|Bid||81.72 x 800|
|Ask||83.49 x 900|
|Day's Range||82.03 - 83.32|
|52 Week Range||65.44 - 88.76|
|Beta (3Y Monthly)||0.80|
|PE Ratio (TTM)||50.92|
|Earnings Date||Oct 16, 2019|
|Forward Dividend & Yield||1.28 (1.57%)|
|1y Target Est||94.03|
Here we discuss three medical product stocks that are due to report soon and are likely to beat estimates on earnings, riding on a host of factors.
Abbott earnings of 84 cents per share met expectations in the third quarter, but $8.08 billion in sales was just light of estimates. Abbott stock rose slipped a fraction on Wednesday.
Healthcare giant Abbott Laboratories announced its third-quarter earnings results before markets opened today. Its stock was trading at $83.66 midday.
The indices did not move too much on Wednesday, but a handful of tech stocks were hit hard on the day. Let's look at a few of the top stock trades going into the latter half of the week. Top Stock Trades for Tomorrow No. 1: Adobe (ADBE)Adobe Systems (NASDAQ:ADBE) came under pressure Wednesday following a downgrade from Citi analysts.InvestorPlace - Stock Market News, Stock Advice & Trading TipsShares have been trying to break out over downtrend resistance (blue line) and were actually succeeding before Wednesday. However, the tepid bullish action was not enough to withstand today's selling.Nor were the 20-day and 200-day moving averages, as ADBE stock gapped below both metrics. However, it's finding some reprieve from the 38.2% retracement. Now investors want to know, can ADBE reclaim the 200-day and downtrend resistance or are lower prices in store?If it's the latter, look for a decline down into the $258 to $260 area. There it will find a notable level of support as well as the 50% retracement. If that fails to hold, ADBE stock may be in trouble. On the upside, the charts are pretty cluttered until Adobe can clear the 50-day moving average. Top Stock Trades for Tomorrow No. 2: Netflix (NFLX)Netflix (NASDAQ:NFLX) is very much a mixed picture ahead of the company's earnings report on Wednesday after the close.On the plus side, shares have broken out over downtrend resistance (blue line) and are maintaining above the 20-day moving average. On the downside, they are stuck below the 50-day moving average and the 38.2% retracement.So what now?Should shares decline, look to see if the 23.6% retracement at $267.75 can support the name. If not, $260 could be on deck, with the September low of $252.28 below that. Below the September low and the December low is possible.On the upside, see that NFLX reclaims and holds the 50-day moving average and 38.2% retracement. Above that opens the door to the 50% and 61.8% retracements at $308.61 and $326.81, respectively. Top Stock Trades for Tomorrow No. 3: Abbott Labs (ABT)Abbott Labs (NYSE:ABT) was mixed on Wednesday after it reported earnings. However, with clear-cut support nearby and breakout potential, it's worth watching.Look at the past year of action. Shares have a consolidation period, then tend to break out to new highs and consolidate again. The old highs also tend to become support.Luckily, the prior highs near $79 to $80 also intersect with the 200-day moving average and 61.8% retracement. That makes it a pretty solid risk/reward area for investors. Below $79 and traders may consider stopping out.On the upside, see if ABT stock can break out over downtrend resistance and the 50-day moving average. Over it and a move back to $86-plus could be in the cards. Top Stock Trades for Tomorrow No. 4: ServiceNow (NOW)ServiceNow (NYSE:NOW) was hammered on Wednesday and it leaves the stock clinging to support. Shares are just above the 200-day moving average and range support near $250.Below $250 and the October low of $243.54 is on the table. Below that and the stock could struggle a bit.If support holds, look for NOW to reclaim the 50-day moving average and rally back up to range resistance near $275. Over $275 and perhaps ServiceNow could retest the backside of its prior uptrend (blue line). Top Stock Trades for Tomorrow No. 5: Workday (WDAY)Thought ServiceNow investors were having a bad day? Just look at Workday (NASDAQ:WDAY), which was hit even harder on the day.The 61.8% retracement held WDAY in check on Tuesday, and on Wednesday the 38.2% retracement is acting as bulls' saving grace. Below the 38.2% and Wednesday's low, and the $145 mark could be on the table.If current support at the 38.2% retracement holds, look for WDAY to reclaim the $165 to $166 area. Above that and it will also have to reclaim downtrend resistance.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dividend Stocks to Buy (With Brands You Can Find In Your Kitchen) * 7 Hot & Trendy Generation Z Stocks to Buy * 5 Stocks to Buy in the Mighty Middle The post 5 Top Stock Trades for Thursday: ADBE, NFLX, ABT appeared first on InvestorPlace.
Abbott Laboratories (NYSE: ABT ) reported third-quarter earnings of 84 cents per share, which met the analyst consensus estimate. This is a 12% increase over earnings of 75 cents per share from the same ...
A 63% jump in sales of FreeStyle Libre continuous glucose monitor powered the diabetes unit's better-than-expected revenue of $665 million. The device helps diabetics track blood sugar levels without having to prick their fingers, and the company is awaiting the Food and Drug Administration's approval for the next-generation version of the device, the Freestyle Libre 2.0.
Shares of Abbott Laboratories fell 2.7% in premarket trading Wednesday, after medical device, diagnostics and drug maker reported a third-quarter profit that was in line with expectations, while sales came up a bit shy. Net income rose to $960 million, or 53 cents a share, from $563 million, or 32 cents a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share grew to 84 cents from 75 cents, matching the FactSet consensus of 84 cents. Sales increased 5.5% to $8.08 billion, below the FactSet consensus of $8.11 billion. Within Abbott's business segments, revenue for medical devices was slightly above expectations, while nutrition, diagnostics and established pharmaceuticals was slightly below. Looking ahead, Abbott expects fourth-quarter adjusted EPS of 94 cents to 96 cents, surrounding the FactSet consensus of 95 cents, and narrowed its 2019 guidance range to $3.23 to $3.25 from $3.21 to $3.27. The stock has gained 13.3% year to date through Tuesday, while the SPDR Health Care Select Sector ETF has advanced 5.8% and the S&P 500 has climbed 19.5%.
- Third-quarter sales growth of 5.5 percent; organic sales growth of 7.6 percent - Exceptional growth across key platforms of FreeStyle Libre, MitraClip and Alinity - Continues to strengthen portfolio ...
NEW YORK, NY / ACCESSWIRE / October 16, 2019 / Abbott Laboratories (NYSE: ABT ) will be discussing their earnings results in their 2019 Third Quarter Earnings to be held on October 16, 2019 at 9:00 AM ...
Stocks finish down as investors divide their attention between strong third-quarter earnings and concerns over weak U.S. retail sales and the ongoing U.S.-China trade war.
Abbott Laboratories posted third quarter earnings that were largely in-line with Wall Street forecasts Wednesday, but narrowed its full-year profit forecast.
Investing.com - Abbott Labs (NYSE:ABT) reported third quarter earnings that matched analysts' expectations on Wednesday and revenue that fell short of forecasts.
Tandem Diabetes stock popped Tuesday on a partnership deal with medical behemoth Abbott Laboratories in diabetes treatment. The medical technology firms will integrate their medical devices.
Abbott (ABT) has been growing popular with developments in its flagship, market leading device for the treatment of mitral regurgitation, MitraClip.
Abbott Laboratories Inc. said in a Tuesday filing that its board had authorized an additional $3 billion in share repurchases. The company said there is still a $795 million unused portion of its prior buyback program, which received approval in September 2014. Also on Tuesday, Abbott Labs announced that it would partner with Tandem Diabetes Care on diabetes-management options. Abbott Labs shares are up 0.9% in premarket trading Tuesday. The stock has risen 10% so far this year, as the S&P 500 has gained 18%.
DexCom shares fell Tuesday after rival Tandem Diabetes Care said it was partnering with Abbott Labs to develop a new insulin pump featuring Abbott's glucose-sensing technology. Tandem and Abbott "can provide new ways for people to manage their diabetes" that "can integrate easily into their daily lives, especially people who rely on insulin pumps," Abbott Vice President Jared Watkin said in a statement. The partnership ends exclusivity for DexCom in the space and exposes 15% of the company's sales to competition, according to Bloomberg.
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