Abbott Laboratories (ABT) : Tuesdays money flow data in Abbott Laboratories (ABT) suggests that the bulls made the most of the weakness in the stock. The inflow of money into the stock on upticks was $101.86 million, whereas, $67.6 million worth of transactions were done on downticks. The ratio between the two, uptick and downtick stood at 1.51, in favor of the bulls. The total money flow into the stock was $34.26 million clearly indicating that the smart money has been buying into the stock on weakness.
In comparison, the money flow in block deals was $35.99 million. The total value of block trades done on upticks was $48.2 million. The value of bearish trades on downticks was only $12.21 million.The up/down ratio in the block trades was a healthy 3.95 in favor of the bulls, suggesting strong buying in the stock by large traders. Abbott Laboratories (ABT) fell $0.42 and traded at $42.83, down -0.97% for the day, over previous days close. On a weekly basis, the shares are -0.35% over the previous weeks close.
Also, Major Brokerage house, Jefferies maintains its ratings on Abbott Laboratories (NYSE:ABT). In the latest research report, Jefferies raises the target price from $49 per share to $52 per share. According to the latest information available, the shares are now rated Buy by the analysts at the agency. The rating by the firm was issued on August 4, 2016.
Abbott Laboratories has lost 2.44% in the last five trading days and dropped 5.43% in the last 4 weeks. Abbott Laboratories is up 9.1% in the last 3-month period. Year-to-Date the stock performance stands at -2.85%.
Abbott Laboratories (NYSE:ABT): The stock opened at $43.01 on Tuesday but the bulls could not build on the opening and the stock topped out at $43.36 for the day. The stock traded down to $42.56 during the day, due to lack of any buying support eventually closed down at $42.83 with a loss of -0.97% for the day. The stock had closed at $43.25 on the previous day. The total traded volume was 12,176,249 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Executive Vice President) of Abbott Laboratories, Fussell Stephen R had sold 41,500 shares worth of $1,867,915 in a transaction dated July 28, 2016. In this transaction, 41,500 shares were sold at $45.01 per share.
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.