Abbott (ABT, $86.32) beats Q2 earnings estimates; raises full year outlook
Abbott Laboratories reported second-quarter earnings that beat Wall Street expectations. The company also raised its full-year guidance.
The healthcare company’s adjusted earnings for the quarter came in at was 82 cents, topping the FactSet consensus estimate of 80 cents.
Quarterly revenue increased +2.7% year-over-year to $7.979 billion, but fell slightly short of the $7.997 billion that analysts polled by FactSet had expected.
Abbott’s sales from its nutrition unit rose +0.9% to $1.875 billion. Its medical devices unit’s revenue climbed +6.4% to $3.075 billion. FreeStlye Libre sales, in particular, surged 72.9% on a reported basis to $433 million over the quarter.
Looking ahead, Abbott now expects its full-year earnings per share to a range of $3.21 to $3.27, up from prior forecast of a range of $3.15 to $3.25. It expects organic sales growth of between 7% and 8% for the year.
ABT's RSI Indicator climbs out of oversold territory
The RSI Indicator for ABT moved out of oversold territory on December 19, 2024. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 27 similar instances when the indicator left oversold territory. In of the 27 cases the stock moved higher. This puts the odds of a move higher at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 54 cases where ABT's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that 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 308 cases, the price rose further within the following month. The odds of a continued upward trend are .
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on December 03, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on ABT as a result. In of 89 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for ABT turned negative on December 03, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 48 similar instances when the indicator turned negative. In of the 48 cases the stock turned lower in the days that followed. This puts the odds of success at .
ABT moved below its 50-day moving average on December 05, 2024 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for ABT crossed bearishly below the 50-day moving average on December 12, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 13 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
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 .
The Aroon Indicator for ABT entered a downward trend on December 12, 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.
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 (23.300). P/E Ratio (34.383) is within average values for comparable stocks, (83.485). 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 (43.338).
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 88, 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 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 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