Abbott Laboratories’ (ABT) Buy Rating Reaffirmed at BTIG Research

Abbott Laboratories (NYSE:ABT)‘s stock had its “buy” rating reissued by investment analysts at BTIG Research in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $145.00 price objective on the healthcare product maker’s stock. BTIG Research’s price target would suggest a potential upside of 14.83% from the stock’s current price.

Several other analysts have also issued reports on ABT. Royal Bank Of Canada reiterated an “outperform” rating and set a $147.00 price objective on shares of Abbott Laboratories in a report on Thursday, October 16th. Benchmark initiated coverage on Abbott Laboratories in a research note on Friday, October 10th. They set a “buy” rating and a $145.00 price target for the company. Evercore ISI lowered their price target on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a research note on Wednesday, October 15th. Sanford C. Bernstein increased their price objective on Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Finally, Barclays lifted their target price on shares of Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $147.00.

Abbott Laboratories Stock Performance

ABT stock opened at $126.28 on Thursday. The firm has a 50 day simple moving average of $130.24 and a 200 day simple moving average of $131.30. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The stock has a market cap of $219.58 billion, a P/E ratio of 15.82, a P/E/G ratio of 2.36 and a beta of 0.68. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.30. The company had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ABT. IMG Wealth Management Inc. increased its stake in shares of Abbott Laboratories by 759.1% in the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 167 shares during the period. Cloud Capital Management LLC acquired a new stake in Abbott Laboratories in the 3rd quarter valued at approximately $29,000. Elequin Capital LP bought a new position in Abbott Laboratories in the 1st quarter worth approximately $30,000. Guerra Advisors Inc acquired a new position in shares of Abbott Laboratories during the third quarter worth approximately $31,000. Finally, Anfield Capital Management LLC boosted its position in shares of Abbott Laboratories by 81.3% in the second quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock valued at $32,000 after acquiring an additional 104 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

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.