Abaxis Inc (NASDAQ:ABAX).
Brown Capital Management LLC says it decreased its investment in Abaxis Inc by 298,271 shares as of the end of the last quarter. Its position stood at $138,493,000 a decrease of $41,776,000 as of quarter end.
The following firms have recently changed their position in ABAX. Renaissance Technologies LLC augmented its ownership by buying 58,371 shares an increase of 91.3% as of 09/30/2017. Renaissance Technologies LLC currently owns 122,271 shares with a value of $5,459,000. The value of the position overall is up by 61.1%. As of the end of the quarter Echo Street Capital Management LLC had bought a total of 198,105 shares growing its holdings by 77.5%. The value of the company’s investment in Abaxis Inc went from $13,546,000 to $20,253,000 a change of $6,707,000 for the reporting period.
As of quarter end Primecap Management Co/ca/ had disposed of 62,000 shares trimming its position 2.7%. The value of the investment in Abaxis Inc decreased from $120,902,000 to $99,047,000 a change of 18.1% quarter over quarter.
October 27 investment analysts at Canaccord Genuity held the stock rating at “Hold” projecting a price of $47.00. Bank of America Corporation lowered the price target on October 25 cutting the projection from $42.00 to $39.00 and stated a “Underperform” rating.
On August 23 Bank of America Corporation made no change to the stock rating of “Underperform” targeting a price of $42.00.
The company is trading up since yesterday’s close of 47.21. The company currently has a P/E ratio of 40.08 and the market cap is 1.09B. In the last earnings report the EPS was $1.20 with 22.70M shares outstanding.
Traders are a little more bearish on shares of Abaxis Inc lately if you put credence in the rise in short interest. The company recorded a rise in short interest of 1.54% as of the latest report on October 13, 2017. Short interest increased 34,045 over that period. Days to cover increased from 20.0 to 25.0 and the percentage of shorted shares is 0.10% as of October 13.