Feltl & Co. Downgrades Abaxis Inc to Sell

Brokerage firm Feltl & Co. Downgrades its rating on Abaxis Inc(NASDAQ:ABAX). The shares have been rated Sell. Previously, the analysts had a Neutral rating on the shares. The rating by Feltl & Co. was issued on Jul 22, 2016.

Abaxis Inc (ABAX) made into the market gainers list on Thursdays trading session with the shares advancing 1.18% or 0.58 points. Due to strong positive momentum, the stock ended at $49.72, which is also near the day’s high of $50.29. The stock began the session at $48.8 and the volume stood at 1,65,747 shares. The 52-week high of the shares is $58.15 and the 52 week low is $37.71. The company has a current market capitalization of $1,119 M and it has 2,25,00,000 shares in outstanding.

Abaxis Inc(ABAX) last announced its earnings results on Jul 21, 2016 for Fiscal Year 2017 and Q1.Company reported revenue of $57.70M. Analysts had an estimated revenue of $58.70M. Earnings per share were $0.30. Analysts had estimated an EPS of $0.32.

Several Insider Transactions has been reported to the SEC. On Jun 10, 2016, Richard Bastiani (director) sold 5,000 shares at $46.73 per share price.Also, On May 19, 2016, Achim Henkel (Managing Director-Europe) sold 5,000 shares at $44.42 per share price.On May 11, 2016, Henk Evenhuis (director) sold 3,000 shares at $45.00 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.

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