Abaxis (NASDAQ:ABAX) was upgraded by Merrill Lynch from an “underperform” rating to a “neutral” rating in a research note issued on Monday, Stock Ratings News reports.
Abaxis (NASDAQ:ABAX) traded up 3.61% during mid-day trading on Monday, hitting $36.20. 206,660 shares of the company’s stock traded hands. Abaxis has a 52-week low of $32.11 and a 52-week high of $51.84. The stock has a 50-day moving average of $39.0 and a 200-day moving average of $42.97. The company has a market cap of $807.4 million and a P/E ratio of 41.60.
Abaxis (NASDAQ:ABAX) last announced its earnings results on Tuesday, October 22nd. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by $0.03. The company had revenue of $45.90 million for the quarter, compared to the consensus estimate of $48.60 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. Analysts expect that Abaxis will post $0.78 EPS for the current fiscal year.
A number of other firms have also recently commented on ABAX. Analysts at Bank of America Corp. upgraded shares of Abaxis from an “underperform” rating to a “neutral” rating in a research note to investors on Monday. They now have a $36.00 price target on the stock. Separately, analysts at Canaccord Genuity cut their price target on shares of Abaxis from $40.00 to $34.00 in a research note to investors on Wednesday, October 23rd. They now have a “hold” rating on the stock. Finally, analysts at Feltl & Co. cut their price target on shares of Abaxis from $45.00 to $37.75 in a research note to investors on Wednesday, October 23rd. They now have a “hold” rating on the stock. Seven research analysts have rated the stock with a hold rating, Abaxis has an average rating of “Hold” and an average price target of $39.55.
Abaxis, Inc develops portable multitest analyzer based on established principles of centrifugal analysis.
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