Abbott Laboratories (NYSE:ABT) has earned a consensus rating of “Buy” from the twenty-one ratings firms that are currently covering the firm, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $60.47.

A number of research firms have recently commented on ABT. Leerink Swann reissued a “market perform” rating on shares of Abbott Laboratories in a research report on Friday. BMO Capital Markets reissued a “market perform” rating on shares of Abbott Laboratories in a research report on Thursday, October 19th. Barclays upped their price target 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. Bank of America reaffirmed a “buy” rating and issued a $60.00 price target (up from $56.00) on shares of Abbott Laboratories in a report on Wednesday, October 4th. Finally, ValuEngine cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 1st.

Abbott Laboratories (NYSE:ABT) opened at $59.31 on Friday. Abbott Laboratories has a 12-month low of $39.25 and a 12-month high of $59.68. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. The company has a market cap of $102,817.30, a price-to-earnings ratio of 46.70, a PEG ratio of 1.88 and a beta of 1.06.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The business had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.72 billion. During the same period in the previous year, the company posted $0.59 earnings per share. The business’s revenue for the quarter was up 28.8% compared to the same quarter last year. research analysts anticipate that Abbott Laboratories will post 2.5 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be issued a $0.28 dividend. The ex-dividend date is Thursday, January 11th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 1.89%. Abbott Laboratories’s dividend payout ratio is currently 88.19%.

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the business’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $56.21, for a total transaction of $5,430,054.63. Following the completion of the sale, the executive vice president now owns 142,082 shares in the company, valued at $7,986,429.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Sharon J. Bracken sold 2,188 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $56.12, for a total transaction of $122,790.56. Following the sale, the insider now owns 25,618 shares of the company’s stock, valued at approximately $1,437,682.16. The disclosure for this sale can be found here. Insiders sold 501,172 shares of company stock worth $27,533,150 over the last ninety days. 0.76% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Sanders Morris Harris LLC increased its stake in Abbott Laboratories by 0.3% during the second quarter. Sanders Morris Harris LLC now owns 4,986 shares of the healthcare product maker’s stock valued at $242,000 after purchasing an additional 16 shares during the last quarter. St. Louis Trust Co increased its stake in Abbott Laboratories by 0.4% during the second quarter. St. Louis Trust Co now owns 4,904 shares of the healthcare product maker’s stock valued at $238,000 after purchasing an additional 20 shares during the last quarter. Lakeview Capital Partners LLC increased its stake in Abbott Laboratories by 0.6% during the second quarter. Lakeview Capital Partners LLC now owns 5,691 shares of the healthcare product maker’s stock valued at $277,000 after purchasing an additional 33 shares during the last quarter. Johanson Financial Advisors Inc. increased its stake in Abbott Laboratories by 0.5% during the second quarter. Johanson Financial Advisors Inc. now owns 7,017 shares of the healthcare product maker’s stock valued at $343,000 after purchasing an additional 37 shares during the last quarter. Finally, Cobblestone Capital Advisors LLC NY increased its stake in Abbott Laboratories by 0.3% during the second quarter. Cobblestone Capital Advisors LLC NY now owns 16,511 shares of the healthcare product maker’s stock valued at $803,000 after purchasing an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 71.19% of the company’s stock.

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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.

Analyst Recommendations for Abbott Laboratories (NYSE:ABT)

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