Price Action to Note: Is Abbott Laboratories’s Fuel Running Low? The Stock Just Declined Again

Price Action to Note: Is Abbott Laboratories's Fuel Running Low? The Stock Just Declined Again

The stock of Abbott Laboratories (NYSE:ABT) is a huge mover today! About 20.72 million shares traded hands or 162.28% up from the average. Abbott Laboratories (NYSE:ABT) has risen 11.05% since March 8, 2016 and is uptrending. It has outperformed by 1.74% the S&P500.
The move comes after 8 months negative chart setup for the $61.19 billion company. It was reported on Oct, 11 by We have $37.42 PT which if reached, will make NYSE:ABT worth $5.51 billion less.

Analysts await Abbott Laboratories (NYSE:ABT) to report earnings on October, 19. They expect $0.58 earnings per share, up 7.41% or $0.04 from last year’s $0.54 per share. ABT’s profit will be $863.09M for 17.72 P/E if the $0.58 EPS becomes a reality. After $0.55 actual earnings per share reported by Abbott Laboratories for the previous quarter, Wall Street now forecasts 5.45% EPS growth.

Abbott Laboratories (NYSE:ABT) Ratings Coverage

Out of 16 analysts covering Abbott Laboratories (NYSE:ABT), 9 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 56% are positive. Abbott Laboratories has been the topic of 40 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was upgraded by Argus Research on Friday, February 5 to “Buy”. The stock of Abbott Laboratories (NYSE:ABT) earned “Buy” rating by Edward Jones on Tuesday, June 21. On Tuesday, September 13 the stock rating was maintained by Jefferies with “Buy”. The firm has “Outperform” rating by RBC Capital Markets given on Friday, October 9. As per Saturday, August 29, the company rating was maintained by Deutsche Bank. The firm earned “Neutral” rating on Tuesday, September 22 by UBS. The firm has “Neutral” rating by Goldman Sachs given on Friday, November 13. Piper Jaffray downgraded it to “Neutral” rating and $82 target price in Thursday, April 28 report. The company was maintained on Saturday, August 29 by BTIG Research. As per Thursday, July 23, the company rating was maintained by Stifel Nicolaus.

According to Zacks Investment Research, “Abbott is a global healthcare company devoted to improving life through the development of products and technologies that span the breadth of healthcare. They have a portfolio of leading, science-based offerings in diagnostics, medical devices, nutritionals and branded generic pharmaceuticals.”

Insitutional Activity: The institutional sentiment increased to 1.05 in Q2 2016. Its up 0.18, from 0.87 in 2016Q1. The ratio increased, as 68 funds sold all Abbott Laboratories shares owned while 488 reduced positions. 79 funds bought stakes while 507 increased positions. They now own 1.05 billion shares or 2.91% more from 1.02 billion shares in 2016Q1.
Rnc Cap Management Llc holds 0.03% or 9,170 shares in its portfolio. Amica Mutual, a Rhode Island-based fund reported 135,142 shares. The California-based Bailard has invested 0.05% in Abbott Laboratories (NYSE:ABT). Gamco Invsts Et Al owns 13,685 shares or 0% of their US portfolio. Wfg Advsr Lp holds 7,160 shares or 0.07% of its portfolio. Cornerstone Inc owns 298,758 shares or 2.56% of their US portfolio. First Western Capital holds 1.3% or 90,304 shares in its portfolio. Nomura Inc has 0.05% invested in the company for 375,964 shares. Loudon Inv Ltd Limited Liability Company has 0.36% invested in the company for 11,396 shares. Jefferies Gru Limited Liability Co last reported 0% of its portfolio in the stock. Moreover, Norman Fields Gottscho Mgmt Limited Liability Com has 0.37% invested in Abbott Laboratories (NYSE:ABT) for 13,334 shares. Asset Group accumulated 0.25% or 14,895 shares. Stadion Money Mngmt Limited Liability Company holds 70,971 shares or 0.1% of its portfolio. Bridgeway Cap Mngmt owns 592,700 shares or 0.36% of their US portfolio. Covington Inv Advisors owns 40,505 shares or 0.7% of their US portfolio.

Insider Transactions: Since April 28, 2016, the stock had 1 buy, and 8 insider sales for $6.08 million net activity. $20,770 worth of Abbott Laboratories (NYSE:ABT) was sold by Watkin Jared on Wednesday, June 15. Another trade for 3,400 shares valued at $126,276 was made by ALLEN HUBERT L on Tuesday, June 28. Another trade for 26,800 shares valued at $1.15 million was sold by Funck Robert E. Another trade for 41,500 shares valued at $1.87 million was sold by Fussell Stephen R. Shares for $10.47 million were bought by WHITE MILES D on Monday, July 25. The insider Warmuth Michael J sold $1.17 million. $22,312 worth of Abbott Laboratories (NYSE:ABT) shares were sold by YOOR BRIAN B.

More notable recent Abbott Laboratories (NYSE:ABT) news were published by: which released: “Cramer Says St. Jude Is A ‘Very Responsible Company’ But Abbott Needs To ‘Take …” on October 11, 2016, also with their article: “Abbott Laboratories and Johnson & Johnson Battle for the Top Spot in the …” published on September 30, 2016, published: “EU ruling on $25 billion Abbott, St. Jude deal due by November 9” on October 04, 2016. More interesting news about Abbott Laboratories (NYSE:ABT) were released by: and their article: “Johnson & Johnson (JNJ) Stock Lower, Buys Abbott Laboratories’ Medical Optics …” published on September 16, 2016 as well as‘s news article titled: “BRIEF-Terumo Corp looks to purchase portion of Abbott Laboratories’ medica…” with publication date: September 29, 2016.

ABT Company Profile

Abbott Laboratories (Abbott), incorporated on March 6, 1900, is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Firm operates in four business divisions: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products. The Nutrition Products segment includes the sales of a line of adult and pediatric nutritional products. The Diagnostic Products includes the sales of diagnostic systems and tests for blood banks, hospitals, commercial laboratories and alternate-care testing sites. The Vascular Products includes the sales of coronary, endovascular, structural heart, vessel closure and other medical device products.

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