Abbott Laboratories (NYSE:ABT) has tumbled 2.63% during the past week and has dropped 0.56% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 1.46%. Abbott Laboratories (NYSE:ABT) has underperformed the index by 1.47% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Abbott Laboratories (NYSE:ABT): The stock opened at $37.40 on Friday but the bulls could not build on the opening and the stock topped out at $37.59 for the day. The stock traded down to $37.23 during the day, due to lack of any buying support eventually closed down at $37.39 with a loss of -0.29% for the day. The stock had closed at $37.50 on the previous day. The total traded volume was 9,899,994 shares.
The company shares have dropped -25.06% from its 1 Year high price. On Jul 23, 2015, the shares registered one year high at $51.74 and the one year low was seen on Jan 28, 2016. The 50-Day Moving Average price is $38.38 and the 200 Day Moving Average price is recorded at $40.69.
On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Senior Vice President) of Abbott Laboratories, Watkin Jared had sold 552 shares worth of $20,772 in a transaction dated June 15, 2016. In this transaction, 552 shares were sold at $37.63 per share.
Many analysts have stated their opinion on the company shares. 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 $44 per share to $45 per share. The rating by the firm was issued on June 14, 2016. Currently the company Insiders own 0.26% of Abbott Laboratories shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -0.63% . Institutional Investors own 70.01% of Abbott Laboratories shares. During last six month period, the net percent change held by insiders has seen a change of -1.31%.
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.