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Jul 17, 2019

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.

 

Related Ticker: ABT

Momentum Indicator for ABT turns positive, indicating new upward trend

ABT saw its Momentum Indicator move above the 0 level on February 16, 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 94 similar instances where the indicator turned positive. In of the 94 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 Moving Average Convergence Divergence (MACD) for ABT just turned positive on February 20, 2024. Looking at past instances where ABT's MACD turned positive, the stock continued to rise in of 52 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 328 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 310 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 RSI Indicator has been in the overbought zone for 2 days. Expect a price pull-back in the near future.

The Stochastic Oscillator 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.

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 February 20, 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.

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding 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 Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 86, placing this stock better than average.

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 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.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued 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 (5.371) is normal, around the industry mean (25.812). P/E Ratio (36.644) is within average values for comparable stocks, (79.750). ABT's Projected Growth (PEG Ratio) (28.855) is slightly higher than the industry average of (6.626). Dividend Yield (0.017) settles around the average of (0.019) among similar stocks. P/S Ratio (5.208) is also within normal values, averaging (41.848).

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 7.11B. 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 2%. For the same Industry, the average monthly price growth was 2%, and the average quarterly price growth was 4%. IMTH experienced the highest price growth at 1,075%, while BSGM experienced the biggest fall at -49%.

Volume

The average weekly volume growth across all stocks in the Medical Specialties Industry was -56%. For the same stocks of the Industry, the average monthly volume growth was -40% and the average quarterly volume growth was -30%

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: 70
Price Growth Rating: 50
SMR Rating: 84
Profit Risk Rating: 85
Seasonality Score: -35 (-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
published General Information

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
115000
Web
https://www.abbottinvestor.com
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ABT and

Correlation & Price change

A.I.dvisor indicates that over the last year, ABT has been closely correlated with IDXX. These tickers have moved in lockstep 66% of the time. This A.I.-generated data suggests there is a high statistical probability that if ABT jumps, then IDXX could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To ABT
1D Price
Change %
ABT100%
+0.37%
IDXX - ABT
66%
Closely correlated
+0.91%
MDT - ABT
61%
Loosely correlated
+0.68%
RVTY - ABT
60%
Loosely correlated
+0.10%
BAX - ABT
55%
Loosely correlated
+1.26%
ISRG - ABT
53%
Loosely correlated
+0.17%
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