Follow The Short Interest: Abbott Labs (NYSE:ABT) Stock Is Shorted More

November 23, 2016 - By Ruchi Gupta   ·   0 Comments

Follow The Short Interest: Abbott Labs (NYSE:ABT) Stock Is Shorted More

The stock of Abbott Labs (NYSE:ABT) registered an increase of 2.12% in short interest. ABT’s total short interest was 75.81M shares in November as published by FINRA. Its up 2.12% from 74.23 million shares, reported previously. With 9.12M shares average volume, it will take short sellers 8 days to cover their ABT’s short positions. The short interest to Abbott Labs’s float is 5.18%. About 435 shares traded hands. Abbott Laboratories (NYSE:ABT) has declined 13.17% since April 21, 2016 and is downtrending. It has underperformed by 18.50% the S&P500.

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The company has a market cap of $55.98 billion. The Firm operates in four business divisions: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. It has a 57.3 P/E ratio. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.

Insitutional Activity: The institutional sentiment decreased to 0.96 in Q2 2016. Its down 0.09, from 1.05 in 2016Q1. The ratio turned negative, as 68 funds sold all Abbott Laboratories shares owned while 488 reduced positions. 79 funds bought stakes while 507 increased positions. They now own 1.05 billion shares or 2.91% more from 1.02 billion shares in 2016Q1.
Lau Assocs Ltd Limited Liability Company has 6,273 shares for 0.26% of their US portfolio. California State Teachers Retirement holds 0.27% of its portfolio in Abbott Laboratories (NYSE:ABT) for 3.16M shares. Advisory Services Network Ltd Liability Company owns 4,957 shares or 0.04% of their US portfolio. Autus Asset Management Ltd Liability holds 1.15% or 128,301 shares in its portfolio. The New York-based Chemung Canal Tru Co has invested 0.31% in Abbott Laboratories (NYSE:ABT). Jane Street accumulated 0% or 20,277 shares. Fulton Bancorp Na, a Pennsylvania-based fund reported 26,466 shares. Moreover, Bessemer Gp has 0.01% invested in Abbott Laboratories (NYSE:ABT) for 57,083 shares. Ogorek Anthony Joseph New York Adv last reported 1,161 shares in the company. Godshalk Welsh Inc owns 5,050 shares or 0.22% of their US portfolio. Rockland Trust has 0.45% invested in the company for 60,320 shares. Stock Yards National Bank Communications, a Kentucky-based fund reported 83,859 shares. Panagora Asset Mgmt has 0.33% invested in the company for 1.67 million shares. Cypress Cap Limited holds 1.9% or 143,914 shares in its portfolio. Moreover, Carroll Fin Assoc Incorporated has 0.04% invested in Abbott Laboratories (NYSE:ABT) for 5,344 shares.

Insider Transactions: Since June 1, 2016, the stock had 4 insider purchases, and 7 insider sales for $12.02 million net activity. 41,500 shares were sold by Fussell Stephen R, worth $1.87M. 565 Abbott Laboratories (NYSE:ABT) shares with value of $22,312 were sold by YOOR BRIAN B. 552 shares were sold by Watkin Jared, worth $20,770 on Wednesday, June 15. WHITE MILES D bought 242,547 shares worth $10.47 million. Blount Sally E. bought $200,124 worth of stock. Warmuth Michael J had sold 26,800 shares worth $1.17M. 3,400 shares were sold by ALLEN HUBERT L, worth $126,276 on Tuesday, June 28.

Abbott Laboratories (NYSE:ABT) Ratings Coverage

Out of 16 analysts covering Abbott Laboratories (NYSE:ABT), 9 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 56% are positive. Abbott Laboratories has been the topic of 40 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The stock of Abbott Laboratories (NYSE:ABT) has “Market Perform” rating given on Friday, January 29 by William Blair. The stock of Abbott Laboratories (NYSE:ABT) has “Buy” rating given on Thursday, August 27 by Wells Fargo. Goldman Sachs downgraded Abbott Laboratories (NYSE:ABT) on Friday, November 13 to “Neutral” rating. As per Monday, August 10, the company rating was reinitiated by Credit Suisse. Jefferies maintained Abbott Laboratories (NYSE:ABT) on Thursday, August 4 with “Buy” rating. The rating was maintained by Jefferies with “Buy” on Tuesday, September 13. The stock of Abbott Laboratories (NYSE:ABT) earned “Outperform” rating by RBC Capital Markets on Friday, October 9. As per Thursday, April 28, the company rating was downgraded by Piper Jaffray. The firm earned “Equal-Weight” rating on Monday, January 4 by Morgan Stanley. The stock of Abbott Laboratories (NYSE:ABT) has “Buy” rating given on Saturday, August 29 by BTIG Research.

ABT Company Profile

Abbott Laboratories (Abbott), incorporated on March 6, 1900, is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Firm operates in four business divisions: 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 Nutrition Products segment includes the sales of a line of adult and pediatric nutritional products. The Diagnostic 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.

More notable recent Abbott Laboratories (NYSE:ABT) news were published by: Seekingalpha.com which released: “Abbott Laboratories Is A Long-Term Buy – Cramer’s Lightning Round (11/18/16)” on November 21, 2016, also 247Wallst.com with their article: “Massive Energy and Health Care Trades Highlight Insider Buying: Abbott Labs …” published on November 20, 2016, Reuters.com published: “Exclusive: EU regulators seen clearing $25 billion Abbott, St Jude deal: s…” on November 15, 2016. More interesting news about Abbott Laboratories (NYSE:ABT) were released by: Barrons.com and their article: “Abbott Labs CEO Doubles His Stock Holdings” published on November 23, 2016 as well as Bloomberg.com‘s news article titled: “Abbott and Alere Need to Keep Talking” with publication date: November 17, 2016.

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By Ruchi Gupta


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