Abbott Laboratories (NYSE:ABT) had its price objective raised by investment analysts at Morgan Stanley from $67.00 to $70.00 in a note issued to investors on Thursday. The firm currently has an “overweight” rating on the healthcare product maker’s stock. Morgan Stanley’s price target would suggest a potential upside of 10.72% from the company’s current price.
ABT has been the subject of several other reports. Wells Fargo & Co boosted their price objective on shares of Abbott Laboratories from $66.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday. BMO Capital Markets boosted their price objective on shares of Abbott Laboratories from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday. Stifel Nicolaus boosted their price objective on shares of Abbott Laboratories from $63.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday. William Blair raised shares of Abbott Laboratories from a “market perform” rating to an “outperform” rating in a research note on Thursday. Finally, Bank of America boosted their price objective on shares of Abbott Laboratories from $60.00 to $70.00 in a research note on Wednesday. They noted that the move was a valuation call. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Abbott Laboratories has a consensus rating of “Buy” and an average target price of $64.06.
Abbott Laboratories (ABT) traded up $1.50 during mid-day trading on Thursday, reaching $63.22. 15,248,996 shares of the company’s stock traded hands, compared to its average volume of 7,224,788. The stock has a market cap of $110,040.00, a PE ratio of 52.25, a P/E/G ratio of 1.89 and a beta of 1.55. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26. Abbott Laboratories has a 12-month low of $40.45 and a 12-month high of $64.60.
In related news, insider Alejandro D. Wellisch sold 2,153 shares of Abbott Laboratories stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $55.86, for a total transaction of $120,266.58. Following the transaction, the insider now owns 10,256 shares in the company, valued at approximately $572,900.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sharon J. Bracken sold 2,188 shares of Abbott Laboratories 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 transaction, the insider now owns 25,618 shares in the company, valued at approximately $1,437,682.16. The disclosure for this sale can be found here. Insiders have sold a total of 404,569 shares of company stock worth $22,103,095 in the last 90 days. Company insiders own 0.76% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Rowland & Co. Investment Counsel ADV acquired a new position in Abbott Laboratories in the 4th quarter worth $102,000. Heritage Trust Co lifted its holdings in Abbott Laboratories by 10.1% in the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after buying an additional 200 shares in the last quarter. Tributary Capital Management LLC acquired a new position in Abbott Laboratories in the 3rd quarter worth $106,000. Winfield Associates Inc. lifted its holdings in Abbott Laboratories by 3.9% in the 2nd quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock worth $116,000 after buying an additional 89 shares in the last quarter. Finally, Thompson Davis & CO. Inc. lifted its holdings in Abbott Laboratories by 17.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock worth $120,000 after buying an additional 370 shares in the last quarter. Institutional investors and hedge funds own 71.21% 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.
