Analysts Set Abbott Laboratories (NYSE:ABT) Target Price at $51.83

Shares of Abbott Laboratories (NYSE:ABT) have been given a consensus recommendation of “Buy” by the seventeen research firms that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $53.18.

ABT has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Tuesday, May 16th. TheStreet cut shares of Abbott Laboratories from a “b” rating to a “c+” rating in a report on Thursday, May 18th. Barclays PLC raised their target price on shares of Abbott Laboratories from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, April 20th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $42.00 price objective on shares of Abbott Laboratories in a research note on Wednesday, April 19th. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $48.00 price objective on shares of Abbott Laboratories in a research note on Saturday, April 22nd.

In other Abbott Laboratories news, insider Jared Watkin sold 552 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $47.97, for a total value of $26,479.44. Following the sale, the insider now directly owns 47,090 shares in the company, valued at approximately $2,258,907.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen R. Fussell sold 196,550 shares of the firm’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $46.00, for a total transaction of $9,041,300.00. Following the completion of the sale, the insider now owns 221,488 shares in the company, valued at $10,188,448. The disclosure for this sale can be found here. Insiders sold a total of 216,702 shares of company stock worth $10,051,413 in the last quarter. Insiders own 0.76% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Baltimore Washington Financial Advisors Inc. bought a new stake in Abbott Laboratories during the fourth quarter valued at about $4,680,000. Winfield Associates Inc. raised its stake 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 buying an additional 89 shares in the last quarter. Cypress Capital Management LLC WY raised its stake in Abbott Laboratories by 37.9% in the first quarter. Cypress Capital Management LLC WY now owns 2,531 shares of the healthcare product maker’s stock valued at $112,000 after buying an additional 696 shares in the last quarter. Feltz Wealth PLAN Inc. bought a new stake in Abbott Laboratories during the first quarter valued at about $112,000. Finally, V Wealth Management LLC bought a new stake in Abbott Laboratories during the second quarter valued at about $127,000. Institutional investors own 71.08% of the company’s stock.

Shares of Abbott Laboratories (NYSE:ABT) traded down 1.00% on Tuesday, reaching $49.61. The company had a trading volume of 5,688,266 shares. Abbott Laboratories has a 52 week low of $37.38 and a 52 week high of $51.13. The company has a 50 day moving average of $48.86 and a 200-day moving average of $45.10. The company has a market capitalization of $86.09 billion, a P/E ratio of 69.48 and a beta of 1.07.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. The business had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.63 billion. Abbott Laboratories had a net margin of 4.96% and a return on equity of 15.53%. The business’s revenue was up 24.5% on a year-over-year basis. During the same period last year, the firm posted $0.55 earnings per share. Analysts predict that Abbott Laboratories will post $2.49 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $1.06 annualized dividend and a yield of 2.14%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 149.30%.

COPYRIGHT VIOLATION NOTICE: “Analysts Set Abbott Laboratories (NYSE:ABT) Target Price at $51.83” was originally reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this report on another website, it was copied illegally and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this report can be accessed at https://www.chaffeybreeze.com/2017/07/29/abbott-laboratories-nyseabt-receives-consensus-rating-of-buy-from-analysts-updated-updated-updated.html.

Abbott Laboratories Company Profile

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)

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply