Abbott Labs (NYSE:ABT) Short Interest Decreased By 11.2%


The stock of Abbott Labs (NYSE:ABT) registered a decrease of 11.2% in short interest. ABT’s total short interest was 64.59M shares in September as published by FINRA. Its down 11.2% from 72.74 million shares, reported previously. With 12.07M shares average volume, it will take short sellers 5 days to cover their ABT’s short positions. The short interest to Abbott Labs’s float is 4.41%. About 1.77 million shares traded hands. Abbott Laboratories (NYSE:ABT) has risen 10.57% since February 8, 2016 and is uptrending. It has underperformed by 5.92% 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 $60.55 billion. The Firm operates in four business divisions: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. It has a 31.31 P/E ratio. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.

The institutional sentiment increased to 1.05 in 2016 Q2. Its up 0.18, from 0.87 in 2016Q1. The ratio improved, 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.

Arrow Capital Management Llc holds 19.32% of its portfolio in Abbott Laboratories for 301,455 shares. Flossbach Von Storch Ag owns 14.51 million shares or 9.8% of their US portfolio. Moreover, Jarislowsky Fraser Ltd has 7.37% invested in the company for 18.80 million shares. The United Kingdom-based Mondrian Investment Partners Ltd has invested 7.03% in the stock. Brandywine Trust Co, a Delaware-based fund reported 224,855 shares.

Out of 15 analysts covering Abbott Laboratories (NYSE:ABT), 8 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 53% are positive. Abbott Laboratories has been the topic of 27 analyst reports since September 22, 2015 according to StockzIntelligence Inc. Jefferies maintained the stock on August 4 with “Buy” rating.

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