Abbott Laboratories (NYSE:ABT) had its price target raised by analysts at Stifel Nicolaus from $58.00 to $63.00 in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the healthcare product maker’s stock. Stifel Nicolaus’ target price indicates a potential upside of 11.86% from the stock’s current price.

Other analysts also recently issued reports about the stock. Citigroup Inc. assumed coverage on shares of Abbott Laboratories in a report on Thursday, August 17th. They issued a “neutral” rating and a $53.00 price objective on the stock. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Friday, September 22nd. Barclays PLC upped their price objective on shares of Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, September 28th. J P Morgan Chase & Co assumed coverage on shares of Abbott Laboratories in a report on Friday, October 6th. They issued a “neutral” rating and a $60.00 price objective on the stock. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Abbott Laboratories in a report on Thursday. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $56.81.

Abbott Laboratories (NYSE:ABT) traded up 0.57% during trading on Thursday, hitting $56.32. 5,528,681 shares of the company were exchanged. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $56.60. The company has a market capitalization of $97.85 billion, a price-to-earnings ratio of 88.00 and a beta of 1.06. The stock’s 50-day moving average is $53.27 and its 200-day moving average is $48.51.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 14.50%. The business had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. During the same quarter in the prior year, the business posted $0.59 EPS. Abbott Laboratories’s revenue for the quarter was up 28.8% compared to the same quarter last year. Equities research analysts anticipate 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 the firm’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Hubert L. Allen sold 4,600 shares of the firm’s stock in a transaction that occurred on 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 directly 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. In the last three months, insiders sold 333,310 shares of company stock valued at $16,857,255. Insiders own 0.76% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ABT. Waldron LP lifted its stake in Abbott Laboratories by 41.0% in the first quarter. Waldron LP now owns 10,042 shares of the healthcare product maker’s stock worth $442,000 after acquiring an additional 2,922 shares during the last quarter. Meyer Handelman Co. lifted its stake in Abbott Laboratories by 5.1% in the first quarter. Meyer Handelman Co. now owns 92,440 shares of the healthcare product maker’s stock worth $4,105,000 after acquiring an additional 4,500 shares during the last quarter. iAB Financial Bank lifted its stake in Abbott Laboratories by 0.4% in the first quarter. iAB Financial Bank now owns 27,050 shares of the healthcare product maker’s stock worth $1,201,000 after acquiring an additional 100 shares during the last quarter. Moloney Securities Asset Management LLC lifted its stake in Abbott Laboratories by 6.1% in the first quarter. Moloney Securities Asset Management LLC now owns 26,280 shares of the healthcare product maker’s stock worth $1,167,000 after acquiring an additional 1,517 shares during the last quarter. Finally, Whittier Trust Co. lifted its stake in Abbott Laboratories by 1.7% in the first quarter. Whittier Trust Co. now owns 401,048 shares of the healthcare product maker’s stock worth $17,807,000 after acquiring an additional 6,751 shares during the last quarter. 71.45% of the stock is owned by institutional investors and hedge funds.

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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