Abaxis Stock Hits New 52-Week High (ABAX)

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.

TheStreet Ratings rates Abaxis as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Abaxis Ratings Report.

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