Abbott Laboratories Given “Sell” Rating at Citigroup Inc. (ABT)
Abbott Laboratories (NYSE:ABT)‘s stock had its “sell” rating reaffirmed by analysts at Citigroup Inc. in a research report issued to clients and investors on Monday, American Banking & Market News reports. They currently have a $35.00 target price on the stock. Citigroup Inc.’s target price indicates a potential downside of 9.33% from the stock’s previous close.
Abbott Laboratories (NYSE:ABT) traded down 0.28% on Monday, hitting $38.60. The stock had a trading volume of 6,220,028 shares. Abbott Laboratories has a 52 week low of $32.70 and a 52 week high of $40.49. The stock’s 50-day moving average is $38.73 and its 200-day moving average is $37.85. The company has a market cap of $59.562 billion and a price-to-earnings ratio of 25.33. Abbott Laboratories also was the recipient of a large decline in short interest during the month of January. As of March 31st, there was short interest totalling 12,603,745 shares, a decline of 25.8% from the March 14th total of 16,981,772 shares. Based on an average daily trading volume, of 9,290,714 shares, the short-interest ratio is presently 1.4 days. Approximately 0.8% of the company’s stock are short sold.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 16th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.05. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. Analysts expect that Abbott Laboratories will post $2.20 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Leerink Swann reiterated a “market perform” rating on shares of Abbott Laboratories in a research note on Thursday, April 17th. They now have a $42.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Abbott Laboratories in a research note on Thursday, April 17th. They now have a $40.00 price target on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Abbott Laboratories in a research note on Monday, April 14th. They now have a $46.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. Abbott Laboratories currently has an average rating of “Hold” and a consensus target price of $39.14.
Abbott Laboratories (NYSE:ABT) is engaged in the discovery, development, manufacture, and sale of a portfolio of science-based health care products.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.