Abbott Laboratories (NYSE:ABT) had its price target hoisted by equities researchers at Royal Bank Of Canada from $55.00 to $60.00 in a report issued on Thursday. The brokerage presently has an “outperform” rating on the healthcare product maker’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 7.58% from the stock’s previous close.

A number of other research firms have also recently commented on ABT. Jefferies Group LLC reissued a “buy” rating and issued a $58.00 price target on shares of Abbott Laboratories in a research note on Thursday, August 3rd. BMO Capital Markets reissued a “hold” rating and issued a $53.00 price target on shares of Abbott Laboratories in a research note on Friday, September 1st. Cowen and Company reissued a “buy” rating and issued a $55.00 price target on shares of Abbott Laboratories in a research note on Thursday, August 17th. TheStreet raised shares of Abbott Laboratories from a “c+” rating to a “b” rating in a research note on Monday, July 3rd. Finally, BidaskClub cut shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $55.69.

Shares of Abbott Laboratories (NYSE ABT) opened at 55.77 on Thursday. The stock’s 50 day moving average is $52.94 and its 200-day moving average is $48.37. Abbott Laboratories has a one year low of $37.38 and a one year high of $56.60. The company has a market cap of $96.90 billion, a P/E ratio of 78.11 and a beta of 1.06.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The business had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. During the same quarter in the previous year, the company earned $0.59 EPS. The business’s quarterly revenue was up 28.8% compared to the same quarter last year. Equities research analysts forecast that Abbott Laboratories will post $2.50 earnings per share for the current year.

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In related news, insider Stephen R. Fussell sold 196,550 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total transaction of $9,729,225.00. Following the completion of the sale, the insider now directly owns 221,488 shares in the company, valued at approximately $10,963,656. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sharon J. Bracken sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $49.16, for a total transaction of $98,320.00. Following the sale, the insider now owns 28,806 shares of the company’s stock, valued at $1,416,102.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 333,310 shares of company stock valued at $16,857,255. Company insiders own 0.76% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Heritage Trust Co raised its holdings in Abbott Laboratories by 10.1% during the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after buying an additional 200 shares during the last quarter. Winfield Associates Inc. raised its holdings in Abbott Laboratories by 3.9% during the 2nd 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 during the last quarter. Thompson Davis & CO. Inc. raised its holdings in Abbott Laboratories by 17.7% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after buying an additional 370 shares during the last quarter. V Wealth Management LLC bought a new stake in Abbott Laboratories during the 2nd quarter valued at $127,000. Finally, JFS Wealth Advisors LLC raised its holdings in Abbott Laboratories by 349.0% during the 2nd quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock valued at $131,000 after buying an additional 2,094 shares during the last quarter. Institutional investors own 71.45% of the company’s stock.

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.

Analyst Recommendations for Abbott Laboratories (NYSE:ABT)

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