Monthly Stock Report: Abbott Laboratories (ABT)
Publication Date: September 22, 2024
Company Overview
Abbott Laboratories (ABT), headquartered in North Chicago, Illinois, has been a cornerstone of the global healthcare sector since its establishment in 1888. This diversified healthcare company is engaged in the discovery, development, manufacturing, and sale of a wide array of healthcare products, segmented into four primary categories: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The medical devices segment, in particular, has shown significant growth potential, bolstered by Abbott’s commitment to enhancing patient care through innovative technologies. With total revenue of $40.73 billion, Abbott is well-positioned to capitalize on the ongoing advancements and demand in healthcare, making it a compelling investment opportunity.
Stock Performance and Outlook
As of the most recent data, Abbott Laboratories’ stock is priced at $113.70, with bullish analysts projecting a target high of $143.00, indicating encouraging upside potential for investors. The company’s solid financial foundation is evidenced by its substantial total revenue, along with a commendable number of outstanding shares totaling approximately 1.74 billion. A low short interest of just 0.0074 percent suggests that investors remain confident in Abbott’s market stability.
Analysts have expressed a strong consensus, with a recommendation key of “buy” and a mean score of 2.0 based on insights from 22 industry analysts. The stock price remains above its 50-day moving average of $110.32 and has recently fluctuated between a 52-week high of $121.64 and a low of $89.67, reflecting a healthy volatility range. Given these indicators, Abbott Laboratories stands out as an attractive option for stakeholders aiming to leverage growth in the healthcare sector.
Key Takeaways
- Current Stock Price: $113.70
- Total Revenue: $40.73 billion
- Shares Outstanding: 1,739,900,032 with a low short interest of 0.0074%
- Analyst Target High Price: $143.00
- Recommended Action: Buy
Investing in Abbott Laboratories presents a promising opportunity, especially as the medical devices market continues to expand, bringing innovative solutions to improve patient outcomes.
| Metric | Value |
|---|---|
| Market Cap | $197.8b |
| Total Debt | $14.8b |
| Total Cash | $7.2b |
| Shares Outstanding | 1.7b |
| Float Shares | 1.7b |
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