In yesterday’s Wall Street session, Abbott Laboratories (NYSE:ABT) shares traded at $111.50, up 1.35% from the previous session.
ABT stock price is now -3.21% away from the 50-day moving average and 4.91% away from the 200-day moving average. The market capitalization of the company currently stands at $193.47B.
On May 30, 2023, Morgan Stanley Downgraded its previous ‘Overweight’ rating to ‘Equal-Weight’ on the stock keeping its target price maintained at $112, while ‘Wolfe Research’ rates the stock as ‘Underperform’
In other news, Salvadori Daniel Gesua Sive, EXECUTIVE VICE PRESIDENT sold 963 shares of the company’s stock on Mar 01 ’24. The stock was sold for $114,116 at an average price of $118.50. Upon completion of the transaction, the EXECUTIVE VICE PRESIDENT now directly owns 125,697 shares in the company, valued at $14.02 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 01 ’24, EXECUTIVE VICE PRESIDENT ALLEN HUBERT L sold 853 shares of the business’s stock. A total of $101,080 was realized by selling the stock at an average price of $118.50. This leaves the insider owning 184,806 shares of the company worth $20.61 million. A total of 0.73% of the company’s stock is owned by insiders.
During the past 12 months, Abbott Laboratories has had a low of $89.67 and a high of $121.64. As of last week, the company has a debt-to-equity ratio of 0.41, a current ratio of 1.64, and a quick ratio of 1.16. According to the stock market information, the enterprise value for the company is $201.82B, which is based on a 34.14 price-to-earnings ratio, a 4.38 price-to-earnings-growth ratio, and a beta of 0.74. The fifty day moving average price for ABT is $115.15 and a two-hundred day moving average price translates $106.33 for the stock.
The latest earnings results from Abbott Laboratories (NYSE: ABT) was released for Dec, 2023. According to the Medical Devices Company, earnings per share came in at $1.19, inline with analysts’ expectations of $1.19. This compares to $0.59 EPS in the same period last year. The net profit margin was 14.22% and return on equity was 15.15% for ABT. The company reported revenue of $10.24 billion for the quarter, compared to $10.09 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 1.49 percent. For the current quarter, analysts expect ABT to generate $9.89B in revenue.
Abbott Laboratories(ABT) Company Profile
Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon. It also offers laboratory and transfusion medicine systems in the areas of immunoassay, clinical chemistry, hematology, and transfusion; molecular diagnostics polymerase chain reaction instrument systems that automate the extraction, purification, and preparation of DNA and RNA from patient samples, and detect and measure infectious agents; point of care systems; cartridges for testing blood gas, chemistry, electrolytes, coagulation, and immunoassay; rapid diagnostics lateral flow testing products; molecular point-of-care testing for HIV, SARS-CoV-2, influenza A and B, RSV, and strep A; cardiometabolic test systems; drug and alcohol test, and remote patient monitoring and consumer self-test systems; and informatics and automation solutions for laboratories. In addition, the company provides pediatric and adult nutritional products; rhythm management, electrophysiology, heart failure, vascular, and structural heart devices for the treatment of cardiovascular diseases; diabetes care products, such as glucose and blood glucose monitoring systems; and neuromodulation devices for the management of chronic pain and movement disorders. Abbott Laboratories was founded in 1888 and is based in North Chicago, Illinois.
