Abbott Laboratories [NYSE: ABT] price surged by 1.71 percent to reach at $1.72. The company report on September 11, 2023 at 8:30 AM that Less Is More: Abbott’s Approach to Packaging Innovation.
It’s said that haste makes waste, but Abbott is making swift progress toward its goal of addressing 50 million pounds of packaging by 2030, just one component of our comprehensive 2030 Sustainability Plan.
A sum of 4891129 shares traded at recent session while its average daily volume was at 4.63M shares. Abbott Laboratories shares reached a high of $103.13 and dropped to a low of $100.55 until finishing in the latest session at $102.45.
The one-year ABT stock forecast points to a potential upside of 17.67. 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 $124.44 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 Peer Perform, with their previous recommendation back on July 21, 2023.
The Average True Range (ATR) for Abbott Laboratories is set at 1.78, with the Price to Sales ratio for ABT stock in the period of the last 12 months amounting to 4.42. 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 4.70. Price to Free Cash Flow for ABT in the course of the last twelve months was 32.38 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 -0.39. With this latest performance, ABT shares dropped by -2.19% in over the last four-week period, additionally plugging by 5.66% over the last 6 months – not to mention a drop of -4.24% 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 43.06, with the RSI for the last a single of trading hit 45.41, and the three-weeks RSI is set at 43.14 for Abbott Laboratories [ABT]. The present Moving Average for the last 50 days of trading for this stock 106.66, while it was recorded at 101.26 for the last single week of trading, and 106.41 for the last 200 days.
Insight into Abbott Laboratories Fundamentals:
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 -2.10%.
Abbott Laboratories [ABT] Institutonal Ownership Details
The top three institutional holders of ABT stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in ABT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in ABT stock with ownership which is approximately 5.7381%.