of America Corp De has 0% invested in Abaxis, Inc. (NASDAQ:ABAX) for 4,059 shares. Royal Bancshares Of Canada reported 473,511 shares. Envestnet Asset Mgmt Incorporated, a Illinois-based fund reported 8,641 shares. Parametric Portfolio Assocs Ltd reported 30,102 shares. Ny State Teachers Retirement Systems holds 0.01% of its portfolio in Abaxis, Inc. (NASDAQ:ABAX) for 48,074 shares. Schwab Charles Inv Inc invested 0% of its portfolio in Abaxis, Inc. (NASDAQ:ABAX). Stifel Fincl holds 28,450 shares. Tci Wealth Advsrs Incorporated has invested 0% in Abaxis, Inc. (NASDAQ:ABAX).

Since January 30, 2018, it had 0 insider buys, and 10 insider sales for $2.85 million activity. The insider ARON KENNETH sold $98,266. The insider SINGH PRITHIPAL sold $140,500. The insider Henkel Achim sold $408,356. 5,000 shares valued at $355,327 were sold by CASEY MICHAEL D on Thursday, March 8. $122,652 worth of stock was sold by TOCKMAN CRAIG on Wednesday, January 31. WOOD DONALD PETER sold 10,000 shares worth $689,851.

Abaxis (NASDAQ:ABAX) Receives a Downgrade

Sidoti decreased shares of Abaxis (NASDAQ:ABAX) stock from a Buy rating to a Neutral rating in a note issued to investors and clients on Wednesday morning.

Abaxis, Inc. (NASDAQ:ABAX) Ratings Coverage

Among 6 analysts covering Abaxis (NASDAQ:ABAX), 1 have Buy rating, 1 Sell and 4 Hold. Therefore 17% are positive. Abaxis has $90.0 highest and $48 lowest target. $65’s average target is -22.01% below currents $83.34 stock price. Abaxis had 10 analyst reports since November 30, 2017 according to SRatingsIntel. Stifel Nicolaus maintained the stock with “Hold” rating in Friday, April 27 report. The stock has “Underperform” rating by Bank of America on Thursday, February 8. Canaccord Genuity maintained Abaxis, Inc. (NASDAQ:ABAX) on Tuesday, January 16 with “Hold” rating. Canaccord Genuity maintained Abaxis, Inc. (NASDAQ:ABAX) rating on Monday, January 29. Canaccord Genuity has “Hold” rating and $65.0 target. The stock of Abaxis, Inc. (NASDAQ:ABAX) has “Hold” rating given on Tuesday, January 9 by Raymond James. Northcoast maintained it with “Buy” rating and $72.0 target in Tuesday, January 9 report. The stock of Abaxis, Inc. (NASDAQ:ABAX) has “Hold” rating given on Friday, January 26 by Stephens. Stifel Nicolaus maintained the stock with “Hold” rating in Thursday, January 25 report. Northcoast maintained the stock with “Buy” rating in Monday, January 29 report.

The stock increased 16.15% or $11.59 during the last trading session, reaching $83.34. About 4.19 million shares traded or 2804.89% up from the average. Abaxis, Inc. (NASDAQ:ABAX) has risen 44.47% since May 17, 2017 and is uptrending. It has outperformed by 32.92% the S&P500.

Analysts await Abaxis, Inc. (NASDAQ:ABAX) to report earnings on July, 26. They expect $0.35 EPS, up 25.00 % or $0.07 from last year’s $0.28 per share. ABAX’s profit will be $7.95 million for 59.53 P/E if the $0.35 EPS becomes a reality. After $0.42 actual EPS reported by Abaxis, Inc. for the previous quarter, Wall Street now forecasts -16.67 % negative EPS growth.

Abaxis, Inc. develops, manufactures, markets, and sells portable blood analysis systems for use in human or veterinary patient care settings to provide rapid blood constituent measurements for clinicians worldwide. The company has market cap of $1.89 billion. It operates in two divisions, Medical Market and Veterinary Market. It has a 77.17 P/E ratio. The firm offers Piccolo chemistry analyzers with rapid blood constituent measurements for use in human patient care; and Piccolo profiles that are single-use medical reagents.

More notable recent Abaxis, Inc. (NASDAQ:ABAX) news were published by: Fool.com which released: “Why Under Armour, Boot Barn Holdings, and Abaxis Jumped Today” on May 16, 2018, also Nasdaq.com with their article: “Mid-Morning Market Update: Markets Edge Higher; Macy’s Tops Q1 Estimates” published on May 16, 2018, Benzinga.com published: “A Preview Of Abaxis Q4 Earnings” on April 26, 2018. More interesting news about Abaxis, Inc. (NASDAQ:ABAX) were released by: Businesswire.com and their article: “INVESTOR ALERT: Levi & Korsinsky, LLP Reminds Investors of an Investigation Regarding Whether the Sale of Abaxis …” published on May 16, 2018 as well as Benzinga.com‘s news article titled: “40 Stocks Moving In Wednesday’s Mid-Day Session” with publication date: May 16, 2018.

Abaxis, Inc. (NASDAQ:ABAX) Institutional Positions Chart

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