Abbott Laboratories said that it’s expecting to send out 4 million of its new coronavirus antibody test kits this month.
The test is designed to reveal whether a person had been infected with covid-19 and whether he or she is now asymptomatic or recovered.
“It’s clear that the demand for testing is big; it’s not going to go away.” Abbott Chief Executive Robert Ford said during an earnings conference call Thursday. (CNBC reports. ). Ford also mentioned in the call that the company plans to increase its shipments to 20 million a month starting June.
While Abbott has already introduced three coronavirus tests in the U.S., Ford indicated that a fourth one is underway.
The RSI Indicator for ABT moved out of oversold territory on April 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 23 similar instances when the indicator left oversold territory. In of the 23 cases the stock moved higher. This puts the odds of a move higher at .
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 51 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 .
The Moving Average Convergence Divergence (MACD) for ABT just turned positive on April 26, 2024. Looking at past instances where ABT's MACD turned positive, the stock continued to rise in of 50 cases over 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 Momentum Indicator moved below the 0 level on May 03, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on ABT as a result. In of 94 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent 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 April 26, 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 (22.483). P/E Ratio (34.383) is within average values for comparable stocks, (82.064). 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 (51.692).
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 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.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a manufacturer of health care products
Industry MedicalSpecialties