Abbott Laboratories (ABT) Receives Consensus Rating of “Buy” from Analysts
Abbott Laboratories (NYSE:ABT) has been given an average recommendation of “Buy” by the eighteen analysts that are covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $55.86.
Several research firms recently commented on ABT. Citigroup Inc. began coverage on shares of Abbott Laboratories in a research report on Thursday, August 17th. They issued a “neutral” rating and a $53.00 price target for the company. Jefferies Group LLC reiterated a “buy” rating and issued a $55.00 price target on shares of Abbott Laboratories in a research report on Friday, June 16th. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Friday, September 22nd. Barclays PLC upped their price target on shares of Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, September 28th. Finally, J P Morgan Chase & Co began coverage on shares of Abbott Laboratories in a research report on Friday, October 6th. They issued a “neutral” rating and a $60.00 price target for the company.
In other news, insider Stephen R. Fussell sold 196,550 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total value of $9,729,225.00. Following the completion of the transaction, the insider now owns 221,488 shares in the company, valued at approximately $10,963,656. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Hubert L. Allen sold 4,600 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $50.79, for a total transaction of $233,634.00. Following the completion of the transaction, the insider now owns 105,479 shares of the company’s stock, valued at approximately $5,357,278.41. The disclosure for this sale can be found here. Insiders sold a total of 333,310 shares of company stock valued at $16,857,255 in the last quarter. Insiders own 0.76% of the company’s stock.
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Abbott Laboratories (ABT) opened at 54.44 on Thursday. The company’s 50 day moving average is $52.20 and its 200 day moving average is $48.00. The stock has a market cap of $94.59 billion, a PE ratio of 76.25 and a beta of 1.06. Abbott Laboratories has a one year low of $37.38 and a one year high of $55.43.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The firm had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.63 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. Abbott Laboratories’s revenue for the quarter was up 24.5% on a year-over-year basis. On average, equities research analysts expect that Abbott Laboratories will post $2.49 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.95%. Abbott Laboratories’s dividend payout ratio is presently 149.30%.
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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