Credit Suisse Finally Upgrades Abaxis (NASDAQ:ABAX) Stock

May 17, 2018 - By Robert Crowder

Abaxis, Inc. (NASDAQ:ABAX) Logo

Investors sentiment decreased to 1.27 in Q4 2017. Its down 0.05, from 1.32 in 2017Q3. It dived, 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.

127 are held by Northwestern Mutual Wealth Mngmt. Tiverton Asset Mgmt Limited accumulated 55,922 shares or 0.17% of the stock. Bank Of America Corp De accumulated 4,059 shares. Nuance Invests Ltd accumulated 158,635 shares. Tudor Investment Et Al invested 0.01% in Abaxis, Inc. (NASDAQ:ABAX). Riverhead Cap Mgmt Limited Liability owns 2,253 shares or 0% of their US portfolio. Us Bancshares De stated it has 42,464 shares. Swiss Comml Bank reported 38,700 shares. Ls Invest Llc holds 0% of its portfolio in Abaxis, Inc. (NASDAQ:ABAX) for 717 shares. Citigroup Inc, a New York-based fund reported 4,999 shares. Ameriprise invested in 134,811 shares. Vanguard Group Inc Inc accumulated 2.08M shares. New York State Teachers Retirement Sys owns 48,074 shares. Paradigm Asset Mngmt Co Lc, a New York-based fund reported 1,350 shares. New York State Common Retirement Fund has 388,443 shares.

Since January 30, 2018, it had 0 insider buys, and 10 insider sales for $2.85 million activity. 2,000 shares were sold by SINGH PRITHIPAL, worth $140,500 on Tuesday, March 6. 4,500 shares valued at $333,460 were sold by EVENHUIS HENK on Tuesday, January 30. Another trade for 10,000 shares valued at $689,851 was sold by WOOD DONALD PETER. Another trade for 1,412 shares valued at $98,266 was sold by ARON KENNETH. TOCKMAN CRAIG sold 1,650 shares worth $122,652. $355,327 worth of Abaxis, Inc. (NASDAQ:ABAX) shares were sold by CASEY MICHAEL D.

Abaxis (NASDAQ:ABAX) Stock Upgrade

The rating of Abaxis (NASDAQ:ABAX) was raised today by research analysts at Credit Suisse to a Hold rating in a report.

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 -22.36% below currents $83.72 stock price. Abaxis had 11 analyst reports since November 30, 2017 according to SRatingsIntel. As per Thursday, February 8, the company rating was maintained by Bank of America. The firm has “Hold” rating given on Friday, April 27 by Stifel Nicolaus. On Monday, January 29 the stock rating was maintained by Northcoast with “Buy”. Stifel Nicolaus maintained the shares of ABAX in report on Thursday, January 25 with “Hold” rating. Stephens maintained it with “Hold” rating and $60.0 target in Friday, January 26 report. The company was upgraded on Tuesday, January 9 by Raymond James. The stock of Abaxis, Inc. (NASDAQ:ABAX) earned “Hold” rating by Canaccord Genuity on Monday, January 29. The rating was maintained by Canaccord Genuity with “Hold” on Tuesday, January 16. The firm earned “Buy” rating on Tuesday, January 9 by Northcoast. The rating was downgraded by Sidoti on Wednesday, May 16 to “Neutral”.

The stock increased 0.46% or $0.38 during the last trading session, reaching $83.72. About 1.09 million shares traded or 413.37% up from the average. Abaxis, Inc. (NASDAQ:ABAX) has risen 44.47% since May 18, 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 59.80 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 $1.90 billion. It operates in two divisions, Medical Market and Veterinary Market. It has a 77.52 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: Benzinga.com which released: “Benzinga’s Daily Biotech Pulse: ASCO Abstracts, Fibrocell, Ispen And More” on May 17, 2018, also Nasdaq.com with their article: “Mid-Afternoon Market Update: Blink Charging Rises After Q1 Results; Purple Innovation Shares Slide” 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: Benzinga.com and their article: “26 Stocks Moving In Wednesday’s Pre-Market Session” published on May 16, 2018 as well as Benzinga.com‘s news article titled: “41 Biggest Movers From Yesterday” with publication date: May 17, 2018.

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

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