Abbott Laboratories (NYSE:ABT – Get Rating) had its price target cut by research analysts at Morgan Stanley from $134.00 to $132.00 in a report issued on Thursday, Stock Target Advisor reports. The brokerage presently has an “overweight” rating on the healthcare product maker’s stock. Morgan Stanley’s target price would indicate a potential upside of 20.88% from the company’s previous close.
A number of other equities research analysts have also commented on ABT. Stifel Nicolaus lowered their price target on shares of Abbott Laboratories from $136.00 to $126.00 in a report on Monday, July 18th. StockNews.com began coverage on shares of Abbott Laboratories in a report on Thursday, March 31st. They issued a “strong-buy” rating for the company. Citigroup decreased their price objective on shares of Abbott Laboratories from $125.00 to $123.00 and set a “buy” rating for the company in a report on Thursday. Cowen decreased their price objective on shares of Abbott Laboratories from $150.00 to $130.00 in a report on Wednesday, July 13th. Finally, Wolfe Research began coverage on shares of Abbott Laboratories in a report on Tuesday, July 5th. They issued an “underperform” rating for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $133.33.
Abbott Laboratories Trading Down 1.3 %
NYSE:ABT opened at $109.20 on Thursday. The company has a fifty day moving average of $110.20 and a 200 day moving average of $117.34. Abbott Laboratories has a 52 week low of $101.24 and a 52 week high of $142.60. The company has a quick ratio of 1.40, a current ratio of 1.85 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $191.20 billion, a P/E ratio of 22.80, a P/E/G ratio of 3.86 and a beta of 0.75.
Abbott Laboratories (NYSE:ABT – Get Rating) last posted its quarterly earnings results on Wednesday, July 20th. The healthcare product maker reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.34. Abbott Laboratories had a net margin of 18.78% and a return on equity of 29.64%. The company had revenue of $11.26 billion during the quarter, compared to analyst estimates of $10.37 billion. During the same period in the prior year, the business posted $1.17 EPS. The firm’s revenue was up 10.1% compared to the same quarter last year. On average, research analysts predict that Abbott Laboratories will post 4.9 earnings per share for the current year.
Insider Transactions at Abbott Laboratories
In related news, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 6,973,500 shares of the company’s stock, valued at approximately $789,539,670. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 6,973,500 shares of the company’s stock, valued at approximately $789,539,670. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Randel William Woodgrift sold 24,000 shares of the stock in a transaction dated 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 sale, the senior vice president now directly owns 47,854 shares in the company, valued at $5,407,502. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.
Institutional Trading of Abbott Laboratories
Institutional investors have recently bought and sold shares of the company. Blue Bell Private Wealth Management LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $30,000. Bourgeon Capital Management LLC purchased a new stake in shares of Abbott Laboratories during the 1st quarter valued at about $30,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of Abbott Laboratories during the 1st quarter valued at about $30,000. Dravo Bay LLC purchased a new stake in shares of Abbott Laboratories during the 1st quarter valued at about $32,000. Finally, Delos Wealth Advisors LLC boosted its holdings in shares of Abbott Laboratories by 100.9% during the 4th quarter. Delos Wealth Advisors LLC now owns 231 shares of the healthcare product maker’s stock valued at $33,000 after acquiring an additional 116 shares during the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.
Abbott Laboratories Company Profile
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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