Abhoy Sarkar's Avatar
published in Blogs
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

ABT sees MACD Histogram just turned negative

ABT saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on May 08, 2023. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 53 instances where the indicator turned negative. In of the 53 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on May 15, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on ABT as a result. In of 90 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

ABT moved below its 50-day moving average on May 24, 2023 date and that indicates a change from an upward trend to a 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 .

Bullish Trend Analysis

The RSI Indicator demonstrates that the ticker has stayed in the oversold zone for 2 days, which means it's wise to expect a price bounce in the near future.

The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 9 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.

The 50-day moving average for ABT moved above the 200-day moving average on May 18, 2023. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where ABT advanced for three days, in of 341 cases, the price rose further within the following month. The odds of a continued upward trend are .

ABT may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

The Aroon Indicator entered an Uptrend today. In of 307 cases where ABT Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

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 (4.833) is normal, around the industry mean (25.176). P/E Ratio (31.250) is within average values for comparable stocks, (143.263). Projected Growth (PEG Ratio) (10.627) is also within normal values, averaging (5.622). Dividend Yield (0.019) settles around the average of (0.019) among similar stocks. P/S Ratio (4.357) is also within normal values, averaging (51.761).

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 85, placing this stock better than average.

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 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 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.

Notable companies

The most notable companies in this group are Abbott Laboratories (NYSE:ABT), Medtronic plc (NYSE:MDT), Intuitive Surgical (NASDAQ:ISRG), Boston Scientific Corp (NYSE:BSX), Edwards Lifesciences Corp (NYSE:EW), IQVIA Holdings (NYSE:IQV), Illumina (NASDAQ:ILMN), Align Technology (NASDAQ:ALGN), 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 6.32B. 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 0%, and the average quarterly price growth was 220%. MBOT experienced the highest price growth at 72%, while BIOC experienced the biggest fall at -68%.

Volume

The average weekly volume growth across all stocks in the Medical Specialties Industry was -10%. For the same stocks of the Industry, the average monthly volume growth was -13% and the average quarterly volume growth was -94%

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: 69
Price Growth Rating: 62
SMR Rating: 83
Profit Risk Rating: 85
Seasonality Score: 15 (-100 ... +100)
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