Abbott Laboratories [NYSE: ABT] stock went on an upward path that rose over 0.08% on Wednesday, amounting to a one-week price increase of more than 1.54%. The company report on April 1, 2021 that Abbott’s BinaxNOW™ Rapid Antigen Self Test Receives FDA Emergency Use Authorization for Asymptomatic, Over-the-Counter, Non-Prescription, Multi-Test Use.
– FDA Emergency Use Authorization permits asymptomatic, non-prescription, over-the-counter self use for people with or without symptoms.
– The BinaxNOW COVID-19 Self Test is identical to the professional-use test, used since August 2020, bringing the most studied and widely used rapid antigen test to retail shelves across the country.
Over the last 12 months, ABT stock rose by 51.87%. The one-year Abbott Laboratories stock forecast points to a potential upside of 11.67. The average equity rating for ABT stock is currently 1.80, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $207.05 billion, with 1.78 billion shares outstanding and 1.76 billion shares in the current float. Compared to the average trading volume of 5.22M shares, ABT stock reached a trading volume of 5787551 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 $135.67 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 2.56, with the Price to Sales ratio for ABT stock in the period of the last 12 months amounting to 5.98. The Price to Book ratio for the last quarter was 6.49, with the Price to Cash per share for the same quarter was set at 4.14. Price to Free Cash Flow for ABT in the course of the last twelve months was 65.44 with Quick ratio for the last quarter at 1.30.
ABT Stock Performance Analysis:
Abbott Laboratories [ABT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.54. With this latest performance, ABT shares dropped by -2.20% in over the last four-week period, additionally plugging by 13.93% over the last 6 months – not to mention a rise of 51.87% 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 50.75, with the RSI for the last a single of trading hit 50.46, and the three-weeks RSI is set at 51.40 for Abbott Laboratories [ABT]. The present Moving Average for the last 50 days of trading for this stock 120.18, while it was recorded at 120.59 for the last single week of trading, and 108.33 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 +15.29 and a Gross Margin at +50.21. Abbott Laboratories’s Net Margin is presently recorded at +12.86.
Return on Total Capital for ABT is now 10.24, given the latest momentum, and Return on Invested Capital for the company is 8.83. Return on Equity for this stock inclined to 13.93, with Return on Assets sitting at 6.34. When it comes to the capital structure of this company, Abbott Laboratories [ABT] has a Total Debt to Total Equity ratio set at 60.67. Additionally, ABT Total Debt to Total Capital is recorded at 37.76, with Total Debt to Total Assets ending up at 27.42. Long-Term Debt to Equity for the company is recorded at 59.26, with the Long-Term Debt to Total Capital now at 36.89.
Reflecting on the efficiency of the workforce at the company, Abbott Laboratories [ABT] managed to generate an average of $40,817 per employee. Receivables Turnover for the company is 5.85 with a Total Asset Turnover recorded at a value of 0.49.Abbott Laboratories’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.70.
ABT Stock EPS
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%.
Abbott Laboratories [ABT] Insider Position Details
There are presently around $156,682 million, or 75.80% 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 $15.99 billion in ABT stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $10.35 billion in ABT stock with ownership of nearly -1.166% of the company’s market capitalization.
Positions in Abbott Laboratories stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 1,192 institutional holders increased their position in Abbott Laboratories [NYSE:ABT] by around 42,027,699 shares. Additionally, 987 investors decreased positions by around 42,317,541 shares, while 342 investors held positions by with 1,223,082,576 shares. The mentioned changes placed institutional holdings at 1,307,427,816 shares, according to the latest SEC report filing. ABT stock had 244 new institutional investments in for a total of 4,113,563 shares, while 61 institutional investors sold positions of 3,497,774 shares during the same period.