Morningstar Issues AA- Credit Rating to Abbott Laboratories (ABT)
Abbott Laboratories (NYSE:ABT) has earned an “AA-” credit rating from analysts at Morningstar. The credit rating agency’s “AA-” rating indicates that the company is a very-low default risk. They also issued a negative credit outlook for the company and gave their stock a three star rating.
A number of other analysts have also recently weighed in on ABT. 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 given a buy rating to the stock. Abbott Laboratories presently has an average rating of “Hold” and a consensus price target of $43.38.
Shares of Abbott Laboratories (NYSE:ABT) traded down 0.26% on Monday, hitting $42.24. 4,384,357 shares of the company’s stock traded hands. Abbott Laboratories has a one year low of $32.70 and a one year high of $43.27. The stock has a 50-day moving average of $42.24 and a 200-day moving average of $40.09. The company has a market cap of $63.516 billion and a price-to-earnings ratio of 27.55.
Abbott Laboratories (NYSE:ABT) last released its earnings data on Wednesday, July 16th. The company reported $0.54 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.46 earnings per share. The company’s quarterly revenue 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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