Abaxis Inc (ABAX) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $0.36 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.32. The company posted revenue of $57.00 million in the period, compared to analysts expectations of $56.54 million. The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS.
Many Wall Street Analysts have commented on Abaxis Inc. Shares were Reiterated by Canaccord Genuity on Apr 1, 2016 to “Hold” and Lowered the Price Target to $ 42 from a previous price target of $47 .Abaxis Inc was Initiated by Credit Suisse to “Underperform” on Feb 4, 2016.
Abaxis Inc closed down -0.38 points or -0.83% at $45.58 with 3,67,239 shares getting traded on Wednesday. Post opening the session at $45.8, the shares hit an intraday low of $44.93 and an intraday high of $45.9 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Feb 11, 2016, Vernon E Altman (director) purchased 303 shares at $39.87 per share price. According to the SEC, on Dec 10, 2015, Craig Tockman (VP-Sales & Mktg, Animal Health) sold 560 shares at $54.44 per share price. On Jun 2, 2015, Henk Evenhuis (director) sold 2,000 shares at $53.29 per share price, according to the Form-4 filing with the securities and exchange commission.
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 operates through the two segments: the medical market and the veterinary market. The Company’s medical market customer group consists of physicians’ office practices across multiple specialties urgent care outpatient and walk-in clinics health screening operations home care providers and nursing homes. The Company’s medical market products include: Piccolo chemistry analyzers and consumable products. The Company’s veterinary market product offerings include VetScan chemistry analyzers and veterinary reagent discs VetScan hematology instruments and related reagent kits VetScan VSpro specialty analyzers and related consumables VetScan i-STAT analyzers and related consumables and VetScan rapid tests.