Shares of Abbott Laboratories (NYSE:ABT) have been assigned an average rating of “Buy” from the twenty brokerages that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $69.75.
A number of brokerages have recently weighed in on ABT. Royal Bank of Canada reiterated a “buy” rating and set a $70.00 price target on shares of Abbott Laboratories in a report on Thursday, July 19th. Sanford C. Bernstein assumed coverage on Abbott Laboratories in a report on Wednesday, June 27th. They set an “outperform” rating and a $73.00 price target on the stock. Stifel Nicolaus boosted their target price on Abbott Laboratories from $71.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, July 19th. Finally, Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Thursday, July 19th.
In other Abbott Laboratories news, insider Andrew H. Lane sold 9,097 shares of the business’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $67.11, for a total value of $610,499.67. Following the completion of the sale, the insider now owns 35,576 shares of the company’s stock, valued at $2,387,505.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael J. Pederson sold 1,050 shares of the business’s stock in a transaction dated Tuesday, July 24th. The stock was sold at an average price of $63.43, for a total value of $66,601.50. Following the completion of the sale, the insider now directly owns 79,467 shares of the company’s stock, valued at approximately $5,040,591.81. The disclosure for this sale can be found here. Insiders sold 90,389 shares of company stock worth $5,995,012 in the last 90 days. Corporate insiders own 0.74% of the company’s stock.
Several large investors have recently made changes to their positions in ABT. Morgan Stanley lifted its position in shares of Abbott Laboratories by 33.1% in the second quarter. Morgan Stanley now owns 21,218,276 shares of the healthcare product maker’s stock worth $1,294,103,000 after buying an additional 5,274,307 shares during the last quarter. Charles Schwab Investment Advisory Inc. acquired a new position in shares of Abbott Laboratories during the 2nd quarter worth about $275,697,000. American Century Companies Inc. lifted its position in shares of Abbott Laboratories by 417.9% during the 2nd quarter. American Century Companies Inc. now owns 5,586,119 shares of the healthcare product maker’s stock worth $340,697,000 after purchasing an additional 4,507,553 shares during the last quarter. BlackRock Inc. lifted its position in shares of Abbott Laboratories by 3.7% during the 2nd quarter. BlackRock Inc. now owns 116,149,740 shares of the healthcare product maker’s stock worth $7,083,972,000 after purchasing an additional 4,153,157 shares during the last quarter. Finally, Swedbank acquired a new position in shares of Abbott Laboratories during the 2nd quarter worth about $101,535,000. 72.48% of the stock is owned by institutional investors.
Shares of ABT stock traded up $0.38 on Monday, reaching $66.21. 4,060,677 shares of the company’s stock traded hands, compared to its average volume of 4,353,503. Abbott Laboratories has a 12-month low of $51.29 and a 12-month high of $67.36. The company has a current ratio of 1.58, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $115.49 billion, a price-to-earnings ratio of 26.48, a P/E/G ratio of 1.84 and a beta of 1.48.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, July 18th. The healthcare product maker reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. Abbott Laboratories had a return on equity of 15.30% and a net margin of 3.13%. The business had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.71 billion. During the same quarter in the previous year, the company posted $0.62 earnings per share. Abbott Laboratories’s revenue for the quarter was up 17.0% compared to the same quarter last year. sell-side analysts predict that Abbott Laboratories will post 2.88 EPS for the current year.
About Abbott Laboratories
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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