Abbott Laboratories Stock Rating Reaffirmed by Zacks (ABT)
Abbott Laboratories (NYSE:ABT)‘s stock had its “neutral” rating restated by Zacks in a research note issued to investors on Friday. They currently have a $42.00 target price on the stock. Zacks‘s target price would suggest a potential upside of 4.97% from the company’s current price.
Zacks’ analyst wrote, “Abbott reported first quarter 2014 earnings of $0.41 per share, above the Zacks Consensus Estimate of $0.35. However, sales of $5.2 billion were short of the Zacks Consensus Estimate. The supply constraints in the EPD segment continue to pull down sales growth of the division. 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 expected to stretch into the first half of 2014. Nevertheless, Abbott plans to launch a number of new products globally in 2014 to recapture its lost market share in the nutrition business. We believe that Abbott is extremely diversified with its presence in nutrition, diagnostics, generic pharmaceuticals and medical devices markets. The second half of 2014 should see improved performance by the company. Hence, we maintain our Neutral recommendation.”
Several other analysts have also recently commented on the stock. Analysts at Raymond James upgraded shares of Abbott Laboratories from a “market perform” rating to an “outperform” rating in a research note on Monday, May 19th. Separately, analysts at Credit Suisse upgraded shares of Abbott Laboratories from a “neutral” rating to an “outperform” rating in a research note on Monday, May 19th. They now have a $46.00 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “sell” rating on shares of Abbott Laboratories in a research note on Monday, April 21st. They now have a $35.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $40.07.
Shares of Abbott Laboratories (NYSE:ABT) traded up 1.04% on Friday, hitting $40.01. 5,893,397 shares of the company’s stock traded hands. 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 $38.83 and its 200-day moving average is $38.39. The company has a market cap of $60.093 billion and a P/E ratio of 25.90.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, April 16th. The company reported $0.41 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.42 earnings per share. Abbott Laboratories’s revenue was down 2.5% compared to the same quarter last year. On average, analysts predict that Abbott Laboratories will post $2.20 earnings per share 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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