Abbott Laboratories (ABT) Can’t Be More Hot. Just Reaches 52-Week High

January 20, 2018 - By Henry Gaston

Investors sentiment decreased to 0.87 in Q3 2017. Its down 0.01, from 0.88 in 2017Q2. It turned negative, as 47 investors sold Abbott Laboratories shares while 563 reduced holdings. 111 funds opened positions while 421 raised stakes. 1.21 billion shares or 0.79% less from 1.22 billion shares in 2017Q2 were reported.
Eaton Vance Mngmt accumulated 2.61 million shares or 0.36% of the stock. Verity Asset Management reported 0.22% stake. Jones Fincl Lllp accumulated 157,323 shares or 0.02% of the stock. Martingale Asset L P has 0% invested in Abbott Laboratories (NYSE:ABT) for 6,103 shares. 6,712 were reported by City Trust Comm Fl. Dodge & Cox stated it has 27,332 shares or 0% of all its holdings. First National has invested 0.49% in Abbott Laboratories (NYSE:ABT). Montgomery Inv Mgmt has 0.53% invested in Abbott Laboratories (NYSE:ABT). Cypress Management Lc holds 2.66% or 235,370 shares in its portfolio. Insight Capital Research & Mngmt invested 1.1% in Abbott Laboratories (NYSE:ABT). Fiera reported 0.01% stake. Moreover, First Foundation has 0.03% invested in Abbott Laboratories (NYSE:ABT). Stadion Money Mgmt Limited Liability Company owns 36,398 shares for 0.06% of their portfolio. Howland Ltd Co has invested 0.16% in Abbott Laboratories (NYSE:ABT). Newman Dignan & Sheerar holds 6,795 shares.

Since August 1, 2017, it had 0 insider buys, and 6 sales for $22.86 million activity. The insider Salvadori Daniel Gesua Sive sold 28,319 shares worth $1.56M. $98,323 worth of stock was sold by Bracken Sharon J on Tuesday, August 1. Another trade for 196,550 shares valued at $9.73M was sold by Fussell Stephen R.

The stock of Abbott Laboratories (NYSE:ABT) hit a new 52-week high and has $64.65 target or 9.00 % above today’s $59.31 share price. The 5 months bullish chart indicates low risk for the $103.24B company. The 1-year high was reported on Jan, 20 by Barchart.com. If the $64.65 price target is reached, the company will be worth $9.29 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 0.41% or $0.24 during the last trading session, reaching $59.31. About 7.36 million shares traded or 23.82% up from the average. Abbott Laboratories (NYSE:ABT) has risen 15.90% since January 20, 2017 and is uptrending. It has underperformed by 0.80% the S&P500.

Analysts await Abbott Laboratories (NYSE:ABT) to report earnings on January, 24 before the open. They expect $0.73 earnings per share, up 12.31 % or $0.08 from last year’s $0.65 per share. ABT’s profit will be $1.27B for 20.31 P/E if the $0.73 EPS becomes a reality. After $0.66 actual earnings per share reported by Abbott Laboratories for the previous quarter, Wall Street now forecasts 10.61 % EPS growth.

Abbott Laboratories (NYSE:ABT) Ratings Coverage

Among 25 analysts covering Abbott Laboratories (NYSE:ABT), 18 have Buy rating, 0 Sell and 7 Hold. Therefore 72% are positive. Abbott Laboratories has $90 highest and $4 lowest target. $51.95’s average target is -12.41% below currents $59.31 stock price. Abbott Laboratories had 92 analyst reports since July 24, 2015 according to SRatingsIntel. The stock of Abbott Laboratories (NYSE:ABT) earned “Buy” rating by Jefferies on Friday, June 16. The company was maintained on Thursday, July 20 by Stifel Nicolaus. The firm earned “Buy” rating on Tuesday, August 15 by Cowen & Co. The company was maintained on Tuesday, July 11 by Morgan Stanley. The stock of Abbott Laboratories (NYSE:ABT) has “Market Perform” rating given on Tuesday, March 14 by BMO Capital Markets. The firm has “Buy” rating by Jefferies given on Tuesday, June 14. The stock has “Buy” rating by Edward Jones on Tuesday, June 21. Jefferies maintained Abbott Laboratories (NYSE:ABT) on Tuesday, March 15 with “Buy” rating. Jefferies maintained Abbott Laboratories (NYSE:ABT) on Tuesday, September 13 with “Buy” rating. The stock has “Market Perform” rating by William Blair on Friday, January 29.

More notable recent Abbott Laboratories (NYSE:ABT) news were published by: Cnbc.com which released: “Abbott shares gain after JP Morgan upgrades them to overweight” on January 02, 2018, also Nasdaq.com with their article: “Ex-Dividend Reminder: Patterson Companies, AbbVie and Abbott Laboratories” published on January 09, 2018, Seekingalpha.com published: “Abbott Laboratories’ (ABT) Management Presents at 36th Annual JPMorgan …” on January 09, 2018. More interesting news about Abbott Laboratories (NYSE:ABT) were released by: Cnbc.com and their article: “Medicare to cover new glucose monitor, giving Abbott an edge over rival Dexcom” published on January 04, 2018 as well as Chicagotribune.com‘s news article titled: “Selle: With opioid suit, Nerheim takes jab at Abbott Labs” with publication date: December 25, 2017.

Abbott Laboratories manufactures and sells health care products worldwide. The company has market cap of $103.24 billion. The companyÂ’s Established Pharmaceutical Products segment offers branded generic pharmaceuticals to treat pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; anti-infective clarithromycin; cardiovascular and metabolic products; and influenza vaccines, as well as to regulate physiological rhythm of the colon. It has a 47.87 P/E ratio. The Company’s Diagnostic Products segment provides immunoassay and clinical chemistry systems; assays used to screen and/or diagnosis cancer, cardiac, drugs of abuse, fertility, infectious diseases, and therapeutic drug monitoring; hematology systems and reagents; diagnostic systems and cartridges; instruments to automate the extraction, purification, and preparation of DNA and RNA from patient samples, and detects and measures infectious agents; genomic tests; informatics and automation solutions; and a suite of informatics tools and professional services.

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