Abbott Laboratories (ABT) Receives Average Recommendation of “Buy” from Analysts
Shares of Abbott Laboratories (NYSE:ABT) have earned a consensus recommendation of “Buy” from the seventeen analysts that are covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $53.45.
Several equities analysts have weighed in on ABT shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $58.00 target price on shares of Abbott Laboratories in a research report on Thursday, August 3rd. BMO Capital Markets reaffirmed a “hold” rating and issued a $53.00 target price on shares of Abbott Laboratories in a research report on Friday, September 1st. Cowen and Company reaffirmed a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a research report on Thursday, August 17th. TheStreet raised Abbott Laboratories from a “c+” rating to a “b” rating in a research report on Monday, July 3rd. Finally, Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, May 31st.
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Abbott Laboratories (NYSE ABT) opened at 51.76 on Friday. Abbott Laboratories has a 52-week low of $37.38 and a 52-week high of $52.60. The firm’s 50-day moving average is $50.01 and its 200-day moving average is $46.93. The company has a market cap of $89.93 billion, a PE ratio of 72.49 and a beta of 1.06.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.63 billion. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The company’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period last year, the company earned $0.55 EPS. On average, equities research analysts anticipate that Abbott Laboratories will post $2.49 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, October 12th. Abbott Laboratories’s payout ratio is 149.30%.
In related news, insider Brian J. Blaser sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $50.00, for a total transaction of $750,000.00. Following the completion of the sale, the insider now owns 143,154 shares in the company, valued at $7,157,700. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen R. Fussell sold 196,550 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $49.50, for a total value of $9,729,225.00. Following the sale, the insider now owns 221,488 shares of the company’s stock, valued at approximately $10,963,656. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 218,150 shares of company stock valued at $10,811,179. 0.76% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of ABT. Perkins Capital Management Inc. lifted its stake in Abbott Laboratories by 197.6% during the first quarter. Perkins Capital Management Inc. now owns 83,546 shares of the healthcare product maker’s stock worth $3,710,000 after purchasing an additional 55,471 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Abbott Laboratories by 33.5% during the first quarter. Nisa Investment Advisors LLC now owns 687,051 shares of the healthcare product maker’s stock worth $30,509,000 after purchasing an additional 172,596 shares during the last quarter. Cypress Capital Management LLC WY lifted its stake in Abbott Laboratories by 37.9% during the first quarter. Cypress Capital Management LLC WY now owns 2,531 shares of the healthcare product maker’s stock worth $112,000 after purchasing an additional 696 shares during the last quarter. Trust Department MB Financial Bank N A lifted its stake in Abbott Laboratories by 1.1% during the first quarter. Trust Department MB Financial Bank N A now owns 29,783 shares of the healthcare product maker’s stock worth $1,322,000 after purchasing an additional 320 shares during the last quarter. Finally, Feltz Wealth PLAN Inc. purchased a new stake in Abbott Laboratories during the first quarter worth approximately $112,000. Hedge funds and other institutional investors own 71.66% of the company’s stock.
Abbott Laboratories Company Profile
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.
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