Abaxis Inc (ABAX) was Downgraded by Northcoast to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Northcoast advised their investors in a research report released on Nov 30, 2016.
On the company’s financial health, Abaxis Inc reported $0.34 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Oct 25, 2016. Analyst had a consensus of $0.35. The company had revenue of $58.60 million for the quarter, compared to analysts expectations of $60.73 million. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS.
Abaxis Inc opened for trading at $52 and hit $52.685 on the upside on Tuesday, eventually ending the session at $52.21, with a gain of 0.54% or 0.28 points. The heightened volatility saw the trading volume jump to 74,021 shares. Company has a market cap of $1,177 M.
In a different news, on Sep 9, 2016, Clinton Severson (CEO & Board Chairman) sold 2,000 shares at $48.29 per share price. According to the SEC, on Sep 9, 2016, Prithipal Singh (director) sold 1,000 shares at $49.50 per share price. On Aug 9, 2016, Henk Evenhuis (director) sold 3,000 shares at $50.00 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.