Analysts Set Abaxis Inc (ABAX) Target Price at $58.33

Abaxis Inc (NASDAQ:ABAX) has received a consensus recommendation of “Hold” from the thirteen analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $58.33.

Separately, Zacks Investment Research upgraded shares of Abaxis from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a report on Wednesday, June 27th.

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of Abaxis in the 1st quarter worth about $181,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in Abaxis during the 2nd quarter valued at about $208,000. Amalgamated Bank purchased a new stake in Abaxis during the 1st quarter valued at about $224,000. Commonwealth Equity Services LLC purchased a new stake in Abaxis during the 1st quarter valued at about $247,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Abaxis during the 2nd quarter valued at about $248,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ ABAX opened at $83.00 on Wednesday. Abaxis has a 12 month low of $43.66 and a 12 month high of $83.98. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 64.34, a P/E/G ratio of 5.51 and a beta of 1.43.

About Abaxis

Abaxis, Inc develops, manufactures, markets, and sells portable blood analysis systems for use in human or veterinary patient care to provide rapid blood constituent measurements for clinicians worldwide. It operates in two segments, Medical Market and Veterinary Market. The company offers Piccolo chemistry analyzers with rapid blood constituent measurements for use in human patient care; and Piccolo profiles that are single-use medical reagents.

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Analyst Recommendations for Abaxis (NASDAQ:ABAX)

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