Abbott Laboratories Stock Rating Reaffirmed by Zacks (ABT)
Abbott Laboratories (NYSE:ABT)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued to investors on Thursday, AnalystRatings.NET reports. They currently have a $40.00 target price on the stock. Zacks‘ price objective points to a potential upside of 5.07% from the stock’s previous close.
Zacks‘ analyst wrote, “Abbott reported fourth quarter 2013 earnings of $0.58 per share, in line with the Zacks Consensus Estimate. Sales of $5.6 billion were up 0.4% year over year, falling short of the Zacks Consensus Estimate. The year 2013 was challenging for Abbott due to austerity measures in developed markets and weak economic conditions. We were disappointed by the disruption in international markets of the Nutrition business which was one of the fastest growing businesses for Abbott. The disruption is likely to stretch into the first half of 2014. Nevertheless, we believe that Abbott Labs is extremely diversified with its presence in nutrition, diagnostics, generic pharmaceuticals and medical devices markets after having separated its proprietary pharmaceutical business. The Medical Devices and Diagnostics business look promising. We are also impressed by the company’s efforts to return value to shareholders through share repurchases and dividends. We maintain a Neutral recommendation.”
ABT has been the subject of a number of other recent research reports. Analysts at Leerink Swann raised their price target on shares of Abbott Laboratories from $37.00 to $40.00 in a research note to investors on Thursday. Separately, analysts at Cowen and Company raised their price target on shares of Abbott Laboratories from $41.00 to $45.00 in a research note to investors on Friday, January 17th. 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 Friday, January 17th. They now have a $45.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $39.64.
Shares of Abbott Laboratories (NYSE:ABT) traded down 1.68% during mid-day trading on Thursday, hitting $37.43. 10,207,305 shares of the company’s stock traded hands. Abbott Laboratories has a 1-year low of $32.58 and a 1-year high of $39.86. The stock’s 50-day moving average is $38.17 and its 200-day moving average is $36.32. The company has a market cap of $57.874 billion and a price-to-earnings ratio of 19.90.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 22nd. The company reported $0.58 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.58. The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the prior year, the company posted $1.51 earnings per share. The company’s quarterly revenue was up .4% 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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