Abbott Laboratories (NYSE:ABT) Price Target Raised to $169.00

Abbott Laboratories (NYSE:ABT) had its target price increased by analysts at Barclays from $162.00 to $169.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the healthcare product maker’s stock. Barclays‘s price objective would suggest a potential upside of 36.97% from the stock’s previous close.

ABT has been the subject of a number of other research reports. Benchmark began coverage on shares of Abbott Laboratories in a report on Friday, October 10th. They set a “buy” rating and a $145.00 price objective for the company. Evercore ISI lowered their target price on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a report on Wednesday, October 15th. Mizuho increased their price objective on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Jefferies Financial Group boosted their price objective on shares of Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Finally, Sanford C. Bernstein raised their target price on shares of Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.37.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT traded down $0.81 during midday trading on Monday, hitting $123.38. The company’s stock had a trading volume of 364,764 shares, compared to its average volume of 2,672,907. The stock has a market capitalization of $214.55 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 2.06 and a beta of 0.72. The stock’s 50 day simple moving average is $125.99 and its 200 day simple moving average is $129.59. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.24 and a current ratio of 1.70. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting analysts’ consensus estimates of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. The business had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. During the same quarter in the prior year, the business earned $1.21 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. IMG Wealth Management Inc. increased its position in Abbott Laboratories by 759.1% in the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after buying an additional 167 shares in the last quarter. Cloud Capital Management LLC purchased a new stake in shares of Abbott Laboratories in the third quarter worth approximately $29,000. Guerra Advisors Inc purchased a new position in Abbott Laboratories during the third quarter worth about $31,000. Anfield Capital Management LLC lifted its holdings in Abbott Laboratories by 81.3% during the second quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock worth $32,000 after acquiring an additional 104 shares during the period. Finally, Delos Wealth Advisors LLC bought a new position in shares of Abbott Laboratories during the 2nd quarter valued at approximately $32,000. 75.18% of the stock is owned by institutional investors.

About Abbott Laboratories

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.