Abbott Laboratories (ABT) Given Market Perform Rating at BMO Capital Markets
Abbott Laboratories (NYSE:ABT)‘s stock had its “market perform” rating reiterated by investment analysts at BMO Capital Markets in a research report issued on Thursday.
Several other brokerages have also recently weighed in on ABT. Jefferies Group LLC reiterated a “buy” rating and issued a $58.00 price objective on shares of Abbott Laboratories in a research note on Thursday, August 3rd. Stifel Nicolaus raised their target price on shares of Abbott Laboratories from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday. Cowen and Company restated a “buy” rating and set a $55.00 target price on shares of Abbott Laboratories in a research note on Thursday, August 17th. Royal Bank Of Canada restated a “buy” rating and set a $55.00 target price on shares of Abbott Laboratories in a research note on Tuesday, October 3rd. Finally, TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b” rating in a research note on Monday, July 3rd. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $56.81.
Abbott Laboratories (ABT) traded up 0.296% during mid-day trading on Thursday, hitting $55.935. 3,097,825 shares of the stock traded hands. The stock has a market cap of $97.18 billion, a price-to-earnings ratio of 78.340 and a beta of 1.06. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $56.60. The company’s 50 day moving average price is $52.94 and its 200-day moving average price is $48.37.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The firm had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.72 billion. During the same quarter in the prior year, the business earned $0.59 EPS. The business’s quarterly revenue was up 28.8% on a year-over-year basis. Analysts predict that Abbott Laboratories will post $2.50 earnings per share for the current year.
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In other news, insider Brian J. Blaser sold 15,000 shares of Abbott Laboratories stock in a transaction that occurred 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 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 at this link. Also, insider Stephen R. Fussell sold 196,550 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total transaction of $9,729,225.00. Following the completion of 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 quarter, insiders have sold 333,310 shares of company stock worth $16,857,255. Company insiders own 0.76% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. McQueen Ball & Associates Inc. grew its holdings in shares of Abbott Laboratories by 2.8% in the third quarter. McQueen Ball & Associates Inc. now owns 47,791 shares of the healthcare product maker’s stock valued at $2,550,000 after purchasing an additional 1,311 shares in the last quarter. Curbstone Financial Management Corp grew its holdings in shares of Abbott Laboratories by 95.2% in the third quarter. Curbstone Financial Management Corp now owns 39,728 shares of the healthcare product maker’s stock valued at $2,120,000 after purchasing an additional 19,371 shares in the last quarter. Park National Corp OH grew its holdings in shares of Abbott Laboratories by 0.4% in the third quarter. Park National Corp OH now owns 602,236 shares of the healthcare product maker’s stock valued at $32,135,000 after purchasing an additional 2,236 shares in the last quarter. MPS Loria Financial Planners LLC purchased a new position in shares of Abbott Laboratories in the second quarter valued at $1,038,000. Finally, Frontier Investment Mgmt Co. grew its holdings in shares of Abbott Laboratories by 18.8% in the second quarter. Frontier Investment Mgmt Co. now owns 10,095 shares of the healthcare product maker’s stock valued at $491,000 after purchasing an additional 1,598 shares in the last quarter. 71.45% of the stock is owned by hedge funds and other institutional investors.
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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