Nuance Investments LLC Takes $34 Million Position in Abaxis Inc (ABAX)

Nuance Investments LLC acquired a new position in shares of Abaxis Inc (NASDAQ:ABAX) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 409,577 shares of the medical research company’s stock, valued at approximately $33,999,000. Abaxis comprises 2.2% of Nuance Investments LLC’s investment portfolio, making the stock its 17th largest holding. Nuance Investments LLC owned 1.79% of Abaxis at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Abaxis by 154.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,085 shares of the medical research company’s stock valued at $147,000 after purchasing an additional 1,265 shares during the period. SG Americas Securities LLC bought a new stake in Abaxis in the 1st quarter valued at about $181,000. Tiedemann Advisors LLC bought a new stake in Abaxis in the 1st quarter valued at about $213,000. Northwest Bancshares Inc. bought a new stake in Abaxis in the 1st quarter valued at about $222,000. Finally, Amalgamated Bank bought a new stake in shares of Abaxis during the 1st quarter worth approximately $224,000. Institutional investors own 90.23% of the company’s stock.

ABAX stock opened at $83.00 on Monday. The company has a market cap of $1.90 billion, a P/E ratio of 64.34, a P/E/G ratio of 5.51 and a beta of 1.43. Abaxis Inc has a 1 year low of $43.66 and a 1 year high of $83.98.

In related news, insider Achim Henkel sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 29th. The shares were sold at an average price of $83.00, for a total transaction of $664,000.00. Following the completion of the transaction, the insider now directly owns 70,950 shares in the company, valued at approximately $5,888,850. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.30% of the stock is owned by corporate insiders.

A number of analysts have recently weighed in on ABAX shares. ValuEngine raised shares of Abaxis from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 17th. Credit Suisse Group raised shares of Abaxis from an “underperform” rating to a “neutral” rating in a report on Wednesday, May 16th. Sidoti downgraded shares of Abaxis from a “buy” rating to a “neutral” rating in a report on Wednesday, May 16th. Finally, Zacks Investment Research downgraded shares of Abaxis from a “strong-buy” rating to a “hold” rating in a report on Monday, April 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $67.00.

Abaxis Profile

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.

Read More: Market Capitalization and Individual Investors

Institutional Ownership by Quarter for Abaxis (NASDAQ:ABAX)

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