Abbott Laboratories Given Outperform Rating at Raymond James (ABT)
Abbott Laboratories (NYSE:ABT)‘s stock had its “outperform” rating reiterated by Raymond James in a research note issued on Thursday. They currently have a $46.00 target price on the stock, up from their previous target price of $44.00. Raymond James’ price objective would indicate a potential upside of 12.06% from the company’s current price.
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 Thursday. They now have a $43.00 price target on the stock. Separately, analysts at Barclays reiterated an “equal weight” rating on shares of Abbott Laboratories in a research note on Thursday. They now have a $43.00 price target on the stock, up previously from $40.00. Finally, analysts at Stifel Nicolaus raised their price target on shares of Abbott Laboratories from $42.00 to $47.00 in a research note on Thursday. They now have a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. Abbott Laboratories presently has an average rating of “Hold” and an average price target of $42.83.
Abbott Laboratories (NYSE:ABT) traded up 2.17% on Thursday, hitting $41.94. 11,353,744 shares of the company’s stock traded hands. Abbott Laboratories has a 52-week low of $32.70 and a 52-week high of $41.96. The stock has a 50-day moving average of $40.55 and a 200-day moving average of $39.10. The company has a market cap of $62.991 billion and a price-to-earnings ratio of 26.85. Abbott Laboratories also was the recipient of unusually large options trading on Tuesday. Stock investors purchased 13,384 call options on the stock. This is an increase of 189% compared to the average volume of 4,624 call options.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, July 16th. The company reported $0.54 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.51 by $0.03. The company had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.53 billion. During the same quarter last year, the company posted $0.46 earnings per share. Abbott Laboratories’s revenue was up .1% compared to the same quarter last year. Analysts expect that Abbott Laboratories will post $2.20 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.14%. The ex-dividend date 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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