Could Abbott Laboratories (NYSE:ABT) See a Reversal After More Sellers Came In?

February 21, 2018 - By Vivian Currie

 Could Abbott Laboratories (NYSE:ABT) See a Reversal After More Sellers Came In?

Investors sentiment decreased to 0.87 in 2017 Q3. Its down 0.01, from 0.88 in 2017Q2. It worsened, 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.
Orrstown Service reported 19,243 shares or 1.15% of all its holdings. Burney has 48,047 shares. Aull & Monroe Management Corporation, a Alabama-based fund reported 32,211 shares. Moreover, Broderick Brian C has 2.41% invested in Abbott Laboratories (NYSE:ABT). Northstar reported 0.3% of its portfolio in Abbott Laboratories (NYSE:ABT). Old Mutual Customised Solutions (Proprietary) Ltd invested 0.19% of its portfolio in Abbott Laboratories (NYSE:ABT). 1.41M were accumulated by Atlantic Trust Gp Limited Liability Co. Guardian Life Insurance Com Of America has 3,951 shares for 0.03% of their portfolio. Tctc Holdg Ltd Liability Corp stated it has 0.4% in Abbott Laboratories (NYSE:ABT). Mufg Americas Corp owns 337,892 shares. Smith Chas P & Associates Pa Cpas holds 21,733 shares or 0.17% of its portfolio. Independence Tru stated it has 2.6% in Abbott Laboratories (NYSE:ABT). Invesco accumulated 2.65M shares or 0.05% of the stock. Lingohr & Partner Asset Gmbh reported 7,400 shares. Greatmark Invest Ptnrs has 5,942 shares for 0.12% of their portfolio.

Since September 22, 2017, it had 0 insider buys, and 7 insider sales for $31.71 million activity. On Tuesday, January 30 the insider Fussell Stephen R sold $14.27M. Ford Robert B also sold $2.69 million worth of Abbott Laboratories (NYSE:ABT) on Tuesday, January 30. Blaser Brian J sold 27,733 shares worth $1.73M. On Friday, September 22 Contreras Jaime sold $2.74M worth of Abbott Laboratories (NYSE:ABT) or 52,700 shares.

The stock of Abbott Laboratories (NYSE:ABT) registered an increase of 36.59% in short interest. ABT’s total short interest was 13.23 million shares in February as published by FINRA. Its up 36.59% from 9.69 million shares, reported previously. With 8.36 million shares average volume, it will take short sellers 2 days to cover their ABT’s short positions. The short interest to Abbott Laboratories’s float is 0.77%.

The stock decreased 1.75% or $1.05 during the last trading session, reaching $59.12. About 8.18 million shares traded or 15.95% up from the average. Abbott Laboratories (NYSE:ABT) has risen 15.90% since February 21, 2017 and is uptrending. It has underperformed by 0.80% the S&P500.

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 219.78 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.

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. $63.81’s average target is 7.93% above currents $59.12 stock price. Abbott Laboratories had 105 analyst reports since July 24, 2015 according to SRatingsIntel. Barclays Capital upgraded it to “Overweight” rating and $52 target in Wednesday, October 7 report. The firm has “Hold” rating by BMO Capital Markets given on Monday, July 10. The rating was maintained by RBC Capital Markets on Thursday, January 26 with “Outperform”. The stock of Abbott Laboratories (NYSE:ABT) earned “Buy” rating by BMO Capital Markets on Wednesday, January 24. Stifel Nicolaus maintained Abbott Laboratories (NYSE:ABT) on Friday, September 22 with “Buy” rating. The firm earned “Equal-Weight” rating on Thursday, October 19 by Morgan Stanley. The stock has “Outperform” rating by RBC Capital Markets on Thursday, July 23. Jefferies maintained the stock with “Buy” rating in Tuesday, September 13 report. On Friday, January 29 the stock rating was downgraded by William Blair to “Market Perform”. The firm earned “Buy” rating on Saturday, August 29 by BTIG Research.

More important recent Abbott Laboratories (NYSE:ABT) news were published by: Cnbc.com which released: “Abbott’s fourth-quarter results, 2018 profit forecast beat estimates” on January 24, 2018, also Reuters.com published article titled: “Abbott Laboratories expected to post earnings of 73 cents a share – summary”, Pionline.com published: “Abbott Laboratories to make $114 million pension contribution this year” on February 20, 2018. More interesting news about Abbott Laboratories (NYSE:ABT) was released by: Startribune.com and their article: “St. Jude Medical delivers sales growth for Abbott Labs” with publication date: January 25, 2018.

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