Abbott Laboratories (NYSE:ABT) Receives “Hold” Rating from BMO Capital Markets
Abbott Laboratories (NYSE:ABT)‘s stock had its “hold” rating reiterated by equities research analysts at BMO Capital Markets in a research note issued on Tuesday, July 11th. They currently have a $48.00 target price on the healthcare product maker’s stock. BMO Capital Markets’ price target indicates a potential downside of 2.56% from the company’s current price.
ABT has been the subject of a number of other research reports. Morgan Stanley restated an “equal weight” rating on shares of Abbott Laboratories in a report on Monday, July 10th. TheStreet upgraded Abbott Laboratories from a “c+” rating to a “b” rating in a report on Monday, July 3rd. Wells Fargo & Company reaffirmed an “outperform” rating and set a $54.00 target price (up from $47.50) on shares of Abbott Laboratories in a research report on Friday, June 30th. Jefferies Group LLC reaffirmed a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a research report on Thursday, June 29th. Finally, Guggenheim began coverage on Abbott Laboratories in a research report on Thursday, June 29th. They set a “buy” rating and a $58.00 target price for the company. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $51.93.
Abbott Laboratories (NYSE ABT) traded up 0.20% during trading on Tuesday, hitting $49.26. 3,334,712 shares of the company traded hands. The stock has a 50 day moving average price of $48.97 and a 200 day moving average price of $45.28. The company has a market capitalization of $85.48 billion, a P/E ratio of 68.99 and a beta of 1.07. Abbott Laboratories has a 12-month low of $37.38 and a 12-month high of $51.13.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The firm had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.63 billion. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The company’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 EPS. On average, equities analysts anticipate that Abbott Laboratories will post $2.49 earnings per share for the current year.
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In other Abbott Laboratories news, insider Jared Watkin sold 552 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $47.97, for a total transaction of $26,479.44. Following the completion of the transaction, the insider now owns 47,090 shares of the company’s stock, valued at $2,258,907.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sharon J. Bracken sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $49.16, for a total value of $98,320.00. Following the transaction, the insider now directly owns 28,806 shares of the company’s stock, valued at approximately $1,416,102.96. The disclosure for this sale can be found here. Insiders sold a total of 218,702 shares of company stock valued at $10,149,733 in the last ninety days. 0.76% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in ABT. Cypress Capital Management LLC WY boosted its position in shares of Abbott Laboratories by 37.9% in the first quarter. Cypress Capital Management LLC WY now owns 2,531 shares of the healthcare product maker’s stock worth $112,000 after buying an additional 696 shares during the last quarter. Feltz Wealth PLAN Inc. bought a new stake in Abbott Laboratories during the first quarter valued at approximately $112,000. Winfield Associates Inc. boosted its stake in Abbott Laboratories by 3.9% in the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after buying an additional 89 shares in the last quarter. Advantage Investment Management LLC bought a new stake in Abbott Laboratories during the fourth quarter valued at approximately $120,000. Finally, First Command Financial Services Inc. boosted its stake in Abbott Laboratories by 10.2% in the first quarter. First Command Financial Services Inc. now owns 2,787 shares of the healthcare product maker’s stock valued at $124,000 after buying an additional 257 shares in the last quarter. 71.02% of the stock is owned by institutional investors and hedge funds.
Abbott Laboratories Company Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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