Abbott Laboratories (NYSE: ABT – Get Rating) had its price objective decreased by equities research analysts at BTIG Research from $ 140.00 to $ 130.00 in a note issued to investors on Friday, The Fly reports. The firm currently has a “buy” rating on the healthcare product maker’s stock. BTIG Research’s price objective indicates a potential upside of 18.78% from the stock’s previous close.
Several other equities analysts also recently issued reports on the company. Bank of America started coverage on Abbott Laboratories in a research note on Tuesday, March 1st. They issued a “buy” rating and a $ 140.00 price objective on the stock. Royal Bank of Canada reduced their price target on shares of Abbott Laboratories from $ 146.00 to $ 143.00 and set an “outperform” rating on the stock in a research report on Thursday, April 21st. Wells Fargo & Company lowered their price objective on shares of Abbott Laboratories from $ 155.00 to $ 150.00 and set an “overweight” rating for the company in a research report on Friday, April 8th. Morgan Stanley reduced their target price on shares of Abbott Laboratories from $ 151.00 to $ 145.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 7th. Finally, Raymond James dropped their price objective on shares of Abbott Laboratories from $ 143.00 to $ 135.00 and set an “outperform” rating for the company in a research report on Thursday, April 21st. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company stock. According to data from MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $ 139.64.
ABT opened at $ 109.45 on Friday. The firm has a market cap of $ 191.64 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 3.84 and a beta of 0.73. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.40 and a current ratio of 1.85. The firm’s 50-day simple moving average is $ 112.55 and its 200-day simple moving average is $ 121.22. Abbott Laboratories has a twelve month low of $ 101.24 and a twelve month high of $ 142.60.
Abbott Laboratories (NYSE: ABT – Get Rating) last issued its quarterly earnings data on Wednesday, April 20th. The healthcare product maker reported $ 1.73 earnings per share for the quarter, topping the consensus estimate of $ 1.47 by $ 0.26. Abbott Laboratories had a net margin of 17.35% and a return on equity of 28.72%. The firm had revenue of $ 11.90 billion for the quarter, compared to analysts’ expectations of $ 11 billion. During the same period in the prior year, the firm earned $ 1.32 earnings per share. The company quarterly revenue was up 13.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Abbott Laboratories will post 4.84 EPS for the current fiscal year.
In related news, SVP Randel William Woodgrift sold 24,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $ 113.00, for a total transaction of $ 2,712,000.00. Following the completion of the transaction, the senior vice president now owns 47,854 shares in the company, valued at $ 5,407,502. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel J. Starks sold 50,000 shares of the company stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $ 113.22, for a total transaction of $ 5,661,000.00. Following the completion of the sale, the director now directly owns 6,973,500 shares of the company stock, valued at approximately $ 789,539,670. The disclosure for this sale can be found here. 0.52% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ABT. Norges Bank bought a new stake in Abbott Laboratories during the 4th quarter worth approximately $ 2,290,723,000. Jennison Associates LLC boosted its holdings in shares of Abbott Laboratories by 240.8% in the first quarter. Jennison Associates LLC now owns 6,052,143 shares of the healthcare product maker’s stock valued at $ 716,332,000 after buying an additional 4,276,374 shares during the period. BlackRock Inc. increased its position in shares of Abbott Laboratories by 2.1% during the fourth quarter. BlackRock Inc. now owns 137,155,602 shares of the healthcare product maker’s stock worth $ 19,303,283,000 after acquiring an additional 2,836,966 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Abbott Laboratories by 83.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,925,012 shares of the healthcare product maker’s stock valued at $ 582,924,000 after acquiring an additional 2,235,314 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Abbott Laboratories by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 151,288,441 shares of the healthcare product maker’s stock worth $ 17,906,500,000 after purchasing an additional 2,136,177 shares during the period. 73.46% of the stock is currently owned by institutional investors.
About Abbott Laboratories: (Get Rating)
Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.
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