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.
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.
Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.