Abbott Laboratories [NYSE: ABT] stock went on an upward path that rose over 1.94% on Monday, amounting to a one-week price increase of more than 0.83%. The company report on November 13, 2023 at 9:00 AM that Late-Breaking Data Show an Aspirin-Free Medication Regimen Benefits People with Abbott’s HeartMate 3™ Heart Pump.
New data from the ARIES trial show for the first time that an aspirin-free regimen can improve outcomes for people living with the heart pump by reducing hospitalizations without increasing the risk of blood clots.
More than 30,000 people worldwide have received Abbott’s life-saving heart pump to overcome advanced heart failure.
Over the last 12 months, ABT stock dropped by -8.10%. The one-year Abbott Laboratories stock forecast points to a potential upside of 16.96. The average equity rating for ABT stock is currently 1.80, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $166.30 billion, with 1.74 billion shares outstanding and 1.72 billion shares in the current float. Compared to the average trading volume of 5.29M shares, ABT stock reached a trading volume of 6874496 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 $115.36 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 1.80. 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 2.01, with the Price to Sales ratio for ABT stock in the period of the last 12 months amounting to 4.16. The Price to Book ratio for the last quarter was 4.44, with the Price to Cash per share for the same quarter was set at 4.06. Price to Free Cash Flow for ABT in the course of the last twelve months was 37.02 with Quick ratio for the last quarter at 1.23.
ABT Stock Performance Analysis:
Abbott Laboratories [ABT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.83. With this latest performance, ABT shares gained by 5.41% in over the last four-week period, additionally sinking by -12.79% over the last 6 months – not to mention a drop of -8.10% 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 52.44, with the RSI for the last a single of trading hit 57.45, and the three-weeks RSI is set at 49.16 for Abbott Laboratories [ABT]. The present Moving Average for the last 50 days of trading for this stock 96.65, while it was recorded at 94.57 for the last single week of trading, and 103.45 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 1.23 and a Current Ratio set at 1.74.
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 -2.00%.
Abbott Laboratories [ABT] Institutonal Ownership Details
The top three institutional holders of ABT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in ABT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in ABT stock with ownership which is approximately 5.7994%.