Abbott Laboratories (NYSE: ABT)’s stock price has dropped by -0.25 in relation to previous closing price of 105.90. Nevertheless, the company has seen a loss of -1.52% in its stock price over the last five trading days. InvestorPlace reported 2024-05-01 that Healthcare stocks certainly haven’t set the world on fire lately. The S&P Health Care Index is up 3% so far in 2024 compared to an 8% gain in the benchmark S&P 500.
Is It Worth Investing in Abbott Laboratories (NYSE: ABT) Right Now?
The price-to-earnings ratio for Abbott Laboratories (NYSE: ABT) is above average at 32.91x, Company’s 36-month beta value is 0.75.Analysts have differing opinions on the stock, with 6 analysts rating it as a “buy,” 7 as “overweight,” 7 as “hold,” and 0 as “sell.”
The public float for ABT is 1.73B, and currently, short sellers hold a 0.75% ratio of that floaft. The average trading volume of ABT on May 07, 2024 was 5.61M shares.
ABT’s Market Performance
ABT stock saw a decrease of -1.52% in the past week, with a monthly decline of -5.00% and a quarterly a decrease of -5.38%. The volatility ratio for the week is 1.12%, and the volatility levels for the last 30 days are 1.62% for Abbott Laboratories (ABT).. The simple moving average for the past 20 days is -2.12% for ABT’s stock, with a -0.96% simple moving average for the past 200 days.
Analysts’ Opinion of ABT
Morgan Stanley, on the other hand, stated in their research note that they expect to see ABT reach a price target of $112. The rating they have provided for ABT stocks is “Equal-Weight” according to the report published on May 30th, 2023.
Wolfe Research gave a rating of “Underperform” to ABT, setting the target price at $103 in the report published on April 20th of the previous year.
ABT Trading at -6.23% from the 50-Day Moving Average
After a stumble in the market that brought ABT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -13.15% of loss for the given period.
Volatility was left at 1.62%, however, over the last 30 days, the volatility rate increased by 1.12%, as shares sank -4.42% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -11.57% lower at present.
During the last 5 trading sessions, ABT fell by -1.52%, which changed the moving average for the period of 200-days by -5.54% in comparison to the 20-day moving average, which settled at $107.68. In addition, Abbott Laboratories saw -4.02% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ABT starting from Salvadori Daniel Gesua Sive, who sale 963 shares at the price of $118.50 back on Mar 01 ’24. After this action, Salvadori Daniel Gesua Sive now owns 125,697 shares of Abbott Laboratories, valued at $114,116 using the latest closing price.
ALLEN HUBERT L, the EXECUTIVE VICE PRESIDENT of Abbott Laboratories, sale 853 shares at $118.50 during a trade that took place back on Mar 01 ’24, which means that ALLEN HUBERT L is holding 184,806 shares at $101,080 based on the most recent closing price.
Stock Fundamentals for ABT
Current profitability levels for the company are sitting at:
- 0.17 for the present operating margin
- 0.54 for the gross margin
The net margin for Abbott Laboratories stands at 0.14. The total capital return value is set at 0.12. Equity return is now at value 14.80, with 7.67 for asset returns.
Based on Abbott Laboratories (ABT), the company’s capital structure generated 0.27 points at debt to capital in total, while cash flow to debt ratio is standing at 0.49. The debt to equity ratio resting at 0.38. The interest coverage ratio of the stock is 10.86.
Currently, EBITDA for the company is 10.59 billion with net debt to EBITDA at 0.9. When we switch over and look at the enterprise to sales, we see a ratio of 4.76. The receivables turnover for the company is 6.11for trailing twelve months and the total asset turnover is 0.56. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.60.
Conclusion
In a nutshell, Abbott Laboratories (ABT) has experienced a bad performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
