Abbott Laboratories Price Target Increased to $45.00 by Analysts at Leerink Swann (ABT)
Investment analysts at Leerink Swann upped their target price on shares of Abbott Laboratories (NYSE:ABT) from $42.00 to $45.00 in a note issued to investors on Thursday. Leerink Swann’s target price would suggest a potential upside of 7.40% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Raymond James reiterated an “outperform” rating on shares of Abbott Laboratories in a research note on Thursday. They now have a $46.00 price target on the stock, up previously from $44.00. Separately, 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. Finally, 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. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Abbott Laboratories has a consensus rating of “Hold” and a consensus price target of $43.38.
Shares of Abbott Laboratories (NYSE:ABT) traded up 2.07% on Thursday, hitting $41.90. 12,228,332 shares of the company’s stock traded hands. Abbott Laboratories has a one year low of $32.70 and a one year high of $42.99. The stock’s 50-day moving average is $40.61 and its 200-day moving average is $39.12. The company has a market cap of $62.931 billion and a price-to-earnings ratio of 26.85. Abbott Laboratories also was the target of some unusual options trading on Tuesday. Stock traders purchased 13,384 call options on the company. This is an increase of approximately 189% compared to the average volume of 4,624 call options.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results 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 declared a quarterly dividend, which is scheduled for Friday, August 15th. Shareholders 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 2.10%. 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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