Abbott Laboratories (NYSE:ABT) Price Target Raised to $144.00

Abbott Laboratories (NYSE:ABT) had its price target raised by investment analysts at Evercore ISI from $142.00 to $144.00 in a report released on Monday,MarketScreener reports. The firm currently has an “outperform” rating on the healthcare product maker’s stock. Evercore ISI’s price target indicates a potential upside of 13.65% from the company’s previous close.

A number of other research analysts have also commented on ABT. Sanford C. Bernstein upped their target price on Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Raymond James Financial raised their price objective on shares of Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of Abbott Laboratories in a research note on Monday, December 29th. The Goldman Sachs Group raised their price target on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Finally, William Blair raised Abbott Laboratories to a “strong-buy” rating in a report on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $147.47.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $126.71 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.24. The stock has a market capitalization of $220.32 billion, a P/E ratio of 15.85, a P/E/G ratio of 2.06 and a beta of 0.72. The business has a 50-day moving average of $125.97 and a two-hundred day moving average of $129.54. 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 earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting the consensus estimate of $1.30. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.The firm had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same quarter in the prior year, the company earned $1.21 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, equities research analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Abbott Laboratories

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Trust Co lifted its position in Abbott Laboratories by 109.8% in the third quarter. Charles Schwab Trust Co now owns 29,412 shares of the healthcare product maker’s stock valued at $3,939,000 after buying an additional 15,394 shares during the last quarter. Avanza Fonder AB boosted its stake in shares of Abbott Laboratories by 0.4% during the second quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock worth $22,904,000 after buying an additional 655 shares during the period. Seaview Investment Managers LLC acquired a new position in Abbott Laboratories in the 2nd quarter valued at about $11,068,000. Guggenheim Capital LLC raised its stake in Abbott Laboratories by 13.5% during the 2nd quarter. Guggenheim Capital LLC now owns 98,941 shares of the healthcare product maker’s stock valued at $13,457,000 after acquiring an additional 11,794 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in shares of Abbott Laboratories by 2.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 858,834 shares of the healthcare product maker’s stock valued at $115,032,000 after purchasing an additional 19,966 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

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.