Abbott Laboratories (NYSE:ABT) Given Average Recommendation of “Buy” by Brokerages

Shares of Abbott Laboratories (NYSE:ABT) have earned a consensus rating of “Buy” from the fifteen research firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $128.93.

A number of research analysts recently issued reports on ABT shares. Morgan Stanley lifted their price target on Abbott Laboratories from $126.00 to $136.00 and gave the company an “overweight” rating in a report on Friday, July 23rd. BTIG Research lifted their price target on Abbott Laboratories from $126.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, August 31st. Barclays cut their price target on Abbott Laboratories from $150.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, June 2nd. Wells Fargo & Company lifted their price target on Abbott Laboratories from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Monday, July 12th. Finally, lowered their price objective on Abbott Laboratories from $138.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, June 2nd.

Shares of NYSE ABT traded up $0.43 during midday trading on Tuesday, reaching $127.05. 4,176,457 shares of the company traded hands, compared to its average volume of 5,376,956. The firm has a market cap of $225.24 billion, a PE ratio of 35.79, a PEG ratio of 2.45 and a beta of 0.66. The stock’s 50-day simple moving average is $123.08 and its 200-day simple moving average is $119.30. Abbott Laboratories has a 12 month low of $100.34 and a 12 month high of $129.70. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.36 and a current ratio of 1.79.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, July 21st. The healthcare product maker reported $1.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.15. Abbott Laboratories had a return on equity of 26.75% and a net margin of 15.85%. The company had revenue of $10.22 billion during the quarter, compared to analysts’ expectations of $9.67 billion. During the same period last year, the business earned $0.57 earnings per share. The business’s revenue was up 41.2% on a year-over-year basis. On average, equities research analysts expect that Abbott Laboratories will post 4.42 EPS for the current year.

In related news, EVP Andrea F. Wainer sold 14,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 17th. The stock was sold at an average price of $125.00, for a total value of $1,812,500.00. Following the completion of the transaction, the executive vice president now directly owns 54,282 shares in the company, valued at approximately $6,785,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael J. Pederson sold 23,008 shares of the business’s stock in a transaction that occurred on Wednesday, September 8th. The shares were sold at an average price of $129.05, for a total value of $2,969,182.40. The disclosure for this sale can be found here. Insiders have sold a total of 222,883 shares of company stock valued at $27,964,400 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. 4Thought Financial Group Inc. acquired a new position in shares of Abbott Laboratories in the 2nd quarter valued at approximately $25,000. Holloway Wealth Management LLC grew its position in shares of Abbott Laboratories by 150.0% in the 2nd quarter. Holloway Wealth Management LLC now owns 250 shares of the healthcare product maker’s stock valued at $29,000 after purchasing an additional 150 shares during the period. Sierra Capital LLC bought a new stake in Abbott Laboratories in the 1st quarter valued at approximately $30,000. CKW Financial Group bought a new stake in Abbott Laboratories in the 2nd quarter valued at approximately $36,000. Finally, Isthmus Partners LLC bought a new stake in Abbott Laboratories in the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds own 72.05% of the company’s stock.

Abbott Laboratories Company Profile

Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.

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Analyst Recommendations for Abbott Laboratories (NYSE:ABT)

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