Vise Technologies Inc. bought a new position in Abbott Laboratories (NYSE:ABT – Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 85,874 shares of the healthcare product maker’s stock, valued at approximately $8,487,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Foresight Capital Management Advisors Inc. acquired a new stake in shares of Abbott Laboratories in the third quarter valued at about $31,000. Manning & Napier Advisors LLC bought a new position in shares of Abbott Laboratories in the second quarter worth about $31,000. Balance Wealth Partners LLC bought a new position in shares of Abbott Laboratories in the third quarter worth about $34,000. Summit Securities Group LLC lifted its position in shares of Abbott Laboratories by 41.3% during the 2nd quarter. Summit Securities Group LLC now owns 404 shares of the healthcare product maker’s stock worth $37,000 after purchasing an additional 118 shares during the last quarter. Finally, Addison Advisors LLC acquired a new position in shares of Abbott Laboratories during the 2nd quarter worth about $40,000. Institutional investors and hedge funds own 75.18% of the company’s stock.
Abbott Laboratories News Roundup
Here are the key news stories impacting Abbott Laboratories this week:
- Positive Sentiment: Abbott began the pivotal CROWN-MV trial for its investigational Cephea Mitral Valve System, designed as a minimally invasive treatment for symptomatic mitral valve disease patients who are ineligible for surgery or transcatheter repair. Successful development could expand Abbott’s structural-heart portfolio, although the device remains investigational and carries clinical and regulatory risk. Abbott initiates pivotal trial for Cephea device
- Positive Sentiment: Industry reports forecast strong expansion in point-of-care diagnostics across South and Central America and continued growth in home INR monitoring. Abbott is listed among the key suppliers, suggesting potential long-term opportunities for its diagnostics business through testing volume, instruments and recurring consumables. South and Central America point-of-care diagnostics market Point-of-care INR testing market
- Neutral Sentiment: Discussion of Abbott’s approaching breakup highlights the potential for value creation through separating businesses, but also raises questions about execution, valuation and how costs and growth prospects will be allocated among the resulting companies. Can Abbott Laboratories Stay Reasonable As Its Breakup Nears?
- Negative Sentiment: Dexcom exceeded expectations and raised guidance, underscoring robust demand for continuous glucose-monitoring wearables but also intensifying competitive pressure on Abbott’s FreeStyle Libre franchise. Stronger execution by Dexcom could weigh on expectations for Abbott’s diabetes-care growth. Dexcom shakes off Abbott-tied malaise
- Negative Sentiment: Argus downgraded Abbott Laboratories, adding a near-term valuation and analyst-sentiment headwind. Abbott Laboratories stock gets downgrade from Argus
Abbott Laboratories Stock Performance
NYSE:ABT opened at $106.33 on Monday. The firm’s 50-day moving average is $104.36 and its 200-day moving average is $102.06. The company has a market cap of $183.99 billion, a price-to-earnings ratio of 39.68, a PEG ratio of 1.86 and a beta of 0.54. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.38. Abbott Laboratories has a 52-week low of $81.97 and a 52-week high of $132.02.
Abbott Laboratories (NYSE:ABT – Get Free Report) last released its earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 earnings per share for the quarter, meeting the consensus estimate of $1.42. Abbott Laboratories had a net margin of 9.75% and a return on equity of 17.97%. The business had revenue of $13.01 billion during the quarter, compared to analysts’ expectations of $12.99 billion. During the same quarter last year, the company earned $1.30 earnings per share. The firm’s revenue was up 14.5% on a year-over-year basis. Equities research analysts anticipate that Abbott Laboratories will post 5.52 earnings per share for the current year.
Abbott Laboratories Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 94.03%.
Analyst Ratings Changes
Several analysts recently weighed in on the company. TD Cowen decreased their target price on Abbott Laboratories from $135.00 to $118.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Weiss Ratings raised Abbott Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 18th. Royal Bank Of Canada cut their price target on Abbott Laboratories from $130.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, October 22nd. Wall Street Zen raised Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, October 24th. Finally, Wells Fargo & Company increased their price objective on Abbott Laboratories from $112.00 to $119.00 and gave the company an “overweight” rating in a research report on Thursday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price of $118.32.
Abbott Laboratories Profile
Abbott Laboratories is a global healthcare company that develops, manufactures and markets a broad range of medical products and services. Founded in 1888 by Wallace C. Abbott, the company is headquartered in Abbott Park, Illinois, and serves patients, healthcare providers and consumers in markets around the world.
Abbott operates across four principal businesses: medical devices, diagnostics, nutrition and established pharmaceutical products. Its offerings include glucose-monitoring systems such as FreeStyle Libre; cardiovascular devices, including stents and structural heart products; laboratory and point-of-care diagnostic systems; and branded generic medicines in areas such as gastroenterology, women’s health and cardiometabolic care.
The company’s nutrition portfolio includes infant and pediatric products such as Similac and PediaSure, adult nutritional products such as Ensure, and rehydration products such as Pedialyte.
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