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Aug 27, 2020

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.

Related Ticker: ABT

Momentum Indicator for ABT turns positive, indicating new upward trend

ABT saw its Momentum Indicator move above the 0 level on June 07, 2024. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 92 similar instances where the indicator turned positive. In of the 92 cases, the stock moved higher in the following days. The odds of a move higher are at .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where ABT's RSI Indicator exited the oversold zone, of 23 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for ABT just turned positive on June 03, 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 316 cases, the price rose further within the following month. The odds of a continued upward trend are .

Bearish Trend Analysis

The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 62 cases where ABT's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .

ABT moved below its 50-day moving average on June 11, 2024 date and that indicates a change from an upward trend to a downward trend.

The 50-day moving average for ABT moved below the 200-day moving average on June 14, 2024. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.

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 June 07, 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 Aroon Indicator for ABT entered a downward trend on June 06, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Fundamental Analysis (Ratings)

Fear & Greed

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 (22.665). P/E Ratio (34.383) is within average values for comparable stocks, (82.398). Projected Growth (PEG Ratio) (6.149) is also within normal values, averaging (5.589). 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 (51.536).

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 Price Growth Rating for this company is (best 1 - 100 worst), indicating steady 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 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.

Notable companies

The most notable companies in this group are Abbott Laboratories (NYSE:ABT), Intuitive Surgical (NASDAQ:ISRG), Medtronic plc (NYSE:MDT), Boston Scientific Corp (NYSE:BSX), Edwards Lifesciences Corp (NYSE:EW), IQVIA Holdings (NYSE:IQV), Align Technology (NASDAQ:ALGN), Illumina (NASDAQ:ILMN), Exact Sciences Corp (NASDAQ:EXAS), Guardant Health (NASDAQ:GH).

Industry description

Medical specialties are companies that make equipment used by the health care industry. Equipment manufactured and distributed by these companies include dialysis machines, blood analysis equipment, surgical equipment, dental instruments, and diagnostic tools, among other items. Large companies typically aim to produce and distribute high-quality products across a broad market spectrum. Smaller firms are more likely to specialize in a particular market segment. Due to the industry’s close association with medical treatments, they typically have low sensitivity to macroeconomic fluctuations. Within this industry, Abbott Laboratories, Medtronic Plc and Thermo Fisher Scientific Inc. are some of the companies with multi-billion market capitalizations in the U.S. stock markets.

Market Cap

The average market capitalization across the Medical Specialties Industry is 7.55B. The market cap for tickers in the group ranges from 27 to 3.82T. MKYSF holds the highest valuation in this group at 3.82T. The lowest valued company is FOGCF at 27.

High and low price notable news

The average weekly price growth across all stocks in the Medical Specialties Industry was 1%. For the same Industry, the average monthly price growth was -1%, and the average quarterly price growth was 19%. ODYY experienced the highest price growth at 63%, while BSGM experienced the biggest fall at -76%.

Volume

The average weekly volume growth across all stocks in the Medical Specialties Industry was -25%. For the same stocks of the Industry, the average monthly volume growth was -80% and the average quarterly volume growth was -33%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 50
P/E Growth Rating: 72
Price Growth Rating: 62
SMR Rating: 85
Profit Risk Rating: 86
Seasonality Score: 17 (-100 ... +100)
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ABTDaily Signal changed days agoGain/Loss if shorted
 
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A.I.Advisor
published price charts
A.I. Advisor
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General Information

a manufacturer of health care products

Industry MedicalSpecialties

Profile
Fundamentals
Details
Industry
Medical Specialties
Address
100 Abbott Park Road
Phone
+1 224 667-6100
Employees
114000
Web
https://www.abbottinvestor.com
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