Abbott Laboratories (NYSE:ABT) had its price objective hoisted by equities researchers at Raymond James from $72.00 to $77.00 in a report issued on Monday. The brokerage currently has an “outperform” rating on the healthcare product maker’s stock. Raymond James’ target price indicates a potential upside of 11.51% from the company’s previous close.

A number of other brokerages have also recently issued reports on ABT. Stifel Nicolaus increased their target price on shares of Abbott Laboratories from $71.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, July 19th. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Monday, August 6th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $70.00 target price on shares of Abbott Laboratories in a report on Thursday, July 19th. Sanford C. Bernstein started coverage on shares of Abbott Laboratories in a report on Wednesday, June 27th. They issued an “outperform” rating and a $73.00 target price for the company. Finally, Wells Fargo & Co increased their target price on shares of Abbott Laboratories from $77.00 to $80.00 and gave the company an “outperform” rating in a report on Monday. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $71.11.

Shares of NYSE:ABT opened at $69.05 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.58 and a quick ratio of 1.16. The stock has a market capitalization of $121.14 billion, a P/E ratio of 27.62, a PEG ratio of 1.93 and a beta of 1.49. Abbott Laboratories has a 52 week low of $51.50 and a 52 week high of $69.25.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, July 18th. The healthcare product maker reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. The firm had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.71 billion. Abbott Laboratories had a net margin of 3.13% and a return on equity of 15.30%. The firm’s revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.62 earnings per share. sell-side analysts anticipate that Abbott Laboratories will post 2.88 earnings per share for the current fiscal year.

In other news, EVP Brian J. Blaser sold 15,100 shares of the firm’s stock in a transaction that occurred on Tuesday, July 24th. The shares were sold at an average price of $63.96, for a total transaction of $965,796.00. Following the completion of the transaction, the executive vice president now directly owns 151,718 shares of the company’s stock, valued at approximately $9,703,883.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jaime Contreras sold 64,268 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $66.84, for a total transaction of $4,295,673.12. Following the transaction, the senior vice president now directly owns 125,471 shares of the company’s stock, valued at $8,386,481.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,589 shares of company stock valued at $9,998,590. Corporate insiders own 0.74% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. City Holding Co. increased its stake in shares of Abbott Laboratories by 1.6% during the 2nd quarter. City Holding Co. now owns 50,654 shares of the healthcare product maker’s stock worth $3,089,000 after purchasing an additional 782 shares in the last quarter. Moody National Bank Trust Division boosted its position in Abbott Laboratories by 7.3% during the second quarter. Moody National Bank Trust Division now owns 11,757 shares of the healthcare product maker’s stock worth $717,000 after acquiring an additional 795 shares during the last quarter. Sullivan Bruyette Speros & Blaney LLC boosted its position in Abbott Laboratories by 4.2% during the second quarter. Sullivan Bruyette Speros & Blaney LLC now owns 19,760 shares of the healthcare product maker’s stock worth $1,205,000 after acquiring an additional 796 shares during the last quarter. M Holdings Securities Inc. boosted its position in Abbott Laboratories by 7.4% during the second quarter. M Holdings Securities Inc. now owns 11,538 shares of the healthcare product maker’s stock worth $704,000 after acquiring an additional 796 shares during the last quarter. Finally, North Star Asset Management Inc. boosted its position in Abbott Laboratories by 0.3% during the second quarter. North Star Asset Management Inc. now owns 275,593 shares of the healthcare product maker’s stock worth $16,808,000 after acquiring an additional 828 shares during the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Company Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

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Analyst Recommendations for Abbott Laboratories (NYSE:ABT)

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