After Making 52-Week High, Is Abaxis, Inc. (ABAX)’s Near-Term Analysis Positive?

May 16, 2018 - By Alfred Lee

Abaxis, Inc. (NASDAQ:ABAX) Logo

Investors sentiment decreased to 1.27 in 2017 Q4. Its down 0.05, from 1.32 in 2017Q3. It worsened, 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.
Schwab Charles Investment Mgmt has 0% invested in Abaxis, Inc. (NASDAQ:ABAX) for 111,019 shares. Louisiana State Employees Retirement holds 0.02% in Abaxis, Inc. (NASDAQ:ABAX) or 9,800 shares. Bridgeway Cap Mgmt stated it has 15,300 shares. The Massachusetts-based State Street Corporation has invested 0% in Abaxis, Inc. (NASDAQ:ABAX). Parkside Comml Bank And Tru invested 0% in Abaxis, Inc. (NASDAQ:ABAX). Tudor Inv Corporation Et Al reported 6,735 shares. Voya Invest Mngmt Limited Liability Corporation has invested 0% in Abaxis, Inc. (NASDAQ:ABAX). Ny State Teachers Retirement has 0.01% invested in Abaxis, Inc. (NASDAQ:ABAX). Barclays Public Limited Co, a United Kingdom-based fund reported 3,793 shares. Prudential Fincl accumulated 0% or 37,379 shares. 102 were reported by C M Bidwell & Associate. Wells Fargo & Co Mn has invested 0.01% of its portfolio in Abaxis, Inc. (NASDAQ:ABAX). Goldman Sachs Gp holds 0% or 61,129 shares. Great West Life Assurance Com Can accumulated 29,316 shares or 0% of the stock. Ls Investment Ltd Liability reported 717 shares.

Since January 30, 2018, it had 0 insider buys, and 10 selling transactions for $2.85 million activity. Shares for $140,500 were sold by SINGH PRITHIPAL on Tuesday, March 6. On Thursday, March 8 the insider CASEY MICHAEL D sold $355,327. 10,000 shares valued at $689,851 were sold by WOOD DONALD PETER on Tuesday, March 6. On Tuesday, March 6 the insider ARON KENNETH sold $98,266. $333,460 worth of stock was sold by EVENHUIS HENK on Tuesday, January 30. 1,650 Abaxis, Inc. (NASDAQ:ABAX) shares with value of $122,652 were sold by TOCKMAN CRAIG.

The stock of Abaxis, Inc. (NASDAQ:ABAX) hit a new 52-week high and has $87.72 target or 6.00 % above today’s $82.75 share price. The 9 months bullish chart indicates low risk for the $1.88B company. The 1-year high was reported on May, 16 by Barchart.com. If the $87.72 price target is reached, the company will be worth $112.68M 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 increased 15.33% or $11 during the last trading session, reaching $82.75. About 1.57 million shares traded or 990.02% up from the average. Abaxis, Inc. (NASDAQ:ABAX) has risen 44.47% since May 16, 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 $7.94 million for 59.11 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 7 analysts covering Abaxis (NASDAQ:ABAX), 1 have Buy rating, 1 Sell and 5 Hold. Therefore 14% are positive. Abaxis has $90.0 highest and $48 lowest target. $65’s average target is -21.45% below currents $82.75 stock price. Abaxis had 11 analyst reports since November 30, 2017 according to SRatingsIntel. The company was maintained on Thursday, January 25 by Stifel Nicolaus. The stock has “Hold” rating by Stifel Nicolaus on Friday, April 27. Raymond James upgraded Abaxis, Inc. (NASDAQ:ABAX) on Tuesday, January 9 to “Hold” rating. The stock of Abaxis, Inc. (NASDAQ:ABAX) has “Buy” rating given on Tuesday, January 9 by Northcoast. The firm earned “Buy” rating on Monday, January 29 by Northcoast. The stock has “Neutral” rating by Sidoti on Wednesday, May 16. The firm has “Hold” rating by Stephens given on Friday, January 26. The stock of Abaxis, Inc. (NASDAQ:ABAX) has “Hold” rating given on Monday, January 29 by Canaccord Genuity. The firm has “Hold” rating given on Tuesday, January 16 by Canaccord Genuity. The stock of Abaxis, Inc. (NASDAQ:ABAX) has “Underperform” rating given on Thursday, February 8 by Bank of America.

More notable recent Abaxis, Inc. (NASDAQ:ABAX) news were published by: Benzinga.com which released: “26 Stocks Moving In Wednesday’s Pre-Market Session” on May 16, 2018, also Benzinga.com with their article: “A Preview Of Abaxis Q4 Earnings” published on April 26, 2018, 247Wallst.com published: “Are Abaxis Shareholders Getting Enough in the Buyout?” on May 16, 2018. More interesting news about Abaxis, Inc. (NASDAQ:ABAX) were released by: Benzinga.com and their article: “Zoetis To Buy Abaxis In $2 Billion Deal” published on May 16, 2018 as well as Streetinsider.com‘s news article titled: “Pre-Open Movers 05/16: (BOOT) (ABAX) (M) Higher; (VSTM) (SRAX) (ABR) Lower (more…)” 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 $1.88 billion. It operates in two divisions, Medical Market and Veterinary Market. It has a 76.62 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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