Abbott Laboratories (NYSE:ABT)‘s stock had its “hold” rating reiterated by equities research analysts at BMO Capital Markets in a report released on Friday, September 1st. They presently have a $53.00 price target on the healthcare product maker’s stock. BMO Capital Markets’ price target suggests a potential upside of 1.88% from the company’s previous close.
A number of other analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a report on Tuesday, May 16th. TheStreet downgraded shares of Abbott Laboratories from a “b” rating to a “c+” rating in a report on Thursday, May 18th. BidaskClub upgraded shares of Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Abbott Laboratories in a report on Tuesday, May 16th. They issued a “neutral” rating and a $45.00 price target on the stock. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $58.00 price objective on shares of Abbott Laboratories in a research note on Thursday, June 29th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $52.50.
Abbott Laboratories (NYSE:ABT) opened at 52.02 on Friday. The stock has a market capitalization of $90.38 billion, a price-to-earnings ratio of 72.86 and a beta of 1.06. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $52.15. The company has a 50-day moving average of $49.81 and a 200 day moving average of $46.69.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The company had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.63 billion. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. Abbott Laboratories’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 EPS. On average, equities research analysts anticipate that Abbott Laboratories will post $2.49 earnings per share for the current fiscal year.
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In other Abbott Laboratories news, insider Sharon J. Bracken sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $49.16, for a total value of $98,320.00. Following the completion of the sale, the insider now directly owns 28,806 shares of the company’s stock, valued at approximately $1,416,102.96. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Stephen R. Fussell sold 196,550 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total transaction of $9,729,225.00. Following the completion of the sale, the insider now directly owns 221,488 shares of the company’s stock, valued at $10,963,656. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 218,702 shares of company stock valued at $10,837,658. 0.76% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Heritage Trust Co boosted its position in Abbott Laboratories by 10.1% in the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after buying an additional 200 shares during the period. Cypress Capital Management LLC WY boosted its position in Abbott Laboratories by 37.9% in the 1st quarter. Cypress Capital Management LLC WY now owns 2,531 shares of the healthcare product maker’s stock valued at $112,000 after buying an additional 696 shares during the period. Feltz Wealth PLAN Inc. purchased a new stake in Abbott Laboratories in the 1st quarter valued at about $112,000. Winfield Associates Inc. boosted its position in Abbott Laboratories by 3.9% in the 2nd quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after buying an additional 89 shares during the period. Finally, Thompson Davis & CO. Inc. boosted its position in Abbott Laboratories by 17.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after buying an additional 370 shares during the period. 71.66% of the stock is owned by institutional investors.
Abbott Laboratories Company Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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