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published in Blogs
Aug 21, 2019

Abbott Labs bounces off of the lower rail of an upwardly sloped channel

Abbott Laboratories (NYSE: ABT) is classified as a diversified medical company because the company develops generic pharmaceuticals and nutritional supplements, but it also develops diagnostic systems. The diversification might not seem like a big deal, but it could help the company in the long run. The current political environment has brought attention to the costs of prescription drugs in the United States and with Abbott developing generic drugs and also having the cushion of developing nutritional supplements and diagnostic systems as well, it could actually benefit from additional regulation in the industry.

Regardless of what happens going forward, the company has performed very well in recent years and so has the stock. The company has seen earnings grow by a rate of 13% per year over the last three years while sales have grown by a rate of 18%. Earnings increased by 12% in the most recent quarterly report while sales were up 3%. Analysts expect earnings to increase by 13% for 2019 while sales are expected to increase by 4.4%.

The management efficiency measurements are slightly above average with a return on equity of 16.7% and a profit margin of 19.5%.

The Tickeron Valuation Rating system shows a current reading of 3 for Abbott and that indicates that the company is seriously undervalued in the industry. A rating of 1 points to the most undervalued stocks, while a rating of 100 points to the most overvalued stocks. The stock’s price-to-book ratio, P/E ratio, and PEF Ratio are all below the industry averages.

The Tickeron Price Growth Rating for this company is 8, indicating outstanding price growth and meaning that Abbott’s price has grown at a higher rate over the last 12 months as compared to S&P 500 index constituents. A rating of 1 points to highest price growth (largest percent return), while a rating of 100 points to lowest price growth (smallest percent return).

Also from Tickeron we see a Profit vs. Risk rating for Abbott of 9, indicating low risk on high returns. The average Profit vs. Risk rating for the industry is 75, placing this stock better than average.

Looking at the daily chart for Abbott we see that the stock has been trending higher over the last four months and a trend channel has formed that defines the different cycles within the overall trend.


We see that the upper rail connects the highs from April, June, and July while the parallel lower rail connects the lows from May and August. The stock just hit the lower rail in the last week and has since turned higher. It is worth noting that the stock moved back above its 50-day moving average in the last few days.

The daily stochastic readings show low readings, but not quite low enough to get to oversold territory. It is interesting that the indicators did a little double dip in the last few weeks.

The stock briefly broke below its lower Bollinger Band earlier this month and according to the Tickeron Technical Analysis Overview, when that has happened in the past, the stock moved higher 63% of the time over the next month.

One area of concern for Abbott is the sentiment toward the company. Analysts are pretty bullish on the company with 18 out of 21 ratings falling in the “buy” or “overweight” category. There are also two “hold” ratings and one “underweight” rating.

The short interest ratio is a little higher than average at 3.3. The total number of shares sold short did jump significantly in July with total short interest jumping from 14.15 million to 16.99 million from the end of June through the end of July. This indicates growing bearish sentiment.

Related Ticker: ABT

ABT in upward trend: price may ascend as a result of having broken its lower Bollinger Band on March 15, 2024

ABT may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. In of 37 cases where ABT's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued upward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where ABT's RSI Oscillator exited the oversold zone, of 21 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 53 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 326 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 312 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 Momentum Indicator moved below the 0 level on March 15, 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 .

The Moving Average Convergence Divergence Histogram (MACD) for ABT turned negative on March 13, 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 51 similar instances when the indicator turned negative. In of the 51 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 March 18, 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 March 25, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 14 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 .

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 (25.596). P/E Ratio (34.383) is within average values for comparable stocks, (79.752). Projected Growth (PEG Ratio) (6.149) is also within normal values, averaging (5.753). Dividend Yield (0.019) settles around the average of (0.019) among similar stocks. P/S Ratio (4.888) is also within normal values, averaging (43.236).

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 well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 86, placing this stock slightly better than average.

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 7.24B. 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 -2%, and the average quarterly price growth was 6%. NXL experienced the highest price growth at 280%, while SEQL experienced the biggest fall at -56%.

Volume

The average weekly volume growth across all stocks in the Medical Specialties Industry was -24%. For the same stocks of the Industry, the average monthly volume growth was -25% and the average quarterly volume growth was -10%

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: 55
SMR Rating: 84
Profit Risk Rating: 85
Seasonality Score: -7 (-100 ... +100)
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ABTDaily Signal changed days agoGain/Loss if shorted
 
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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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