BofA Securities slashes price target on Abbott Laboratories [ABT] – find out why.

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Abbott Laboratories [NYSE: ABT] loss -1.37% or -1.65 points to close at $118.39 with a heavy trading volume of 4429767 shares. The company report on April 11, 2022 that Looking Back, Moving Forward: Defending Global Health.


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It opened the trading session at $119.79, the shares rose to $120.61 and dropped to $117.72, the range by which the price of stock traded the whole day. The daily chart for ABT points out that the company has recorded 0.91% gains over the past six months. However, it is still -12.37% lower than its most recent low trading price.

If we look at the average trading volume of 6.17M shares, ABT reached to a volume of 4429767 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 $142.48 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 2.00. 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.

BofA Securities have made an estimate for Abbott Laboratories shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 02, 2022. While these analysts kept the previous recommendation, UBS raised their target price from $138 to $142. The new note on the price target was released on January 27, 2022, representing the official price target for Abbott Laboratories stock. Previously, the target price had yet another drop from $150 to $143, while Raymond James kept a Outperform rating on ABT stock. On January 27, 2022, analysts decreased their price target for ABT shares from 157 to 151.

The Average True Range (ATR) for Abbott Laboratories is set at 2.69, with the Price to Sales ratio for ABT stock in the period of the last 12 months amounting to 4.85. The Price to Book ratio for the last quarter was 5.85, with the Price to Cash per share for the same quarter was set at 5.81. Price to Free Cash Flow for ABT in the course of the last twelve months was 38.37 with Quick ratio for the last quarter at 1.50.

Trading performance analysis for ABT stock

Abbott Laboratories [ABT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.91. With this latest performance, ABT shares gained by 2.48% in over the last four-week period, additionally plugging by 0.91% over the last 6 months – not to mention a drop of -2.56% 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 45.18, with the RSI for the last a single of trading hit 42.89, 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 121.23, while it was recorded at 121.00 for the last single week of trading, and 124.67 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 +21.36 and a Gross Margin at +53.89. Abbott Laboratories’s Net Margin is presently recorded at +16.35.

Return on Equity for this stock inclined to 20.53, with Return on Assets sitting at 9.53.

Abbott Laboratories’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.80.

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

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 12.12%.

An analysis of insider ownership at Abbott Laboratories [ABT]

There are presently around $156,224 million, or 75.30% of ABT stock, in the hands of institutional investors. The top three institutional holders of ABT stocks are: VANGUARD GROUP INC with ownership of 149,152,264, which is approximately 0.25% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 137,155,602 shares of the stock with an approximate value of $16.46 billion in ABT stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $10.1 billion in ABT stock with ownership of nearly -0.388% 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 1,404 institutional holders increased their position in Abbott Laboratories [NYSE:ABT] by around 49,328,396 shares. Additionally, 1,044 investors decreased positions by around 50,285,681 shares, while 400 investors held positions by with 1,201,816,022 shares. The mentioned changes placed institutional holdings at 1,301,430,099 shares, according to the latest SEC report filing. ABT stock had 331 new institutional investments in for a total of 7,458,192 shares, while 81 institutional investors sold positions of 4,643,839 shares during the same period.

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