Investors Buy Large Volume of Call Options on Abbott Laboratories (ABT)
Abbott Laboratories (NYSE:ABT) was the recipient of some unusual options trading activity on Friday. Traders purchased 53,906 call options on the company, Stock Ratings News reports. This is an increase of 1,002% compared to the average daily volume of 4,891 call options.
ABT has been the subject of a number of recent research reports. Analysts at Jefferies Group raised their price target on shares of Abbott Laboratories from $48.00 to $49.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Barclays raised their price target on shares of Abbott Laboratories from $38.00 to $40.00 in a research note to investors on Thursday. They now have an “equal weight” rating on the stock. Finally, analysts at Morgan Stanley upgraded shares of Abbott Laboratories from an “equal weight” rating to an “overweight” rating in a research note to investors on Monday. They now have a $45.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $39.14.
Abbott Laboratories (NYSE:ABT) traded up 0.76% on Friday, hitting $39.57. 6,360,501 shares of the company’s stock traded hands. Abbott Laboratories has a one year low of $32.55 and a one year high of $39.69. The stock’s 50-day moving average is $37.90 and its 200-day moving average is $36.07. The company has a market cap of $61.183 billion and a P/E ratio of 20.53.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 16th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.52 by $0.03. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter in the prior year, the company posted $1.30 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. Analysts expect that Abbott Laboratories will post $2.01 EPS for the current fiscal year.
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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