For Abbott Laboratories [ABT], Analyst sees a rise to $124. What next?

Abbott Laboratories [NYSE: ABT] stock went on a downward path that fall over -1.12% on Wednesday, amounting to a one-week price decrease of less than -3.06%. The company report on November 18, 2020 that Abbott Becomes First Anchor Sponsor of American Diabetes Association’s Health Equity Now Initiative to Advance Access to Care and Technology for People with Diabetes.

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– Abbott is committing $5 million over three years to the American Diabetes Association (ADA) to help close the health disparities gap for underserved diabetes communities, especially people of color and lower-income Americans.

, Abbott (NYSE: ABT) and the American Diabetes Association® (ADA) announced that Abbott has become the first anchor sponsor of the Health Equity Now (HEN) platform to address health disparities for people with diabetes. Abbott’s sponsorship includes a three-year, $5 million commitment to support the ADA’s advocacy and community-driven projects aimed at removing barriers to care and providing greater access to the latest medical technologies and health resources for underserved diabetes populations.

Over the last 12 months, ABT stock rose by 24.57%. The one-year Abbott Laboratories stock forecast points to a potential upside of 11.28. The average equity rating for ABT stock is currently 1.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $188.78 billion, with 1.77 billion shares outstanding and 1.76 billion shares in the current float. Compared to the average trading volume of 5.69M shares, ABT stock reached a trading volume of 6219607 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Abbott Laboratories [ABT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ABT shares is $119.94 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ABT stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wolfe Research have made an estimate for Abbott Laboratories shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on September 11, 2020. The new note on the price target was released on June 01, 2020, representing the official price target for Abbott Laboratories stock. Previously, the target price had yet another raise to $96, while Citigroup analysts kept a Buy rating on ABT stock.

The Average True Range (ATR) for Abbott Laboratories is set at 2.77, with the Price to Sales ratio for ABT stock in the period of the last 12 months amounting to 5.86. The Price to Book ratio for the last quarter was 6.02, with the Price to Cash per share for the same quarter was set at 2.67. Price to Free Cash Flow for ABT in the course of the last twelve months was 89.90 with Quick ratio for the last quarter at 1.20.

ABT Stock Performance Analysis:

Abbott Laboratories [ABT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.06. With this latest performance, ABT shares dropped by -2.00% in over the last four-week period, additionally plugging by 12.10% over the last 6 months – not to mention a rise of 24.57% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ABT stock in for the last two-week period is set at 42.48, with the RSI for the last a single of trading hit 35.11, and the three-weeks RSI is set at 45.62 for Abbott Laboratories [ABT]. The present Moving Average for the last 50 days of trading for this stock 108.38, while it was recorded at 109.04 for the last single week of trading, and 95.88 for the last 200 days.

Insight into Abbott Laboratories Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Abbott Laboratories [ABT] shares currently have an operating margin of +14.39 and a Gross Margin at +52.32. Abbott Laboratories’s Net Margin is presently recorded at +11.49.

Return on Total Capital for ABT is now 9.12, given the latest momentum, and Return on Invested Capital for the company is 7.45. Return on Equity for this stock inclined to 11.90, with Return on Assets sitting at 5.43. When it comes to the capital structure of this company, Abbott Laboratories [ABT] has a Total Debt to Total Equity ratio set at 61.44. Additionally, ABT Total Debt to Total Capital is recorded at 38.06, with Total Debt to Total Assets ending up at 28.13. Long-Term Debt to Equity for the company is recorded at 56.02, with the Long-Term Debt to Total Capital now at 34.70.

Reflecting on the efficiency of the workforce at the company, Abbott Laboratories [ABT] managed to generate an average of $34,262 per employee. Receivables Turnover for the company is 6.02 with a Total Asset Turnover recorded at a value of 0.47.Abbott Laboratories’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.70.

ABT Stock EPS

With the latest financial reports released by the company, Abbott Laboratories posted 0.95/share EPS, while the average EPS was predicted by analysts to be reported at 0.95/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ABT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Abbott Laboratories go to 13.28%.

Abbott Laboratories [ABT] Insider Position Details

There are presently around $139,353 million, or 75.50% of ABT stock, in the hands of institutional investors. The top three institutional holders of ABT stocks are: VANGUARD GROUP INC with ownership of 148,155,501, which is approximately -1.255% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 135,019,032 shares of the stock with an approximate value of $14.37 billion in ABT stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $9.3 billion in ABT stock with ownership of nearly -0.005% of the company’s market capitalization.

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Positions in Abbott Laboratories stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 1,030 institutional holders increased their position in Abbott Laboratories [NYSE:ABT] by around 40,159,449 shares. Additionally, 1,030 investors decreased positions by around 40,948,649 shares, while 335 investors held positions by with 1,228,473,548 shares. The mentioned changes placed institutional holdings at 1,309,581,646 shares, according to the latest SEC report filing. ABT stock had 155 new institutional investments in for a total of 4,010,631 shares, while 83 institutional investors sold positions of 4,954,293 shares during the same period.

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