Abbott Laboratories PT Lowered to $40.00 (ABT)
Equities researchers at Stifel Nicolaus dropped their price target on shares of Abbott Laboratories (NYSE:ABT) from $44.00 to $40.00 in a research report issued on Monday, AnalystRatings.NET reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 19.19% from the company’s current price.
A number of other firms have also recently commented on ABT. Analysts at Jefferies Group reiterated a “buy” rating on shares of Abbott Laboratories in a research note to investors on Wednesday, September 4th. They now have a $44.00 price target on the stock, down previously from $46.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Abbott Laboratories in a research note to investors on Friday, August 30th. They now have a $35.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. Abbott Laboratories currently has an average rating of “Hold” and a consensus price target of $37.85.
Abbott Laboratories (NYSE:ABT) opened at 33.56 on Monday. Abbott Laboratories has a 52 week low of $30.0451 and a 52 week high of $38.77. The stock’s 50-day moving average is $34.22 and its 200-day moving average is $35.71. The company has a market cap of $52.156 billion and a price-to-earnings ratio of 13.39.
Abbott Laboratories (NYSE:ABT) last released its earnings data on Wednesday, July 17th. The company reported $0.46 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.44 by $0.02. The company had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.53 billion. During the same quarter last year, the company posted $1.23 earnings per share. Abbott Laboratories’s revenue was up 2.5% compared to the same quarter last year. Analysts expect that Abbott Laboratories will post $2.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Thursday, October 10th.
Abbott Laboratories (NYSE:ABT), is engaged in the discovery, development, manufacture, and sale of a portfolio of science-based health care products.
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