Abbott Laboratories (NYSE:ABT)’s stock hasn’t had as good of a 2013 as some investors may want, but one indicator tells us now may be the time to buy.
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Thus, we’re going to discuss the recent info surrounding Abbott Laboratories (NYSE:ABT).
What does the smart money think about Abbott Laboratories (NYSE:ABT)?
At the end of the second quarter, a total of 37 of the hedge funds we track were bullish in this stock, a change of 19% from the previous quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were upping their holdings significantly.
As aggregate interest spiked, certain bigger names have been driving this bullishness. Southeastern Asset Management, managed by Mason Hawkins, created the most outsized position in Abbott Laboratories (NYSE:ABT). Southeastern Asset Management had 502.9 million invested in the company at the end of the quarter. Cliff Asness’s AQR Capital Management also made a $152.6 million investment in the stock during the quarter. The other funds with brand new ABT positions are Richard S. Pzena’s Pzena Investment Management, Ric Dillon’s Diamond Hill Capital, and Phill Gross and Robert Atchinson’s Adage Capital Management.
What have insiders been doing with Abbott Laboratories (NYSE:ABT)?
Bullish insider trading is at its handiest when the company in question has experienced transactions within the past 180 days. Over the last half-year time frame, Abbott Laboratories (NYSE:ABT) has experienced zero unique insiders buying, and 9 insider sales (see the details of insider trades here).
We’ll go over the relationship between both of these indicators in other stocks similar to Abbott Laboratories (NYSE:ABT). These stocks are St. Jude Medical, Inc. (NYSE:STJ), Zimmer Holdings, Inc. (NYSE:ZMH), Intuitive Surgical, Inc. (NASDAQ:ISRG), Stryker Corporation (NYSE:SYK), and Medtronic, Inc. (NYSE:MDT). All of these stocks are in the medical appliances & equipment industry and their market caps match ABT’s market cap.
