Shares of Abbott Laboratories (ABT) Sees Large Outflow of Money

Abbott Laboratories (ABT) : The value of composite uptick trades was $87.68 million, whereas, the value of composite downtick trades was $95.96 million. The uptick to downtick ratio stood at 0.91 with a negative money flow of ($8.28) Million during Wednesdays trading session. The block trades money flow was negative ($7.36 million).The uptick to the downtick ratio of 0.67 in block trades signals that the large investors have utilized the rise in the stock to sell.The uptick transaction value stood at $14.65 million. The transaction of the trades on downticks amounted to $22.01 million, which confirms investors selling on the strength of price. Abbott Laboratories (ABT) gained 97 cents at $42.77, an increase of 2.32% over the previous days close.


Also, In a research note released to the investors, Jefferies maintains its rating on Abbott Laboratories (NYSE:ABT).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, Jefferies raises the new price target from $45 per share to $49 per share. The rating by the firm was issued on July 14, 2016.

Abbott Laboratories (NYSE:ABT): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $42.80 and $42.10 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $42.92. The buying momentum continued till the end and the stock did not give up its gains. It closed at $42.65, notching a gain of 2.03% for the day. The total traded volume was 13,686,493 . The stock had closed at $41.80 on the previous day.

The stock has recorded a 20-day Moving Average of 6.54% and the 50-Day Moving Average is 9.82%. In a related news, The Securities and Exchange Commission has divulged that Allen Hubert L, Officer (Executive Vice President) of ABBOTT LABORATORIES, had unloaded 3,400 shares at an average price of $37.14 in a transaction dated on June 28, 2016. The total value of the transaction was worth $126,276.

Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a range of health care products. Abbott operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products. The Diagnostic Products segment includes the sales of a line of adult and pediatric nutritional products. The Nutritional Products includes the sales of diagnostic systems and tests for blood banks, hospitals, commercial laboratories and alternate-care testing sites. The Vascular Products includes the sales of coronary, endovascular, structural heart, vessel closure and other medical device products.

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