Monday, March 1, 2021

Abbott Laboratories [ABT] moved down -1.44: Why It’s Important

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Abbott Laboratories [NYSE: ABT] loss -1.44% on the last trading session, reaching $125.41 price per share at the time. The company report on February 10, 2021 that Abbott’s Fast, Reliable and Convenient COVID-19 Tests Ramp Up Indonesia’s Testing Capability.

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– Southeast Asia’s most populous nation1 expands use of fastest available molecular point-of-care technology and an antigen rapid test device that needs just a nasal swab, to detect active coronavirus infections at massive scale.


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– Delivering reliable results in minutes, Abbott’s COVID-19 testing options demonstrate high specificity, sensitivity and can be used by healthcare professionals in a variety of settings.

Abbott Laboratories represents 1.77 billion in outstanding shares, while the company has a total market value of $219.86 billion with the latest information. ABT stock price has been found in the range of $124.07 to $126.66.

If compared to the average trading volume of 4.96M shares, ABT reached a trading volume of 5333350 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 $134.88 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 1.80. 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.

BTIG Research have made an estimate for Abbott Laboratories shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 28, 2021. While these analysts kept the previous recommendation, Wolfe Research raised their target price to Outperform. The new note on the price target was released on September 11, 2020, representing the official price target for Abbott Laboratories stock. Previously, the target price had yet another raise to $84, while Goldman analysts kept a Sell rating on ABT stock.

The Average True Range (ATR) for Abbott Laboratories is set at 2.61, with the Price to Sales ratio for ABT stock in the period of the last 12 months amounting to 6.35. The Price to Book ratio for the last quarter was 7.09, with the Price to Cash per share for the same quarter was set at 2.70. Price to Free Cash Flow for ABT in the course of the last twelve months was 102.40 with Quick ratio for the last quarter at 1.20.

Trading performance analysis for ABT stock

Abbott Laboratories [ABT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.10. With this latest performance, ABT shares gained by 11.41% in over the last four-week period, additionally plugging by 24.22% over the last 6 months – not to mention a rise of 40.34% 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 65.82, with the RSI for the last a single of trading hit 62.42, and the three-weeks RSI is set at 65.92 for Abbott Laboratories [ABT]. The present Moving Average for the last 50 days of trading for this stock 114.03, while it was recorded at 127.15 for the last single week of trading, and 104.25 for the last 200 days.

Abbott Laboratories [ABT]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Abbott Laboratories [ABT] shares currently have an operating margin of +15.48 and a Gross Margin at +56.65. Abbott Laboratories’s Net Margin is presently recorded at +12.92.

Abbott Laboratories’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.70.

Abbott Laboratories [ABT]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Abbott Laboratories posted 0.65/share EPS, while the average EPS was predicted by analysts to be reported at 0.58/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 12.10%. 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 15.74%.

An analysis of insider ownership at Abbott Laboratories [ABT]

There are presently around $161,662 million, or 75.90% of ABT stock, in the hands of institutional investors. The top three institutional holders of ABT stocks are: VANGUARD GROUP INC with ownership of 147,272,920, which is approximately -0.596% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 133,426,810 shares of the stock with an approximate value of $16.73 billion in ABT stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $10.83 billion in ABT stock with ownership of nearly -1.166% of the company’s market capitalization.

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Positions in Abbott Laboratories stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 1,166 institutional holders increased their position in Abbott Laboratories [NYSE:ABT] by around 39,722,573 shares. Additionally, 1,002 investors decreased positions by around 42,363,090 shares, while 350 investors held positions by with 1,206,983,131 shares. The mentioned changes placed institutional holdings at 1,289,068,794 shares, according to the latest SEC report filing. ABT stock had 223 new institutional investments in for a total of 3,771,616 shares, while 65 institutional investors sold positions of 3,541,542 shares during the same period.

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