Abbott Laboratories [NYSE: ABT] stock went on a downward path that fall over -0.83% on Monday, amounting to a one-week price decrease of less than -4.08%. The company report on September 17, 2022 that Late-Breaking Data Show Breadth of Abbott’s Minimally Invasive Structural Heart Technologies.
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Five late-breaking presentations at TCT 2022 highlight the impact of Abbott’s structural heart devices to repair or replace heart valves and close openings in the heart.
New data reinforce the safety and effectiveness of MitraClip™ for treating mitral regurgitation.
Over the last 12 months, ABT stock dropped by -19.72%. The one-year Abbott Laboratories stock forecast points to a potential upside of 20.09. The average equity rating for ABT stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $175.52 billion, with 1.75 billion shares outstanding and 1.74 billion shares in the current float. Compared to the average trading volume of 4.69M shares, ABT stock reached a trading volume of 6022052 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 $124.94 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 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 2.22, with the Price to Sales ratio for ABT stock in the period of the last 12 months amounting to 3.85. The Price to Book ratio for the last quarter was 4.80, with the Price to Cash per share for the same quarter was set at 5.28. Price to Free Cash Flow for ABT in the course of the last twelve months was 33.70 with Quick ratio for the last quarter at 1.50.
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 -4.08. With this latest performance, ABT shares dropped by -5.71% in over the last four-week period, additionally sinking by -16.07% over the last 6 months – not to mention a drop of -19.72% 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 33.88, with the RSI for the last a single of trading hit 28.67, and the three-weeks RSI is set at 37.17 for Abbott Laboratories [ABT]. The present Moving Average for the last 50 days of trading for this stock 106.89, while it was recorded at 100.91 for the last single week of trading, and 116.77 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 +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 2.00.
ABT Stock EPS
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%.
Abbott Laboratories [ABT] Insider Position Details
There are presently around $129,661 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 152,551,738, which is approximately 0.835% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 135,406,658 shares of the stock with an approximate value of $13.52 billion in ABT stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $8.0 billion in ABT stock with ownership of nearly -0.719% 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 1,172 institutional holders increased their position in Abbott Laboratories [NYSE:ABT] by around 46,837,392 shares. Additionally, 1,249 investors decreased positions by around 36,191,291 shares, while 416 investors held positions by with 1,215,656,032 shares. The mentioned changes placed institutional holdings at 1,298,684,715 shares, according to the latest SEC report filing. ABT stock had 99 new institutional investments in for a total of 2,528,543 shares, while 122 institutional investors sold positions of 2,840,105 shares during the same period.