Abbott Laboratories (ABT) Stock Rating Reaffirmed by Leerink Swann

Abbott Laboratories (NYSE:ABT)‘s stock had its “market perform” rating reissued by analysts at Leerink Swann in a note issued to investors on Friday.

ABT has been the topic of several other research reports. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. JPMorgan Chase & Co. initiated coverage on Abbott Laboratories in a report on Friday, October 6th. They issued a “neutral” rating and a $60.00 price target on the stock. Royal Bank of Canada reiterated a “buy” rating and issued a $65.00 price target on shares of Abbott Laboratories in a report on Tuesday, January 9th. Finally, Cowen set a $68.00 price objective on Abbott Laboratories and gave the stock a “buy” rating in a research note on Thursday, October 19th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Abbott Laboratories has an average rating of “Buy” and a consensus price target of $60.24.

Abbott Laboratories (ABT) opened at $59.31 on Friday. The stock has a market capitalization of $102,817.30, a P/E ratio of 46.70, a price-to-earnings-growth ratio of 1.88 and a beta of 1.06. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72. Abbott Laboratories has a fifty-two week low of $39.25 and a fifty-two week high of $59.68.

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

In related news, insider Alejandro D. Wellisch sold 2,153 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $55.86, for a total transaction of $120,266.58. Following the completion of the sale, the insider now directly owns 10,256 shares of the company’s stock, valued at $572,900.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel Gesua Sive Salvadori sold 28,319 shares of the stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $54.92, for a total value of $1,555,279.48. Following the sale, the insider now directly owns 102,117 shares of the company’s stock, valued at $5,608,265.64. The disclosure for this sale can be found here. Insiders have sold 501,172 shares of company stock valued at $27,533,150 over the last ninety days. 0.76% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of ABT. Capital Investment Advisors LLC grew its holdings in Abbott Laboratories by 1.9% during the second quarter. Capital Investment Advisors LLC now owns 9,015 shares of the healthcare product maker’s stock valued at $438,000 after purchasing an additional 166 shares during the period. Family Legacy Inc. grew its holdings in Abbott Laboratories by 4.4% during the second quarter. Family Legacy Inc. now owns 4,771 shares of the healthcare product maker’s stock valued at $232,000 after purchasing an additional 200 shares during the period. Johanson Financial Advisors Inc. grew its holdings 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 period. Pure Financial Advisors Inc. grew its holdings in Abbott Laboratories by 2.8% during the second quarter. Pure Financial Advisors Inc. now owns 11,315 shares of the healthcare product maker’s stock valued at $550,000 after purchasing an additional 311 shares during the period. Finally, Carlson Capital Management bought a new position in Abbott Laboratories during the second quarter valued at $296,000. 71.19% of the stock is owned by institutional investors.

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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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