Abbott Laboratories [ABT] fell -21.59% so far this year. What now?


Abbott Laboratories [NYSE: ABT] gained 0.34% on the last trading session, reaching $110.36 price per share at the time. The company report on July 26, 2022 that Abbott Introduces Canada’s First Remote Neuromodulation Patient-Care Technology, NeuroSphere™ Virtual Clinic, to Treat People with Chronic Pain and Movement Disorders*.

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The new system allows patients implanted with an Abbott neuromodulation device to communicate with their physician and remotely receive treatment in real time, regardless of location§.

– Abbott (NYSE: ABT) announces the Health Canada licencing† of NeuroSphere™ Virtual Clinic, a remote programming technology that is the first of its kind in Canada and is compatible with Abbott’s suite of neuromodulation technologies. NeuroSphere Virtual Clinic has the potential to increase access to optimal treatment for patients living with chronic pain, Parkinson’s disease, or essential tremors who might otherwise have difficulty receiving care from their healthcare provider due to location or being unable to travel to seek care.

Abbott Laboratories represents 1.76 billion in outstanding shares, while the company has a total market value of $195.87 billion with the latest information. ABT stock price has been found in the range of $108.54 to $111.35.

If compared to the average trading volume of 5.38M shares, ABT reached a trading volume of 4735299 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 $129.02 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.

Wolfe Research have made an estimate for Abbott Laboratories shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on July 06, 2022. While these analysts kept the previous recommendation, BofA Securities raised their target price to Buy. The new note on the price target was released on March 02, 2022, representing the official price target for Abbott Laboratories stock. Previously, the target price had yet another raise from $138 to $142, while UBS kept a Buy rating on ABT stock. On January 27, 2022, analysts decreased their price target for ABT shares from 150 to 143.

The Average True Range (ATR) for Abbott Laboratories is set at 2.44, with the Price to Sales ratio for ABT stock in the period of the last 12 months amounting to 4.30. The Price to Book ratio for the last quarter was 5.49, with the Price to Cash per share for the same quarter was set at 4.60. Price to Free Cash Flow for ABT in the course of the last twelve months was 35.97 with Quick ratio for the last quarter at 1.40.

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 -0.30. With this latest performance, ABT shares gained by 3.17% in over the last four-week period, additionally sinking by -8.09% over the last 6 months – not to mention a drop of -8.43% 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 53.57, with the RSI for the last a single of trading hit 56.72, and the three-weeks RSI is set at 51.37 for Abbott Laboratories [ABT]. The present Moving Average for the last 50 days of trading for this stock 110.18, while it was recorded at 109.43 for the last single week of trading, and 120.84 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 1.40 and a Current Ratio set at 1.90.

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 11.00%.

An analysis of insider ownership at Abbott Laboratories [ABT]

There are presently around $142,251 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 151,288,441, which is approximately 1.432% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 132,854,732 shares of the stock with an approximate value of $14.66 billion in ABT stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $8.9 billion in ABT stock with ownership of nearly -4.098% of the company’s market capitalization.

Positions in Abbott Laboratories stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 1,224 institutional holders increased their position in Abbott Laboratories [NYSE:ABT] by around 50,971,458 shares. Additionally, 1,216 investors decreased positions by around 60,639,137 shares, while 438 investors held positions by with 1,177,363,402 shares. The mentioned changes placed institutional holdings at 1,288,973,997 shares, according to the latest SEC report filing. ABT stock had 131 new institutional investments in for a total of 4,781,359 shares, while 161 institutional investors sold positions of 7,085,523 shares during the same period.