Stocks of Abbott Laboratories (NYSE:ABT) traded higher last session on Wall Street, down -0.74% to $104.09.
ABT stock price is now -5.46% away from the 50-day moving average and -2.09% away from the 200-day moving average. The market capitalization of the company currently stands at $181.08B.
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On May 30, 2023, Morgan Stanley Downgraded its previous ‘Overweight’ rating to ‘Equal-Weight’ on the stock keeping its target price maintained at $112, while ‘Wolfe Research’ rates the stock as ‘Underperform’
In other news, Funck, Jr. Robert E., EXECUTIVE VICE PRESIDENT sold 10,097 shares of the company’s stock on May 10 ’24. The stock was sold for $1,055,819 at an average price of $104.57. Upon completion of the transaction, the EXECUTIVE VICE PRESIDENT now directly owns 211,341 shares in the company, valued at $22.0 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 07 ’24, EXECUTIVE VICE PRESIDENT Earnhardt Lisa D sold 22,852 shares of the business’s stock. A total of $2,428,119 was realized by selling the stock at an average price of $106.25. This leaves the insider owning 61,462 shares of the company worth $6.4 million. A total of 0.73% of the company’s stock is owned by insiders.
During the past 12 months, Abbott Laboratories has had a low of $89.67 and a high of $121.64. As of last week, the company has a debt-to-equity ratio of 0.38, a current ratio of 1.60, and a quick ratio of 1.11.
According to the Medical Devices Company, earnings per share came in at 1.08, beating analysts’ expectations of 1.05 by 0.03. This compares to $0.75 EPS in the same period last year. The net profit margin was 13.91% and return on equity was 14.80% for ABT. The company reported revenue of $9.96 billion for the quarter, compared to $9.75 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 2.23 percent. For the current quarter, analysts expect ABT to generate $10.37B in revenue.
