Abbott (ABT, $111.90) unveils $5, 15-minute coronavirus test
Abbott Laboratories unveiled a $5, 15-minute coronavirus test that was given an emergency approval from the U.S. government.
The healthcare and medical device company’s portable antigen test, is to be called BinaxNOW. Earlier this week, the the Food & Drug Administration gave an emergency nod to it.
Abbott hopes to have the capacity for 50 million tests per month by early October.
The company also launched a free-to-use iPhone app, NAVICA, that would allow users who test negative for the COVID-19 virus to show the information to others.
"We intentionally designed the BinaxNOW test and NAVICA app so we could offer a comprehensive testing solution to help Americans feel more confident about their health and lives," said CEO Robert Ford.
According to Tickeron, ABT enters an Uptrend as Momentum Indicator exceeded the 0 level on August 21, 2020
This indicator signals that ABT's price has momentum to move higher, since its current price moved above its price 14 days ago. Traders may consider buying the ticker or exploring call options. In 49 of 79 cases where ABT's Momentum Indicator exceeded 0, its price rose further within the subsequent month. The odds of a continued Uptrend are 62%.
Current price $111.86 is above $101.75 the highest resistance line found by A.I. Throughout the month of 07/27/20 - 08/26/20, the price experienced a +3% Uptrend. During the week of 08/19/20 - 08/26/20, the stock enjoyed a +3% Uptrend growth.
Technical Analysis (Indicators)
Bullish Trend Analysis
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where ABT advanced for three days, in 207 of 349 cases, the price rose further within the following month. The odds of a continued Uptrend are 59%.
The Aroon Indicator entered an Uptrend today. In 156 of 337 similar cases where ABT Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 46%.
Bearish Trend Analysis
The RSI Indicator appears to be shifting from an Uptrend to a Downtrend. In 21 of 42 cases where ABT's RSI indicator exited the overbought zone, the price fell further within the following month. The odds of a continued Downtrend are 50%.
The Stochastic Indicator demonstrated that the ticker has stayed in the overbought zone for 3 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
The Moving Average Convergence Divergence (MACD) crossed below the signal line. In 18 of 49 cases where ABT's MACD histogram became negative, the price fell further within the following month. The odds of a continued Downtrend are 37%.
Fundamental Analysis (Ratings)
Tickeron has a positive outlook on this ticker and predicts a further increase by more than 4.00% within the next month with a likelihood of 73%. During the last month, the daily ratio of advancing to declining volumes was 1.6 to 1.
The Tickeron Valuation Rating of 6 (best 1 - 100 worst) indicates that the company is seriously undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (5.97) is normal, around the industry mean (-2.16). P/E Ratio (59.47) is within average values for comparable stocks, (140.72). Projected Growth (PEG Ratio) (7.91) is also within normal values, averaging (7.24). ABT's Dividend Yield (1.52) is considerably higher than the industry average of (0.11). P/S Ratio (5.19) is also within normal values, averaging (98.62).
The Tickeron Profit vs. Risk Rating rating for this company is 12 (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 76, placing this stock better than average.
The Tickeron Price Growth Rating for this company is 21 (best 1 - 100 worst), indicating outstanding price growth. ABT’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is 50 (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is 51 (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
ABT sees its 50-day moving average cross bullishly above its 200-day moving average
The 50-day moving average for ABT moved above the 200-day moving average on September 12, 2024. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on October 08, 2024. You may want to consider a long position or call options on ABT as a result. In of 91 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for ABT just turned positive on October 10, 2024. Looking at past instances where ABT's MACD turned positive, the stock continued to rise in of 49 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where ABT advanced for three days, in of 319 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 283 cases where ABT Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The 10-day RSI Indicator for ABT moved out of overbought territory on September 18, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 40 similar instances where the indicator moved out of overbought territory. In of the 40 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 5 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where ABT declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
ABT broke above its upper Bollinger Band on October 14, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is seriously undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (5.038) is normal, around the industry mean (22.725). P/E Ratio (34.383) is within average values for comparable stocks, (83.568). Projected Growth (PEG Ratio) (6.149) is also within normal values, averaging (5.667). Dividend Yield (0.019) settles around the average of (0.018) among similar stocks. P/S Ratio (4.888) is also within normal values, averaging (42.680).
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding price growth. ABT’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 87, placing this stock slightly better than average.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
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a manufacturer of health care products
Industry MedicalSpecialties