Abbott Laboratories (NYSE:ABT) Price Target Cut to $140.00 by Analysts at Barclays

Abbott Laboratories (NYSE:ABT) had its price objective dropped by equities researchers at Barclays from $141.00 to $140.00 in a report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the healthcare product maker’s stock. Barclays‘s target price indicates a potential upside of 30.15% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. Citigroup lifted their price target on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Evercore ISI boosted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Royal Bank of Canada reduced their target price on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. Finally, Raymond James boosted their target price on shares of Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price of $121.50.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $107.57 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64. The company has a market cap of $186.65 billion, a P/E ratio of 33.51, a P/E/G ratio of 2.58 and a beta of 0.74. The firm’s fifty day moving average is $114.00 and its two-hundred day moving average is $107.97. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The company had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.32%. Abbott Laboratories’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 EPS. As a group, analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Insider Buying and Selling at Abbott Laboratories

In other news, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $112.50, for a total value of $4,781,250.00. Following the completion of the sale, the executive vice president now owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $112.50, for a total value of $4,781,250.00. Following the completion of the sale, the executive vice president now owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrea F. Wainer sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The disclosure for this sale can be found here. Insiders sold a total of 56,435 shares of company stock valued at $6,451,298 in the last three months. Company insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Signature Resources Capital Management LLC bought a new position in shares of Abbott Laboratories during the 4th quarter worth approximately $29,000. Transcendent Capital Group LLC bought a new position in shares of Abbott Laboratories during the 4th quarter worth approximately $29,000. Richardson Financial Services Inc. bought a new position in shares of Abbott Laboratories during the 4th quarter worth approximately $29,000. Redmont Wealth Advisors LLC acquired a new position in Abbott Laboratories during the 1st quarter valued at approximately $30,000. Finally, True Wealth Design LLC increased its stake in Abbott Laboratories by 1,677.8% during the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after purchasing an additional 302 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Company Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.