AbbVie Inc. (ABBV), a Drug Manufacturers—General business, was a bullish stock in the prior market session. AbbVie Inc. (ABBV) shares opened at $90.00 and closed the day at $90.46 with positive move of +2.91%. The increase move in AbbVie Inc. (ABBV) beat the move in the S&P 500 for the day which losed -2.05% in prior market session.
AbbVie Inc. (ABBV) is focused on the Drug Manufacturers—General sector. This market sector has seen some action from day traders in recent months. Bullish day traders of AbbVie Inc. (ABBV) will be looking for positive upcoming earnings whereas bearish day traders of AbbVie Inc. (ABBV) will be looking for negative earnings. The last time AbbVie Inc. (ABBV) had an earnings surprise was on Qtr Ending 03/20 when they reported $2.42 compared to an estimate of $2.27 which was a difference of $+0.15 resulting in a change of +6.61%. Current earnings estimates are to be released for Current Qtr 06/2020 on AbbVie Inc. (ABBV) and out of 4 Wall Street estimates the average is saying $2.19. The high estimate is saying $2.27 whereas the low estimate is saying $2.11 and the prior year AbbVie Inc. (ABBV) announced earnings at $2.26 a growth rate est. (year over year) of -3.10%.
The market performance of AbbVie Inc. (ABBV) has varied recently. Year to date AbbVie Inc. (ABBV)’s shares are down -0.72%. Over the past 12 weeks AbbVie Inc. (ABBV) is down -6.54% and over the last 4 weeks AbbVie Inc. (ABBV) is up 9.46%. AbbVie Inc. (ABBV) current income statement shows revenue (ttm) of $34.06B. Gross Profit is $25.83B. This puts the current EBITDA of AbbVie Inc. (ABBV) at $16.02B.
Wall street day traders might also notice recent changes to stock analyst estimates for AbbVie Inc. (ABBV). The stock is trading with an RSI (relative strength index) of 64.66 indicating AbbVie Inc. (ABBV) is neither overbought nor oversold. Technically, ABBV’s short term support levels are around $14.51, $13.98 and $13.01 on the downside. ABBVs short term resistance levels are $23.50, $22.70 and $22.24 on the upside. The market cap of AbbVie Inc. (ABBV) is $159.421B and institutions hold 76.76% of the stock. The outstanding share count stands at 1.48B while the short float (shares short) stands at 5.74%.
Research indicates that these financial estimate changes look to be directly correlated with short-term shares prices. The day traders can look to capitalize on the basis of ranking. Based on technical analysis, ABBV has short term rating of Bullish (0.25), Intermediate rating of Neutral (0.02) and the long-term rating of Bullish (0.31) giving it an overall rating of Neutral (0.19).
The EPS growth this year on AbbVie Inc. (ABBV) is increased 42.30% and is expected to increase 7.41% next year. However, quarterly earnings (EPS) growth year over year on AbbVie Inc. (ABBV) has increased by 22.50% and quarterly revenue (Sales) growth year over year stands at 10.10%. Gross margin is detected at 77.10% that represents the percent of total sales revenue that the company retains after direct cost of goods sold. Net profit margin (ttm) is 25.20% while return on equity (ttm) is -103.70%.
Recent Developments:
2020-05-08 – Abbvie Says Borrowed $3.0 Bln Under Term Loan Credit Agreement.
2020-05-06 – Abbvie Says Allergan CEO Brent Saunders Has Elected Not To Join Abbvie Board.
2020-05-01 – Abbvie Says Saw Modest Impact To New Patient Starts For Some Drugs Due To COVID-19 Restrictions: Q1 Conf Call.
2020-05-01 – Abbvie Reports Qtrly Adjusted Earnings Per Share $2.42.
2020-04-21 – FDA approves ibrutinib plus rituximab for chronic lymphocytic leukemia.
