Abbott Laboratories (NYSE:ABT) Stock Price Expected to Rise, Barclays Analyst Says

Abbott Laboratories (NYSE:ABTGet Free Report) had its price objective lifted by Barclays from $143.00 to $149.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the healthcare product maker’s stock. Barclays‘s price target would suggest a potential upside of 26.65% from the stock’s current price.

Several other research analysts have also issued reports on ABT. Jefferies Financial Group increased their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Morgan Stanley increased their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Citigroup boosted their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Raymond James reaffirmed a “buy” rating and set a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Finally, Piper Sandler increased their price target on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $130.07.

Get Our Latest Stock Analysis on ABT

Abbott Laboratories Stock Down 0.8 %

ABT stock opened at $117.65 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The company has a 50-day moving average of $115.03 and a two-hundred day moving average of $108.95. The stock has a market capitalization of $204.06 billion, a price-to-earnings ratio of 35.76, a price-to-earnings-growth ratio of 2.79 and a beta of 0.72. Abbott Laboratories has a 52-week low of $92.43 and a 52-week high of $121.64.

Abbott Laboratories (NYSE:ABTGet Free Report) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The company had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same period last year, the firm earned $1.14 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current year.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.47% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Abbott Laboratories

Several institutional investors and hedge funds have recently modified their holdings of ABT. Unique Wealth Strategies LLC acquired a new position in shares of Abbott Laboratories during the second quarter worth about $28,000. Future Financial Wealth Managment LLC acquired a new stake in Abbott Laboratories during the 3rd quarter valued at $31,000. Valued Wealth Advisors LLC lifted its stake in shares of Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after buying an additional 127 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Abbott Laboratories during the 2nd quarter worth about $32,000. Finally, Highline Wealth Partners LLC bought a new position in Abbott Laboratories in the 3rd quarter valued at about $37,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Company Profile

(Get Free Report)

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.

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