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Abaxis Inc.

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For the last one month, Abaxis is trading below the broader Medical Product industry. Meanwhile, the company is rigorously working on portfolio expansion strategies with new animal health products. According to Abaxis, addition of these products should potentially improve its growth performance over the long run. Notably, the company's veteranary business continues to witness growth in the reported quarter. On the flip side, its last reported third-quarter fiscal 2017 results were also dismal. According to Abaxis, foreign exchange fluctuation had a significant impact on its top line as currencies dented revenues by 1.2%. Also, a difficult comparison for the medical business due to a large sale of Piccolo Xpress instruments in China in the prior-year quarter impacted the reported quarter’s performance.