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.

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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.

Analyst Recommendations for Abbott Laboratories (NYSE:ABT)

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