Abbott Laboratories (NYSE:ABT) saw a downside of -1.27% to close Tuesday at $96.23 after subtracting -$1.24 on the day. The 5-day average trading volume is 4,066,380 shares of the company’s common stock. It has gained $101.35 in the past week and touched a new high 1 time within the past 5 days. An average of 4,187,685 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,398,230.
ABT’s 1-month performance is -7.66% or -$7.98 on its low of $96.03 reached on 09/26/23. The company’s shares have touched a 52-week low of $93.25 and high of $115.83, with the stock’s rally to the 52-week high happening on 07/24/23. YTD, ABT has lost -12.35% or -$13.56 and has reached a new high 7 times. However, the current price is down -16.92% from the 52-week high price.
Insider Transactions
ABT stock investors last saw insider trading activity on Aug 08.Wainer Andrea F (EXECUTIVE VICE PRESIDENT) most recently sold 10,400 shares at $105.03 per share on Aug 08. This transaction cost the insider $1,092,297. Director, STARKS DANIEL J, sold 50,000 shares at a price of $113.76 on Jul 27. Then, on May 02, Director STARKS DANIEL J sold 50,000 shares at a price of $111.02 per share. This transaction amounted to $5,551,193.
Valuation Metrics
ABT stock has a beta of 0.68. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 4.15 while the price-to-book (PB) in the most recent quarter is 4.49, with the price to cash flow ratio at 30.43.
Abbott Laboratories’s quick ratio for the period ended June 29 was 1.16, with the current ratio over the same period at 1.64. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.39, while the total debt to equity was 0.45.. In terms of profitability, the gross margin trailing 12 months is 49.55%. The trailing 12-month EBITDA margin is 26.64% while for the period ending June 29, Abbott Laboratories’s operating margin was 15.05%. The firm’s gross profit as reported stood at $24.51 billion against revenue of $43.65 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -46.76% to $1.38 billion, while revenue of $1.32 billion was 4.15% off the previous quarter. Analysts expected ABT to announce $1.05 per share in earnings in its latest quarter, but it posted $1.08, representing a 2.90% surprise. EBITDA for the quarter stood at more than $2.34 billion. ABT stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 35.95 billion, with total debt at $16.99 billion. Shareholders hold equity totaling $1.74 billion.
Let’s look briefly at Abbott Laboratories (ABT) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 26 September was 16.21% to suggest the stock is trending oversold, with historical volatility in this time period at 2.56%.
The stock’s 5-day moving average is $98.21, reflecting a -4.41% or -$4.44 change from its current price. ABT is currently trading -6.38% above its 20-day SMA, -13.90% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -10.07% and SMA200 by-8.19%.
Stochastic %K and %D was 3.28% and 3.70% and the average true range (ATR) pointed at 1.42. The RSI (14) points at 23.58%, while the 14-day stochastic is at 2.64% with the period’s ATR at 1.51. The stock’s 9-day MACD Oscillator is pointing at -2.40 and -3.15 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Abbott Laboratories (NYSE: ABT), Wolfe Research upgraded it to a Peer perform rating. They previously had an Underperform rating on the stock. Analysts offering their rating for ABT stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate ABT as a “sell,”, while 7 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 5 rates the stock as overweight while 13 have offered a “buy” rating.
What is ABT’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $112.00 and a high of $136.00, with their median price target at $123.00. Looking at these predictions, the average price target given by analysts is for Abbott Laboratories (ABT) stock is $124.02.
