Abbott Laboratories (ABT) Given Consensus Recommendation of “Buy” by Analysts

Abbott Laboratories (NYSE:ABT) has been given a consensus rating of “Buy” by the nineteen brokerages that are covering the company, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $58.42.

A number of equities research analysts recently commented on the company. Cowen reiterated a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a research report on Thursday, August 17th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Abbott Laboratories in a research note on Thursday, October 19th. Citigroup started coverage on Abbott Laboratories in a research note on Thursday, August 17th. They set a “neutral” rating and a $53.00 target price for the company. Jefferies Group reaffirmed a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a research note on Thursday, August 3rd. Finally, Barclays upped their target price on Abbott Laboratories from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, September 28th.

In related news, insider Daniel Gesua Sive Salvadori sold 62,460 shares of the stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $52.95, for a total value of $3,307,257.00. Following the completion of the transaction, the insider now directly owns 113,426 shares of the company’s stock, valued at approximately $6,005,906.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jaime Contreras sold 52,700 shares of the stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $51.97, for a total value of $2,738,819.00. Following the completion of the transaction, the insider now directly owns 58,739 shares of the company’s stock, valued at $3,052,665.83. The disclosure for this sale can be found here. Over the last three months, insiders sold 308,939 shares of company stock valued at $16,835,789. 0.76% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the business. Tributary Capital Management LLC purchased a new position in Abbott Laboratories in the third quarter valued at about $106,000. Heritage Trust Co raised its holdings in shares of Abbott Laboratories by 10.1% during the second quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after acquiring an additional 200 shares in the last quarter. Winfield Associates Inc. raised its holdings in shares of Abbott Laboratories by 3.9% during the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock worth $116,000 after acquiring an additional 89 shares in the last quarter. Thompson Davis & CO. Inc. raised its holdings in shares of Abbott Laboratories by 17.7% during the second quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock worth $120,000 after acquiring an additional 370 shares in the last quarter. Finally, JFS Wealth Advisors LLC raised its holdings in shares of Abbott Laboratories by 349.0% during the second quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock worth $131,000 after acquiring an additional 2,094 shares in the last quarter. Institutional investors own 71.10% of the company’s stock.

Shares of Abbott Laboratories (ABT) traded up $0.79 on Friday, reaching $56.37. 10,086,200 shares of the company’s stock were exchanged, compared to its average volume of 6,629,339. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. Abbott Laboratories has a twelve month low of $37.38 and a twelve month high of $56.69. The stock has a market cap of $97,440.00, a price-to-earnings ratio of 23.25, a P/E/G ratio of 2.10 and a beta of 1.55.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. The business had revenue of $6.83 billion during the quarter, compared to analyst estimates of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The company’s revenue was up 28.8% on a year-over-year basis. During the same period last year, the firm posted $0.59 EPS. equities research analysts expect that Abbott Laboratories will post 2.49 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 13th were paid a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 1.88%. The ex-dividend date was Thursday, October 12th. Abbott Laboratories’s dividend payout ratio is currently 87.60%.

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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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