Abbott Laboratories (ABT) PT Raised to $80.00

Abbott Laboratories (NYSE:ABT) had its price target boosted by equities researchers at Morgan Stanley from $70.00 to $80.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The firm currently has an “overweight” rating on the healthcare product maker’s stock. Morgan Stanley’s price objective indicates a potential upside of 15.39% from the company’s previous close.

ABT has been the topic of a number of other research reports. Cowen upped their target price on Abbott Laboratories from $72.00 to $86.00 and gave the stock an “average” rating in a research note on Friday, October 5th. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Wells Fargo & Co upped their target price on Abbott Laboratories from $77.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, September 24th. Raymond James upped their target price on Abbott Laboratories from $72.00 to $77.00 and gave the stock an “outperform” rating in a research note on Monday, September 24th. Finally, Sanford C. Bernstein initiated coverage on Abbott Laboratories in a research note on Wednesday, June 27th. They issued an “outperform” rating and a $73.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $73.72.

Shares of ABT opened at $69.33 on Thursday. Abbott Laboratories has a 52 week low of $53.61 and a 52 week high of $74.15. 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 stock has a market capitalization of $128.70 billion, a PE ratio of 27.69, a P/E/G ratio of 2.05 and a beta of 1.49.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, July 18th. The healthcare product maker reported $0.73 EPS for the quarter, topping 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 firm had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.71 billion. During the same quarter in the prior year, the business earned $0.62 earnings per share. The company’s revenue was up 17.0% compared to the same quarter last year. On average, research analysts predict that Abbott Laboratories will post 2.88 EPS for the current fiscal year.

In other Abbott Laboratories news, EVP Brian J. Blaser sold 15,100 shares of the stock in a transaction that occurred on Tuesday, July 24th. The stock was sold at an average price of $63.96, for a total transaction of $965,796.00. Following the transaction, the executive vice president now owns 151,718 shares in the company, valued at $9,703,883.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel Gesua Sive Salvadori sold 5,000 shares of the stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $73.39, for a total value of $366,950.00. Following the transaction, the insider now owns 93,321 shares in the company, valued at approximately $6,848,828.19. The disclosure for this sale can be found here. Insiders have sold 155,321 shares of company stock worth $10,492,583 in the last quarter. 0.74% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Private Capital Advisors Inc. raised its holdings in shares of Abbott Laboratories by 19.4% during the third quarter. Private Capital Advisors Inc. now owns 31,350 shares of the healthcare product maker’s stock valued at $1,673,000 after acquiring an additional 5,100 shares during the last quarter. Community Bank & Trust Waco Texas raised its holdings in shares of Abbott Laboratories by 2.8% during the third quarter. Community Bank & Trust Waco Texas now owns 38,583 shares of the healthcare product maker’s stock valued at $2,830,000 after acquiring an additional 1,061 shares during the last quarter. Berkshire Asset Management LLC PA raised its holdings in shares of Abbott Laboratories by 4.4% during the third quarter. Berkshire Asset Management LLC PA now owns 288,197 shares of the healthcare product maker’s stock valued at $21,142,000 after acquiring an additional 12,102 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Abbott Laboratories by 26.3% during the third quarter. Bank of Montreal Can now owns 2,570,322 shares of the healthcare product maker’s stock valued at $188,557,000 after acquiring an additional 535,939 shares during the last quarter. Finally, MAI Capital Management raised its holdings in shares of Abbott Laboratories by 0.3% during the third quarter. MAI Capital Management now owns 259,466 shares of the healthcare product maker’s stock valued at $19,034,000 after acquiring an additional 827 shares during the last quarter. Institutional investors own 72.16% of the company’s stock.

Abbott Laboratories Company Profile

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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