Abaxis Inc (NASDAQ:ABAX) a Buy: Canaccord Genuity

In a research note issued to investors, Mark Massaro at Canaccord Genuity Reiterated their Buy rating on Abaxis Inc (NASDAQ:ABAX). The analyst placed a $68.00 price target on the stock which indicates a 23.01% upside to the last closing price. In the year following Mark’s ratings, the stocks covered yield an average return of -8.5% according to TipRanks.com. In the past year 18 out of 54 recommendations or 33% were successful.

On a consensus basis, Wall Street sell-side analysts have a mean target price of $65.25 for ABAXIS, Inc. (NASDAQ:ABAX). This number is based on the mean estimate from the 4 research firms that recently issued reports on the company.

According to analysts, ABAXIS, Inc. (NASDAQ:ABAX) is expected to report earnings per share for the current fiscal quarter of $0.29. This is the consensus mean estimate based on the individual covering sell-side analysts’ reported numbers. The company last reported earnings for the period ending on 2015-03-31 of $0.17.

The average broker recommendation is arithmetical average of the individual ratings contributed by sell-side analysts to produce a Consensus Analyst Rating for each stock. On a scale of 1 to 5 where 1 is a Strong Buy and 5 is a Strong Sell, has the stock is ranked 2.67 based on 4 sell-side broker recommendations. Of the 4 analyst estimates, the most bullish sees the stock reaching $72 within the next 12 months while the most bearish analyst sees the stock at $60 within the year.

In looking at the long term growth prospects of the company, sell-side analysts have a consensus mean earnings per share estimate for the current year of $1.29. The high end estimate for this time frame is $1.36 with the low being $1.22. In looking at the next three to five years, the long term earnings per share estimate growth rate for the company is 16.67%, based on 3 analysts providing projections.

Abaxis, Inc. (Abaxis) develops, manufactures, markets and sells blood analysis systems for use in the human or veterinary patient-care setting to provide clinicians with rapid blood constituent measurements. The Company’s segments include the medical market and the veterinary market. The Company has developed a blood analysis system incorporating all of these criteria into a 5.1 kilogram (11.2 pounds) portable analyzer and a series of menu-specific, multi-test single-use reagent discs. Abaxis markets its blood chemistry analyzers in the medical market and in the veterinary market. The Company markets the blood analysis system in the medical market under the name Piccolo Xpress. It markets the blood analysis system in the veterinary market under the name VetScan VS2.