Could Abbott Laboratories See a Reversal After Today’s Strong Options Activity?

 Could Abbott Laboratories See a Reversal After Today's Strong Options Activity?

In today’s session Abbott Laboratories (ABT) recorded an unusually high (3,011) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious ABT decrease. With 3,011 contracts traded and 5034 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: ABT161021P00039000 closed last at: $0.28 or 12% up. About 2.38 million shares traded hands. Abbott Laboratories (NYSE:ABT) has risen 0.72% since March 14, 2016 and is uptrending. It has underperformed by 4.90% the S&P500.

Analysts await Abbott Laboratories (NYSE:ABT) to report earnings on October, 19. They expect $0.58 EPS, up 7.41% or $0.04 from last year’s $0.54 per share. ABT’s profit will be $848.68M for 17.59 P/E if the $0.58 EPS becomes a reality. After $0.55 actual EPS reported by Abbott Laboratories for the previous quarter, Wall Street now forecasts 5.45% EPS growth.

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 firm has “Buy” rating given on Thursday, August 27 by Wells Fargo. The company was maintained on Thursday, July 23 by Stifel Nicolaus. The rating was maintained by Jefferies with “Buy” on Tuesday, March 15. The rating was upgraded by Jefferies on Monday, December 7 to “Buy”. UBS initiated the shares of ABT in a report on Tuesday, September 22 with “Neutral” rating. The rating was downgraded by Goldman Sachs on Friday, November 13 to “Neutral”. Jefferies maintained the shares of ABT in a report on Thursday, August 4 with “Buy” rating. On Tuesday, June 21 the stock rating was upgraded by Edward Jones to “Buy”. The firm earned “Buy” rating on Thursday, July 14 by Jefferies. Piper Jaffray downgraded the shares of ABT in a report on Thursday, April 28 to “Neutral” rating.

According to Zacks Investment Research, “Abbott is a global healthcare company devoted to improving life through the development of products and technologies that span the breadth of healthcare. They have a portfolio of leading, science-based offerings in diagnostics, medical devices, nutritionals and branded generic pharmaceuticals.”

Insitutional Activity: The institutional sentiment increased to 1.05 in 2016 Q2. Its up 0.18, from 0.87 in 2016Q1. The ratio is positive, 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.
Legal General Grp Pcl holds 0.29% or 7.03 million shares in its portfolio. Kcg Inc accumulated 0.02% or 26,616 shares. Old Mutual Customised Solutions (Proprietary) Limited has 13,600 shares for 0.13% of their US portfolio. Whittier Tru Of Nevada Inc holds 0.63% or 141,080 shares in its portfolio. Scout Incorporated has 15,400 shares for 0.02% of their US portfolio. Bragg Advsr accumulated 0.36% or 50,348 shares. Winch Advisory Limited Liability Company holds 0% or 70 shares in its portfolio. Orrstown Fincl Svcs holds 0% of its portfolio in Abbott Laboratories (NYSE:ABT) for 98 shares. Northside Cap Limited last reported 0.18% of its portfolio in the stock. The Ohio-based Fifth Third National Bank has invested 0.35% in Abbott Laboratories (NYSE:ABT). Saturna holds 0.52% of its portfolio in Abbott Laboratories (NYSE:ABT) for 411,033 shares. Bancorp Of The West holds 0.17% or 29,852 shares in its portfolio. Papp L Roy Assoc accumulated 9,419 shares or 0.09% of the stock. M Kraus reported 74,039 shares or 2.08% of all its holdings. Pacwest Financial Mgmt accumulated 24,075 shares or 0.59% of the stock.

Insider Transactions: Since April 28, 2016, the stock had 1 insider buy, and 8 sales for $6.08 million net activity. $20,770 worth of Abbott Laboratories (NYSE:ABT) shares were sold by Watkin Jared. $1.17 million worth of Abbott Laboratories (NYSE:ABT) was sold by Warmuth Michael J on Tuesday, July 26. $1.15M worth of Abbott Laboratories (NYSE:ABT) was sold by Funck Robert E on Monday, July 25. Shares for $33,994 were sold by Salvadori Daniel Gesua Sive. Shares for $1.87 million were sold by Fussell Stephen R. $2,189 worth of shares were sold by NATH DEEPAK S. on Thursday, April 28. $126,276 worth of Abbott Laboratories (NYSE:ABT) was sold by ALLEN HUBERT L on Tuesday, June 28.

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The company has a market cap of $59.70 billion. The Firm operates in four business divisions: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. It has a 31.32 P/E ratio. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.

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: Chicagotribune.com which released: “Abbott says St. Jude heart device problem won’t affect sale” on October 11, 2016, also Prnewswire.com with their article: “Abbott Laboratories and Johnson & Johnson Battle for the Top Spot in the …” published on September 30, 2016, Reuters.com published: “EU ruling on $25 billion Abbott, St. Jude deal due by November 9” on October 04, 2016. More interesting news about Abbott Laboratories (NYSE:ABT) were released by: Reuters.com and their article: “BRIEF-Terumo Corp looks to purchase portion of Abbott Laboratories’ medica…” published on September 29, 2016 as well as Nasdaq.com‘s news article titled: “Abbott Labs (ABT) Q3 Earnings: What’s Ahead for the Stock?” with publication date: October 13, 2016.

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