Cubist Systematic Strategies LLC Has $227,000 Stake in Abaxis Inc (ABAX)

Cubist Systematic Strategies LLC lowered its holdings in shares of Abaxis Inc (NASDAQ:ABAX) by 56.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,739 shares of the medical research company’s stock after selling 3,545 shares during the period. Cubist Systematic Strategies LLC’s holdings in Abaxis were worth $227,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Abaxis during the first quarter valued at $181,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Abaxis during the second quarter valued at $248,000. Amalgamated Bank bought a new position in shares of Abaxis during the first quarter valued at $224,000. Commonwealth Equity Services LLC bought a new position in shares of Abaxis during the first quarter valued at $247,000. Finally, Jennison Associates LLC bought a new position in shares of Abaxis during the second quarter valued at $291,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research raised shares of Abaxis from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a research note on Wednesday, June 27th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $67.00.

ABAX stock opened at $83.00 on Monday. The firm has a market cap of $1.90 billion, a PE ratio of 64.34, a price-to-earnings-growth ratio of 5.51 and a beta of 1.43. Abaxis Inc has a 52-week low of $43.66 and a 52-week high of $83.98.

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.

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Institutional Ownership by Quarter for Abaxis (NASDAQ:ABAX)

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