Abbott Park, Illinois based Abbott Laboratories (NYSE:ABT) finished the spinoff of its pharmaceutical unit on Wednesday, establishing AbbVie Inc (NYSE:ABBV) as a separate corporation focused on biopharmaceuticals and new medicine development.
Both the companies will continue to share their headquarters in Abbott Park, Illinois but they will operate with distinct management structures and business targets.
Abbott’s product portfolio is split into 4 areas such as diagnostics, medical devices, branded generic pharmaceuticals and nutritional supplements.
The drug giant is anticipated to beef up its medical-devices unit through purchases and boost its already-heavy exposure to emerging markets.
Abbott Laboratories (NYSE:ABT) last session’s volume of 20.27 million shares was surprisingly higher than its average volume of 6.73 million shares. The stock after opening at $32.30 hit high price of $32.45 and then closed at $32.05 by scoring +2.27%.
The liquidity measure in recent quarter results of the company was recorded 1.67 as current ratio and on the other side the debt to equity ratio was 0.60 and long-term debt to equity ratio remained at 0.45. The Company had total cash of $11.50 billion at hand and a book value per share as $17.09 in the most recent quarter.
The stock’s price volatility was 1.19% for a week and 1.37% for a month as well as price volatility’s Average True Range for 14 days was 3.22 and its beta remained at 0.32.
ABT generated revenue of $39.41 billion in the previous twelve months and earned $6.53 billion. The Company showed a positive 16.56% in the net profit margin as well as in its operating margin which remained at 19.67%. Company’s annual sales growth for the past five years was 11.57%.
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