Abbott Laboratories (ABT) has risen sharply, recording gains of 2.48% in the past 4 weeks. However, the stock has corrected -1.78% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 2.09% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Abbott Laboratories is up 18.38% in the last 3-month period. Year-to-Date the stock performance stands at 0.35%. The stock has recorded a 20-day Moving Average of 0.87% and the 50-Day Moving Average is 6.35%.
Abbott Laboratories (NYSE:ABT): The stock opened at $44.17 on Friday but the bulls could not build on the opening and the stock topped out at $44.31 for the day. The stock traded down to $43.65 during the day, due to lack of any buying support eventually closed down at $44.24 with a loss of -0.27% for the day. The stock had closed at $44.36 on the previous day. The total traded volume was 9,439,877 shares.
Also, Equity analysts at the Brokerage firm Jefferies maintains its rating on Abbott Laboratories (NYSE:ABT). The rating major has initiated the coverage with buy rating on the shares. The Analysts at Jefferies raises the price target from $49 per share to $52 per share. The rating by the firm was issued on August 4, 2016.
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.