Mizuho lifts Abbott Laboratories [ABT] price estimate. Who else is bullish?

Abbott Laboratories [NYSE: ABT] price plunged by -1.37 percent to reach at -$1.35. The company report on March 28, 2023 that Don’t Mess With Your ‘Melon’: Abbott and the Brain Injury Association of America Urge ‘If You Hit Your Head, Get It Checked’ In New Public Service Announcement.

The Concussion Awareness Now campaign raises awareness both about the common, everyday ways concussions most often happen and the importance of getting concussions evaluated.

Concussion Awareness Now is a coalition of nearly 20 advocacy groups, founded by Abbott and the Brain Injury Association of America, with Rebel Wilson as the group’s inaugural spokesperson.

A sum of 4814229 shares traded at recent session while its average daily volume was at 5.04M shares. Abbott Laboratories shares reached a high of $98.24 and dropped to a low of $96.61 until finishing in the latest session at $97.11.

The one-year ABT stock forecast points to a potential upside of 21.67. The average equity rating for ABT stock is currently 2.00, trading closer to a bullish pattern in the stock market.

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 $123.97 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.

Mizuho have made an estimate for Abbott Laboratories shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 26, 2022. While these analysts kept the previous recommendation, Barclays raised their target price to Overweight. The new note on the price target was released on October 18, 2022, representing the official price target for Abbott Laboratories stock. Previously, the target price had yet another raise to $110, while Jefferies analysts kept a Hold rating on ABT stock.

The Average True Range (ATR) for Abbott Laboratories is set at 1.92, with the Price to Sales ratio for ABT stock in the period of the last 12 months amounting to 3.83. The Price to Book ratio for the last quarter was 4.62, with the Price to Cash per share for the same quarter was set at 5.91. Price to Free Cash Flow for ABT in the course of the last twelve months was 37.16 with Quick ratio for the last quarter at 1.20.

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 -1.24. With this latest performance, ABT shares dropped by -2.67% in over the last four-week period, additionally sinking by -2.73% over the last 6 months – not to mention a drop of -18.36% 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 38.70, with the RSI for the last a single of trading hit 39.60, and the three-weeks RSI is set at 38.99 for Abbott Laboratories [ABT]. The present Moving Average for the last 50 days of trading for this stock 104.79, while it was recorded at 97.50 for the last single week of trading, and 105.40 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 +19.16 and a Gross Margin at +51.14. Abbott Laboratories’s Net Margin is presently recorded at +15.82.

Return on Total Capital for ABT is now 15.19, given the latest momentum, and Return on Invested Capital for the company is 13.00. Return on Equity for this stock inclined to 19.05, with Return on Assets sitting at 9.23. When it comes to the capital structure of this company, Abbott Laboratories [ABT] has a Total Debt to Total Equity ratio set at 48.92. Additionally, ABT Total Debt to Total Capital is recorded at 32.85, with Total Debt to Total Assets ending up at 24.11. Long-Term Debt to Equity for the company is recorded at 42.16, with the Long-Term Debt to Total Capital now at 28.31.

Reflecting on the efficiency of the workforce at the company, Abbott Laboratories [ABT] managed to generate an average of $60,043 per employee. Receivables Turnover for the company is 6.87 with a Total Asset Turnover recorded at a value of 0.58.Abbott Laboratories’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.60.

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 8.30%.

Abbott Laboratories [ABT] Insider Position Details

There are presently around $128,689 million, or 76.20% of ABT stock, in the hands of institutional investors. The top three institutional holders of ABT stocks are: VANGUARD GROUP INC with ownership of 155,480,794, which is approximately 0.594% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 137,935,172 shares of the stock with an approximate value of $13.58 billion in ABT stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $7.56 billion in ABT stock with ownership of nearly -2.565% of the company’s market capitalization.

Positions in Abbott Laboratories stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 1,302 institutional holders increased their position in Abbott Laboratories [NYSE:ABT] by around 58,566,644 shares. Additionally, 1,213 investors decreased positions by around 52,060,490 shares, while 381 investors held positions by with 1,196,386,738 shares. The mentioned changes placed institutional holdings at 1,307,013,872 shares, according to the latest SEC report filing. ABT stock had 280 new institutional investments in for a total of 7,362,123 shares, while 111 institutional investors sold positions of 4,340,895 shares during the same period.