Time to Reconsider Abaxis, Inc. (ABAX) After Touching 52-Week High?

May 20, 2018 - By Graig Alexander

Abaxis, Inc. (NASDAQ:ABAX) Logo

Investors sentiment decreased to 1.27 in Q4 2017. Its down 0.05, from 1.32 in 2017Q3. It dropped, 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.
Bridgeway Inc has invested 0.01% of its portfolio in Abaxis, Inc. (NASDAQ:ABAX). 134,811 were reported by Ameriprise Financial. Ny State Teachers Retirement System invested 0.01% in Abaxis, Inc. (NASDAQ:ABAX). State Of Tennessee Treasury Department accumulated 0% or 17,729 shares. Assetmark Inc invested in 0% or 8 shares. Geode Mngmt Ltd Co owns 209,007 shares. Moreover, Parametric Port Associate Limited Liability Corporation has 0% invested in Abaxis, Inc. (NASDAQ:ABAX) for 30,102 shares. 14,129 are held by Thrivent Fincl For Lutherans. Atria Investments Ltd Llc invested 0.02% of its portfolio in Abaxis, Inc. (NASDAQ:ABAX). Fred Alger Inc reported 304,609 shares. Teacher Retirement System Of Texas holds 0% in Abaxis, Inc. (NASDAQ:ABAX) or 7,976 shares. Massachusetts-based State Street Corp has invested 0% in Abaxis, Inc. (NASDAQ:ABAX). M&T Bancshares Corporation holds 0% or 6,314 shares in its portfolio. Fifth Third Savings Bank stated it has 191 shares. Riverhead Capital Management Ltd Liability Corp invested in 0% or 2,253 shares.

Since January 30, 2018, it had 0 buys, and 10 sales for $2.85 million activity. $149,255 worth of Abaxis, Inc. (NASDAQ:ABAX) was sold by SINGH PRITHIPAL. The insider CASEY MICHAEL D sold 5,000 shares worth $355,327. WOOD DONALD PETER had sold 10,000 shares worth $689,851. Another trade for 1,650 shares valued at $122,652 was made by TOCKMAN CRAIG on Wednesday, January 31. ARON KENNETH also sold $98,266 worth of Abaxis, Inc. (NASDAQ:ABAX) on Tuesday, March 6. EVENHUIS HENK sold $333,460 worth of Abaxis, Inc. (NASDAQ:ABAX) on Tuesday, January 30.

The stock of Abaxis, Inc. (NASDAQ:ABAX) hit a new 52-week high and has $86.65 target or 4.00 % above today’s $83.32 share price. The 8 months bullish chart indicates low risk for the $1.89B company. The 1-year high was reported on May, 20 by Barchart.com. If the $86.65 price target is reached, the company will be worth $75.64 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock decreased 0.48% or $0.4 during the last trading session, reaching $83.32. About 485,080 shares traded or 113.52% up from the average. Abaxis, Inc. (NASDAQ:ABAX) has risen 44.47% since May 20, 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 $7.94M for 59.51 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. (NASDAQ:ABAX) Ratings Coverage

Among 8 analysts covering Abaxis (NASDAQ:ABAX), 1 have Buy rating, 1 Sell and 6 Hold. Therefore 13% are positive. Abaxis has $90.0 highest and $48 lowest target. $65’s average target is -21.99% below currents $83.32 stock price. Abaxis had 12 analyst reports since November 30, 2017 according to SRatingsIntel. The company was upgraded on Wednesday, May 16 by Credit Suisse. Bank of America maintained it with “Underperform” rating and $48 target in Thursday, February 8 report. Northcoast maintained it with “Buy” rating and $90.0 target in Monday, January 29 report. The stock of Abaxis, Inc. (NASDAQ:ABAX) earned “Hold” rating by Canaccord Genuity on Monday, January 29. The rating was upgraded by Raymond James on Tuesday, January 9 to “Hold”. As per Tuesday, January 16, the company rating was maintained by Canaccord Genuity. As per Tuesday, January 9, the company rating was maintained by Northcoast. The stock of Abaxis, Inc. (NASDAQ:ABAX) has “Hold” rating given on Thursday, January 25 by Stifel Nicolaus. The rating was maintained by Stephens with “Hold” on Friday, January 26. Stifel Nicolaus maintained it with “Hold” rating and $62 target in Friday, April 27 report.

More notable recent Abaxis, Inc. (NASDAQ:ABAX) news were published by: Benzinga.com which released: “Benzinga’s Daily Biotech Pulse: ASCO Abstracts, Fibrocell, Ispen And More” on May 17, 2018, also Benzinga.com with their article: “A Preview Of Abaxis Q4 Earnings” published on April 26, 2018, Nasdaq.com published: “Mid-Afternoon Market Update: Blink Charging Rises After Q1 Results; Purple Innovation Shares Slide” on May 16, 2018. More interesting news about Abaxis, Inc. (NASDAQ:ABAX) were released by: Businesswire.com and their article: “Bragar Eagel & Squire, PC is Investigating the Board of Directors of Abaxis, Inc. (ABAX) on Behalf of Stockholders and …” published on May 16, 2018 as well as 247Wallst.com‘s news article titled: “Are Abaxis Shareholders Getting Enough in the Buyout?” with publication date: May 16, 2018.

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 77.15 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.

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

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