Abbott Laboratories Sees Large Growth in Short Interest (ABT)
Abbott Laboratories (NYSE:ABT) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 12,328,853 shares, a growth of 34.2% from the July 15th total of 9,185,857 shares, StockRatingsNetwork.com reports. Approximately 0.8% of the shares of the stock are sold short. Based on an average trading volume of 6,092,275 shares, the days-to-cover ratio is presently 2.0 days.
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 investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $43.38.
Shares of Abbott Laboratories (NYSE:ABT) opened at 42.33 on Friday. Abbott Laboratories has a 52 week low of $32.70 and a 52 week high of $43.27. The stock’s 50-day moving average is $41.91 and its 200-day moving average is $39.63. The company has a market cap of $63.652 billion and a price-to-earnings ratio of 27.43.
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. The company’s revenue for the quarter was up .1% on a year-over-year basis. On average, analysts predict that Abbott Laboratories will post $2.23 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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