Abaxis (NDAQ:ABAX) Price Target & New Coverage by Aegis

Aegis began its coverage on Abaxis (NDAQ:ABAX), today Monday, 12 June. The broker finds the stock of ABAX attractive and has target of $56.50 with “Hold” rating.

After the new initiation NDAQ:ABAX is right now trading -1.10% lower at $51.27 as of 8:28 AM New York time. Abaxis’s stock is 0% over the last 200 days. It has underperformed the Standard & Poor’s 500 index, which has surged 6.00% over the same time.

According to data compiled by Thomson Reuters, Abaxis (NDAQ:ABAX)’s stock is covered by 6 equity analysts across the Street, with 1 analysts giving it a Sell rating, 2 a Buy rating, while 6 consider it a Hold. The 12-month consensus target price for the stock is $53.42, which reflects an upside potential of 4.19% over the current price.

Institutional Ownership

Brown Capital Management Llc had the most significant stake with ownership of 3.77 million shares as of Q2 2015 for 2.86% of the US long equity exposure. Conestoga Capital Advisors Llc is another quite bullish institutional investor who is possessing 473,302 shares of Abaxis or 1.67% of their US long equity exposure. Also, Kayne Anderson Rudnick Investment Management Llc have 1.64% of their US long equity exposure invested in the company for 2.54 million shares. The Pennsylvania-based fund Copeland Capital Management Llc revealed it had purchased so far a stake worth about 1.12% of the institutional investor’s stock portfolio in Abaxis. The California-based fund Ami Asset Management Corp is also positive about the stock, possessing 337,803 shares or 0.68% of their US long equity exposure.

Abaxis (NDAQ:ABAX) Profile

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 markets and sells its products around the world through independent distributors and direct sales force. The Company’s segments are the medical market and the veterinary market.

Abaxis (NDAQ:ABAX) traded down -1.10% on 12 June, hitting $51.27. A total of 88,917 shares of the company’s stock traded hands. This is down from average of 125,248 shares. Abaxis has a 52 week low of $43.57 and a 52 week high of $55.95. The company has a market cap of $1.19B and a P/E ratio of 35.64.

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