Why Abbott Laboratories (ABT) is the topic of conversation today

Abbott Laboratories (NYSE: ABT) is 28.13% higher on its value in year-to-date trading and has touched a low of $61.61 and a high of $103.29 in the current 52-week trading range. The ABT stock was last observed hovering at around $103.19 in the last trading session, with the day’s gains setting it 8.1% off its average median price target of $110.00 for the next 12 months. It is also 14.39% off the consensus price target high of $130.00 offered by 20 analysts, but current levels are -18.39% lower than the price target low of $94.00 for the same period.

Currently trading at $111.29, the stock is 10.08% and 14.73% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 35.69 million and changing 7.85% at the moment leaves the stock 24.99% off its SMA200. ABT registered 32.14% gain for a year compared to 6-month gain of 44.48%. The firm has a 50-day simple moving average (SMA 50) of $99.48 and a 200-day simple moving average (SMA200) of $90.14.

The stock witnessed a 8.55% loss in the last 1 month and extending the period to 3 months gives it a 17.25%, and is 9.51% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.33% over the week and 1.80% over the month.

Abbott Laboratories (ABT) has around 107000 employees, a market worth around $195.56B and $31.44B in sales. Current P/E ratio is 64.37 and Fwd P/E is 28.59. Profit margin for the company is 9.90%. Distance from 52-week low is 80.64% and 7.75% from its 52-week high. The company has generated returns on investments over the last 12 months (8.20%).

Abbott Laboratories (ABT) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Abbott Laboratories (ABT) is a “Overweight”. 20 analysts offering their recommendations for the stock have an average rating of 1.90, where 3 rate it as a Hold and 2 think it is a “Overweight”. 13 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Abbott Laboratories is expected to release its quarterly report on 10/14/2020 and quarterly earnings per share for the current quarter are estimated at $0.88 with sales reaching $8.47B over the same period. The EPS is expected to grow by 45.20% this year, but quarterly earnings will post 2.60% year-over-year. Quarterly sales are estimated to grow 4.90% in year-over-year returns.

Abbott Laboratories (ABT) Top Institutional Holders

2,657 institutions hold shares in Abbott Laboratories (ABT), with 12.85M shares held by insiders accounting for 0.73% while institutional investors hold 77.74% of the company’s shares. The shares outstanding are 1.77B, and float is at 1.76B with Short Float at 0.72%. Institutions hold 77.18% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 150.04 million shares valued at $13.72 billion. The investor’s holdings represent 19.47% of the ABT Shares outstanding. As of Jun 29, 2020, the second largest holder is Blackrock Inc. with 134.75 million shares valued at $12.32 billion to account for 17.49% of the shares outstanding. The other top investors are Capital Research Global Investors which holds 87.42 million shares representing 11.35% and valued at over $7.99 billion, while State Street Corporation holds 9.68% of the shares totaling 74.56 million with a market value of $6.82 billion.

Abbott Laboratories (ABT) Insider Activity

A total of 94 insider transactions have happened at Abbott Laboratories (ABT) in the last six months, with sales accounting for 63 and purchases happening 31 times. The most recent transaction is an insider sale by NOVAKOVIC PHEBE N, the company’s Director. SEC filings show that NOVAKOVIC PHEBE N sold 933 shares of the company’s common stock on Jul 23 at a price of $100.78 per share for a total of $94026.0. Following the sale, the insider now owns 31113.0 shares.

Abbott Laboratories disclosed in a document filed with the SEC on Jul 22 that AUSTIN ROXANNE S (Director) sold a total of 6,844 shares of the company’s common stock. The trade occurred on Jul 22 and was made at $99.80 per share for $0.68 million. Following the transaction, the insider now directly holds 40043.0 shares of the ABT stock.

Still, SEC filings show that on Jul 21, PEDERSON MICHAEL J (Senior Vice President) disposed off 23,008 shares at an average price of $98.00 for $2.25 million. The insider now directly holds 73,891 shares of Abbott Laboratories (ABT).

Abbott Laboratories (ABT): Who are the competitors?

The company’s main competitors (and peers) include Thermo Fisher Scientific Inc. (TMO) that is trading 52.33% up over the past 12 months. Johnson & Johnson (JNJ) is 18.88% up on the 1-year trading charts. Short interest in the company’s stock has fallen -0.79% from the last report on Jul 14, 2020 to stand at a total of 10.17 million short shares sold with a short interest ratio of 2.28.