The stock of Abbott Laboratories (NYSE:ABT) decreased by -$1.42 on Monday to finish at $102.79, down -1.36 percent. The last five days have seen an average of 4,127,340 shares of common stock traded. 7 times new highs were reached in the current year, with a fall of -$7.00. The average number of shares traded over the last 20 days was 4,200,130, while the average volume over the last 50 days totaled 4,724,248.
ABT stock dropped -8.82% since last month. On 08/28/23, the company’s shares reached a one-month low of $101.89. The stock touched a high of $115.83 on 07/24/23, after rallying from a low of $93.25 in 52 weeks. The price of ABT stock has declined by -6.38% or -$7.00 this year, reaching a new high 7 times. Still, the stock price is down -11.26% from the 52-week high.
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Insider Transactions
ABT stock investors should be aware that Abbott Laboratories (ABT) stock had its last reported insider trading activity 21 days ago on Aug 08. On Aug 08, EXECUTIVE VICE PRESIDENT Wainer Andrea F sold 10,400 shares at $105.03 each. This transaction resulted in the insider making $1,092,297. On Jul 27, STARKS DANIEL J sold 50,000 shares at a price of US$113.76. After the transaction, the insider now owns 6,775,316 shares. Director STARKS DANIEL J had earlier sold 50,000 shares on May 02 for $111.02 a share. The transaction was completed for $5,551,193.
Valuation Metrics
Abbott Laboratories (ABT) has a trailing price-to-earnings (P/E) ratio of 34.95. Beta for the stock is 0.67. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 4.41, the price-to-book (PB) ratio of 4.81, and the price-to-cash flow ratio of 32.36.
Company paid $0.51 per share in dividends, remained unchanged from $0.51 last year. A $0.04 dividend increase was reported on Friday December 9 2022.
Financial Health
For the three months ended June 29, Abbott Laboratories’s quick ratio was 1.20, while its current ratio was 1.60, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.39, and the total debt to equity ratio is 0.45. As far as profitability goes, gross margin for the trailing twelve months is 55.20% percent. Abbott Laboratories’s EBITDA margin for the year ended June 29 was 26.64%, whereas its operating margin stood at 15.20% for the same period. Based on annual data, it had gross profit of $24.51 billion and revenue of $43.65 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. ABT’s return on assets (ROA) during the last 12 months has been 7.00%. There was a 13.00% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 14.10%.
Earnings Surprise
According to Abbott Laboratories’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $9.98 billion, while revenues fell by -12.82% to $9.75 billion. It was predicted that Abbott Laboratories’s quarterly earnings would be $1.08, but it ended up being $1.05, beating the consensus by 2.90%. EBITDA was $2.34 billion for the quarter. At the end of Abbott Laboratories’s most recent quarter ended June 29, its liabilities totaled 35.95 billion, while its total debt was $16.99 billion. Equity owned by shareholders amounts to $1.74 billion.
Technical Picture
Here’s a quick look at Abbott Laboratories’s (ABT) price momentum from a technical perspective. As of 28 August, the RSI 9-day stood at 32.21%, suggesting the stock is Neutral, with a 13.40% historical volatility rate.
The stochastic %K and %D were 16.02% and 20.95% respectively, while the average true range (ATR) was 1.87. Based on the 14-day stochastic reading of 17.69%, the RSI (14) reading is 36.05%. On the 9-day MACD Oscillator, the stock is at -0.65, and the 14-day reading is at -1.02.
Analyst Ratings
In its most recent analyst report, Wolfe Research raised its rating on Abbott Laboratories (NYSE: ABT) to a Peer perform. Prior to this, analysts firm rated the stock as an Underperform. Analysts have assigned Abbott Laboratories (ABT) an Overweight rating. ABT is a stock that is recommended for selling by 0 brokerage firms, while 7 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 5 rates it overweight and 13 others recommend it as a buy.
What is ABT’s price target for the next 12 months?
The current consensus forecast for the stock is between $112.00 and $136.00, with a median target price of $123.00. In analyzing these forecasts, the average price target given by analysts for Abbott Laboratories (ABT) is $124.02.
