Abbott (NYSE:ABT) Stock price trend forecast and trading range:
Updated to: 2023.1.6
(Note: The upper red line in the picture is the resistance, and the lower red line is the support)
Analysis from stock chart
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Short-term trend: up
Sell high and buy low of range : above 20-day moving average
Support: 20-day moving average resistance: $112 Stop Loss Price: 20-day moving average price target: $112 Buy the position again: stop fall and rise to 20-day moving average
Medium-term trend: rebound
High sell low buy range: above 20-day moving average
Support: 20-day moving average resistance: $117 Stop Loss price: 20-day moving average price target: $117 Buy the position again: stop fall and rise to 20-day moving average
Long-term trend: rebound
High sell low buy of range: above 30-day moving average
Support : 30-day moving average resistance: $123 Stop Loss price: 20-day moving average price target : $123 Buy the position again: stop fall and rise to 30-day moving average
From Analysis from financial statements:
In fiscal 2022, Q3 achieved revenue of $10.41 billion, YoY-4.74%, net profit of $1.435 billion, YoY-31.67%, and EPS of $0.81. Quarterly dividend of $0.47 per share. The sales growth rate has turned negative in Q3, the net profit has fallen significantly, and there is a large downside in the valuation space. Industry valuations do not adequately reflect the impact of the recession and falling net profits. It is recommended to only use stock chart as a trading strategy, and adhere to right-hand trading.Full year estimates P/E TTM 21 times.
Historical Forecast Record:
2022.11.04 From the technical chart, the stock price is in a medium and long-term downtrend, and the short-term trend has rebounded slightly, but the probability of hitting a new low again is high, and it is not recommended to participate in trading.
2021.10.21 From the technical chart, the stock price is in an uptrend, it is recommended to hold long positions above the 20-day moving average for short-term trading, and long positions above the 60-day moving average for medium and long-term trading, which is highly likely to strengthen further and may challenge record highs. In the order of exits, short-term trading stock prices fell below the 20-day moving average and turned short, and medium and long-term trading fell below the 60-day moving average to turn short. From a fundamental point of view, the company’s performance continues to grow and is held for a long time.
Key Quote Data:
52 Week Range: 93.25-133.72
P/E Ratio(TTM): 25.36
EPS(TTM): $4.43
Market Cap: $195.86 B
Beta: 0.67
Number of employees: 113000 historical data 109000
Summary of recent financial statements
2022.10.18 Q3 2022 achieved revenue of US$10.41 billion, YoY-4.74%, net profit of US$1.435 billion, YoY-31.67%, and EPS of US$0.81. Quarterly dividend of $0.47 per share. Non-GAAP earnings per share were $1.15, down form $1.4 a year earlier and above analysts’ estimates of $0.94; revenue was $10.4 billion, YoY-4.8%, above analysts’ estimates of $9.65 billion; and net income was $1.435 billion, YoY-31.7%. Full-year adjusted earnings per share are expected to be $5.17 to $5.23, compared to a previous estimate of $4.9.
Abbott is raising its full-year 2022 EPS guidance. Abbott projects full-year diluted EPS on a GAAP basis of $3.75 to $3.81 and projects adjusted diluted EPS of $5.17 to $5.23.
In September, Abbott presented new data showing its FreeStyle Libre® continuous glucose monitoring system helped reduce acute diabetes-related events, leading to a 67 percent decrease in hospitalizations in people with Type 2 diabetes on once-daily (basal) insulin therapy.
During the quarter, Abbott launched its latest-generation FreeStyle Libre 3 system in the U.S., which automatically delivers up-to-the-minute glucose readings and unsurpassed 14-day accuracy3 in the world’s smallest and thinnest3 wearable sensor.
During the quarter, following a manufacturing stoppage earlier this year, Abbott restarted production of Similac® as well as EleCare® and metabolic infant formulas at its Sturgis, Michigan, facility.
Market estimate:
Q3 adjusted earnings of $1.15 per diluted share, down from $1.40 a year earlier. Analysts polled by Capital IQ expected $0.94.
Net sales for the quarter ended Sept. 30 were $10.41 billion, down from $10.93 billion a year earlier. Analysts surveyed by Capital IQ expected $9.65 billion.
For the full year of 2022, the company raised its outlook for adjusted earnings to a range of $5.17 to $5.23 per diluted share from the previously expected outlook of $4.90. Analysts at Capital IQ expect $5.05.
Abbott Laboratories and Subsidiaries Condensed Consolidated Statement of Earnings (in millions, except per share data)
About Abbott Laboratories (NYSE:ABT)
Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 113,000 colleagues serve people in more than 160 countries.