Abbott Laboratories Given Neutral Rating at Morgan Stanley (ABT)
Abbott Laboratories (NYSE:ABT)‘s stock had its “neutral” rating restated by Morgan Stanley in a research note issued on Thursday. They currently have a $46.00 price objective on the stock, up from their previous price objective of $39.00. Morgan Stanley’s price objective would indicate a potential upside of 11.46% from the company’s current price.
The analysts wrote, “We expect ABT to continue to grow earnings in the double-digit range on an organic basis over the next several years. Although ABT has gained additional attractive exposure to emerging markets through recent M&A activities, we need more conviction around the size and duration of these opportunities and the uncertainties around the healthcare industry in general before we can become more positive on the stock.”
A number of other firms have also recently commented on ABT. Analysts at Zacks reiterated a “neutral” rating on shares of Abbott Laboratories in a research note on Friday, May 30th. They now have a $42.00 price target on the stock. Separately, 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. Finally, 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $40.58.
Shares of Abbott Laboratories (NYSE:ABT) opened at 41.27 on Thursday. Abbott Laboratories has a 52-week low of $32.70 and a 52-week high of $41.96. The stock’s 50-day moving average is $40.33 and its 200-day moving average is $39.. The company has a market cap of $61.985 billion and a price-to-earnings ratio of 26.99.
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 $2.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 15th. Investors of record on Tuesday, July 15th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Friday, July 11th.
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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