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NEW YORK ( TheStreet) -- Abaxis (Nasdaq: ABAX) hit a new 52-week high Friday as it is currently trading at $33, above its previous 52-week high of $31.69 with 45,228 shares traded as of 9:40 a.m. ET. Average volume has been 96,200 shares over the past 30 days. Abaxis has a market cap of $642.7 million and is part of the health care sector and drugs industry. Shares are up 7.8% year to date as of the close of trading on Thursday. Abaxis, Inc. develops, manufactures, markets, and sells portable blood analysis systems for use in veterinary or human patient-care setting to provide blood constituent measurements for clinicians worldwide. The company has a P/E ratio of 57, above the average drugs industry P/E ratio of 55.9 and above the S&P 500 P/E ratio of 17.7.