Abbott Laboratories Short Interest Down 22.2% in July (ABT)
Shares of Abbott Laboratories (NYSE:ABT) were the target of a large decrease in short interest in July. As of July 15th, there was short interest totalling 9,185,857 shares, a decrease of 22.2% from the June 30th total of 11,812,501 shares, AR Network reports. Based on an average daily volume of 5,420,893 shares, the days-to-cover ratio is currently 1.7 days. Currently, 0.6% of the company’s stock are sold short.
A number of analysts have recently weighed in on ABT shares. Analysts at BMO Capital Markets raised their price target on shares of Abbott Laboratories from $45.00 to $47.00 in a research note on Thursday, July 17th. They now have an “outperform” rating on the stock. Separately, analysts at Leerink Swann raised their price target on shares of Abbott Laboratories from $42.00 to $45.00 in a research note on Thursday, July 17th. Finally, analysts at Raymond James reiterated an “outperform” rating on shares of Abbott Laboratories in a research note on Thursday, July 17th. They now have a $46.00 price target on the stock, up previously from $44.00. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Abbott Laboratories has a consensus rating of “Hold” and a consensus target price of $43.38.
Shares of Abbott Laboratories (NYSE:ABT) opened at 42.39 on Tuesday. Abbott Laboratories has a one year low of $32.70 and a one year high of $43.27. The stock’s 50-day moving average is $41.59 and its 200-day moving average is $39.44. The company has a market cap of $63.667 billion and a P/E ratio of 27.35.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, July 16th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.46 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. Analysts expect that Abbott Laboratories will post $2.23 EPS 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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