Abbott Laboratories [NYSE: ABT] slipped around -0.07 points on Tuesday, while shares priced at $112.02 at the close of the session, down -0.06%. The company report on April 2, 2024 at 9:00 AM that Abbott Receives FDA Approval for TriClip™, First-of-Its-Kind Device to Repair Leaky Tricuspid Heart Valve.
TriClip offers a remarkably safe, minimally invasive treatment option for patients in need of tricuspid valve repair but who are unable to withstand surgery.
More than 1.6 million people in the U.S. are affected by tricuspid regurgitation,1 which can severely impact quality of life.
Compared to the average trading volume of 5.72M shares, ABT reached a trading volume of 4559575 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say 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 $125.78 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 1.88. 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 new note on the price target was released on May 30, 2023, representing the official price target for Abbott Laboratories stock. Previously, the target price had yet another drop from $107 to $103, while Wolfe Research kept a Underperform rating on ABT stock. On April 20, 2023, analysts increased their price target for ABT shares from 117 to 130.
The Average True Range (ATR) for Abbott Laboratories is set at 1.97, with the Price to Sales ratio for ABT stock in the period of the last 12 months amounting to 4.85. The Price to Book ratio for the last quarter was 5.03, with the Price to Cash per share for the same quarter was set at 4.19. Price to Free Cash Flow for ABT in the course of the last twelve months was 38.42 with Quick ratio for the last quarter at 1.16.
How has ABT stock performed recently?
Abbott Laboratories [ABT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.83. With this latest performance, ABT shares dropped by -5.56% in over the last four-week period, additionally plugging by 15.66% over the last 6 months – not to mention a rise of 13.06% 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 41.23, with the RSI for the last a single of trading hit 39.27, and the three-weeks RSI is set at 44.04 for Abbott Laboratories [ABT]. The present Moving Average for the last 50 days of trading for this stock 115.05, while it was recorded at 112.55 for the last single week of trading, and 106.55 for the last 200 days.
Abbott Laboratories [ABT]: Deeper insight into the fundamentals
Abbott Laboratories’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.16 and a Current Ratio set at 1.64.
Earnings analysis for Abbott Laboratories [ABT]
With the latest financial reports released by the company, Abbott Laboratories posted 0.94/share EPS, while the average EPS was predicted by analysts to be reported at 0.9/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 4.40%. 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 7.80%.
Insider trade positions for Abbott Laboratories [ABT]
The top three institutional holders of ABT stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in ABT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in ABT stock with ownership which is approximately 5.8386%.
