Citigroup Inc. began coverage on shares of Abbott Laboratories (NYSE:ABT) in a report released on Thursday, MarketBeat.com reports. The brokerage set a “neutral” rating and a $53.00 price target on the healthcare product maker’s stock. Citigroup Inc.’s price objective indicates a potential upside of 6.40% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Cowen and Company reiterated a “buy” rating and set a $55.00 price objective on shares of Abbott Laboratories in a research note on Thursday. BidaskClub lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Sunday, August 6th. Jefferies Group LLC reissued a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a report on Thursday, August 3rd. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a report on Friday, July 21st. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Abbott Laboratories presently has a consensus rating of “Buy” and an average target price of $52.14.

Shares of Abbott Laboratories (NYSE:ABT) traded down 0.48% during mid-day trading on Thursday, hitting $49.57. 1,798,216 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $49.12 and a 200-day moving average price of $45.87. Abbott Laboratories has a 52 week low of $37.38 and a 52 week high of $51.13. The company has a market capitalization of $86.13 billion, a price-to-earnings ratio of 69.43 and a beta of 1.07.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The firm had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.63 billion. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The business’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 EPS. On average, equities analysts anticipate that Abbott Laboratories will post $2.49 EPS for the current year.

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In other news, insider Hubert L. Allen sold 4,600 shares of Abbott Laboratories stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $50.79, for a total value of $233,634.00. Following the completion of the transaction, the insider now directly owns 105,479 shares in the company, valued at $5,357,278.41. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brian J. Blaser sold 15,000 shares of Abbott Laboratories stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $50.00, for a total value of $750,000.00. Following the completion of the transaction, the insider now owns 143,154 shares of the company’s stock, valued at $7,157,700. The disclosure for this sale can be found here. Insiders have sold 218,702 shares of company stock worth $10,149,733 over the last quarter. 0.76% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in ABT. National Pension Service boosted its position in Abbott Laboratories by 17.1% in the first quarter. National Pension Service now owns 1,184,114 shares of the healthcare product maker’s stock valued at $52,752,000 after buying an additional 173,031 shares during the last quarter. Country Club Trust Company n.a. boosted its position in Abbott Laboratories by 7.7% in the first quarter. Country Club Trust Company n.a. now owns 7,282 shares of the healthcare product maker’s stock worth $323,000 after buying an additional 518 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Abbott Laboratories by 14.6% in the first quarter. Quadrant Capital Group LLC now owns 10,618 shares of the healthcare product maker’s stock worth $458,000 after buying an additional 1,351 shares during the last quarter. Koshinski Asset Management Inc. boosted its position in Abbott Laboratories by 30.7% in the first quarter. Koshinski Asset Management Inc. now owns 7,457 shares of the healthcare product maker’s stock worth $331,000 after buying an additional 1,751 shares during the last quarter. Finally, Lynch & Associates IN boosted its position in Abbott Laboratories by 8.0% in the first quarter. Lynch & Associates IN now owns 53,985 shares of the healthcare product maker’s stock worth $2,397,000 after buying an additional 3,983 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

About Abbott Laboratories

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

Analyst Recommendations for Abbott Laboratories (NYSE:ABT)

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