A number of research firms have changed their ratings and price targets for Abbott Laboratories (NYSE: ABT):

  • 10/3/2017 – Abbott Laboratories had its “buy” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $55.00 price target on the stock.
  • 10/2/2017 – Abbott Laboratories had its “hold” rating reaffirmed by analysts at BMO Capital Markets. They now have a $53.00 price target on the stock.
  • 9/28/2017 – Abbott Laboratories had its price target raised by analysts at Wells Fargo & Company from $57.00 to $64.00. They now have an “outperform” rating on the stock.
  • 9/28/2017 – Abbott Laboratories had its price target raised by analysts at Barclays PLC from $57.00 to $60.00. They now have an “overweight” rating on the stock.
  • 9/26/2017 – Abbott Laboratories was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “In the past three months, Abbott has been trading above the broader industry. Abbott’s second-quarter 2017 performance was promising. The raised guidance is indicative of brighter prospects. In fact, the guidance raise was backed by the company’s expectations to gain more synergies from the St. Jude merger. Overall, we look forward to Abbott’s plans to expand in core therapeutic areas. Recently, its FreeStyle Libre received the reimbursement approval in the United Kingdom as well as Health Canadian License. Also, the company has received FDA approval for Full MagLev HeartMate 3 Left Ventricular Assist Device recently. On the flip side, Abbott’s sluggish pediatric business in China continues to dent growth. Management is also concerned about the economic problems in Venezuela that are expected to remain unresolved for some time. Meanwhile, we await the closing of the Alere buyout, slated for the end of third quarter.”
  • 9/24/2017 – Abbott Laboratories had its “buy” rating reaffirmed by analysts at Cowen and Company.
  • 9/22/2017 – Abbott Laboratories was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $58.00 price target on the stock. According to Zacks, “In the past three months, Abbott has been trading above the broader industry. Abbott’s second-quarter 2017 performance was promising. The raised guidance is indicative of brighter prospects. In fact, the guidance raise was backed by the company’s expectations to gain more synergies from the St. Jude merger. Overall, we look forward to Abbott’s plans to expand in core therapeutic areas. Recently, its FreeStyle Libre received the reimbursement approval in the United Kingdom as well as Health Canadian License. Also, the company has received FDA approval for Full MagLev HeartMate 3 Left Ventricular Assist Device recently. On the flip side, Abbott’s sluggish pediatric business in China continues to dent growth. Management is also concerned about the economic problems in Venezuela that are expected to remain unresolved for some time. Meanwhile, we await the closing of the Alere buyout, slated for the end of third quarter.”
  • 9/1/2017 – Abbott Laboratories had its “hold” rating reaffirmed by analysts at BMO Capital Markets. They now have a $53.00 price target on the stock.
  • 8/17/2017 – Abbott Laboratories had its “buy” rating reaffirmed by analysts at Cowen and Company. They now have a $55.00 price target on the stock.
  • 8/17/2017 – Abbott Laboratories is now covered by analysts at Citigroup Inc.. They set a “neutral” rating and a $53.00 price target on the stock.
  • 8/6/2017 – Abbott Laboratories was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.

Shares of Abbott Laboratories (ABT) opened at 53.75 on Wednesday. The stock has a 50 day moving average price of $51.24 and a 200 day moving average price of $47.59. Abbott Laboratories has a 52-week low of $37.38 and a 52-week high of $54.80. The company has a market capitalization of $93.39 billion, a PE ratio of 75.28 and a beta of 1.06.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The company had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.63 billion. During the same period last year, the firm posted $0.55 earnings per share. The business’s revenue was up 24.5% on a year-over-year basis. On average, analysts predict that Abbott Laboratories will post $2.49 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 149.30%.

In other Abbott Laboratories news, 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 transaction of $750,000.00. Following the completion of the transaction, the insider now directly owns 143,154 shares of the company’s stock, valued at $7,157,700. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stephen R. Fussell sold 196,550 shares of Abbott Laboratories stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $49.50, for a total transaction of $9,729,225.00. Following the transaction, the insider now directly owns 221,488 shares of the company’s stock, valued at $10,963,656. The disclosure for this sale can be found here. In the last 90 days, insiders sold 333,310 shares of company stock worth $16,857,255. 0.76% of the stock is owned by company insiders.

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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