Abbott Laboratories (ABT) Upgraded to “Buy” by ValuEngine
Abbott Laboratories (NYSE:ABT) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.
Several other equities analysts have also commented on ABT. Barclays PLC increased their target price on Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, September 28th. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. BMO Capital Markets reissued a “hold” rating and issued a $53.00 target price on shares of Abbott Laboratories in a report on Monday, October 2nd. Stifel Nicolaus increased their target price on Abbott Laboratories from $58.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, October 19th. Finally, BidaskClub lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Sunday, August 6th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $56.81.
Abbott Laboratories (ABT) traded down $0.32 during trading hours on Wednesday, reaching $55.80. The company had a trading volume of 3,552,077 shares, compared to its average volume of 6,639,404. The stock has a market capitalization of $97,130.00, a price-to-earnings ratio of 22.94, a PEG ratio of 2.07 and a beta of 1.55. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72. Abbott Laboratories has a 52-week low of $37.38 and a 52-week high of $56.69.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, beating the consensus estimate of $0.65 by $0.01. The firm had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. Abbott Laboratories’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.59 earnings per share. equities research analysts anticipate that Abbott Laboratories will post 2.49 EPS for the current fiscal year.
In other news, insider Alejandro D. Wellisch sold 2,153 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $55.86, for a total transaction of $120,266.58. Following the completion of the sale, the insider now owns 10,256 shares in the company, valued at $572,900.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jaime Contreras sold 52,700 shares of the stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $51.97, for a total transaction of $2,738,819.00. Following the sale, the insider now owns 58,739 shares of the company’s stock, valued at approximately $3,052,665.83. The disclosure for this sale can be found here. Insiders have sold 308,939 shares of company stock valued at $16,835,789 in the last quarter. Insiders own 0.76% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in ABT. Heritage Trust Co lifted its position in Abbott Laboratories by 10.1% in the second quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after purchasing an additional 200 shares during the period. Tributary Capital Management LLC acquired a new stake in Abbott Laboratories in the third quarter valued at about $106,000. Winfield Associates Inc. lifted its position in Abbott Laboratories by 3.9% in the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after purchasing an additional 89 shares during the period. Thompson Davis & CO. Inc. lifted its position in Abbott Laboratories by 17.7% in the second quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after purchasing an additional 370 shares during the period. Finally, JFS Wealth Advisors LLC lifted its position in Abbott Laboratories by 349.0% in the second quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock valued at $131,000 after purchasing an additional 2,094 shares during the period. Institutional investors and hedge funds own 69.99% of the company’s stock.
About Abbott Laboratories
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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