Brian J. Blaser Sells 450,062 Shares of Abbott Laboratories (ABT) Stock
Abbott Laboratories (NYSE:ABT) insider Brian J. Blaser sold 450,062 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $75.52, for a total value of $33,988,682.24. Following the completion of the sale, the insider now directly owns 295,745 shares of the company’s stock, valued at $22,334,662.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of NYSE ABT traded up $1.35 during mid-day trading on Friday, hitting $76.98. 4,416,775 shares of the stock traded hands, compared to its average volume of 5,915,125. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.61. Abbott Laboratories has a 52 week low of $60.31 and a 52 week high of $80.74. The firm has a market capitalization of $134.54 billion, a PE ratio of 26.73, a P/E/G ratio of 2.14 and a beta of 1.11.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02. Abbott Laboratories had a return on equity of 16.86% and a net margin of 8.53%. The company had revenue of $7.54 billion for the quarter, compared to analyst estimates of $7.49 billion. During the same period in the previous year, the company posted $0.59 earnings per share. The firm’s revenue was up 2.0% on a year-over-year basis. On average, research analysts anticipate that Abbott Laboratories will post 3.22 earnings per share for the current year.
Several research analysts have recently weighed in on ABT shares. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. Bank of America reiterated a “buy” rating and set a $81.00 price target (up previously from $73.00) on shares of Abbott Laboratories in a research note on Thursday, February 7th. Wells Fargo & Co reiterated a “buy” rating on shares of Abbott Laboratories in a research note on Thursday, March 14th. Royal Bank of Canada increased their price target on Abbott Laboratories to $82.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. They noted that the move was a valuation call. Finally, BTIG Research reiterated a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, January 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $80.30.
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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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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