Abbott Laboratories (ABT) Stock Rating Upgraded by William Blair

Abbott Laboratories (NYSE:ABT) was upgraded by stock analysts at William Blair from a “market perform” rating to an “outperform” rating in a research note issued to investors on Thursday, Marketbeat.com reports. William Blair also issued estimates for Abbott Laboratories’ Q2 2018 earnings at $0.72 EPS, Q3 2018 earnings at $0.72 EPS, Q4 2018 earnings at $0.84 EPS, FY2018 earnings at $2.85 EPS, Q1 2019 earnings at $0.65 EPS, Q2 2019 earnings at $0.79 EPS, Q3 2019 earnings at $0.82 EPS, Q4 2019 earnings at $0.93 EPS and FY2019 earnings at $3.19 EPS.

Several other analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Tuesday, October 31st. Royal Bank of Canada reissued a “buy” rating and issued a $55.00 price target on shares of Abbott Laboratories in a report on Tuesday, October 3rd. BMO Capital Markets raised shares of Abbott Laboratories from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $58.00 to $65.00 in a report on Tuesday, December 12th. Morgan Stanley raised shares of Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 price target on the stock in a report on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. raised shares of Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 price target on the stock in a report on Tuesday, January 2nd. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $64.06.

Abbott Laboratories (NYSE:ABT) traded up $0.20 during midday trading on Thursday, reaching $63.42. 10,240,000 shares of the company’s stock traded hands, compared to its average volume of 7,190,000. Abbott Laboratories has a fifty-two week low of $40.60 and a fifty-two week high of $64.60. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72. The stock has a market cap of $110,390.00, a PE ratio of 317.10, a PEG ratio of 2.00 and a beta of 1.55.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.80%. The business had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $7.38 billion. During the same period in the prior year, the company posted $0.65 EPS. The business’s revenue for the quarter was up 42.3% compared to the same quarter last year. analysts forecast that Abbott Laboratories will post 2.85 EPS for the current fiscal year.

In related news, insider Daniel Gesua Sive Salvadori sold 71,157 shares of the stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $55.00, for a total transaction of $3,913,635.00. Following the transaction, the insider now owns 144,955 shares of the company’s stock, valued at approximately $7,972,525. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Sharon J. Bracken sold 2,188 shares of the 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 directly owns 25,618 shares in the company, valued at approximately $1,437,682.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 404,569 shares of company stock worth $22,103,095. 0.76% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Abbott Laboratories by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock worth $6,308,944,000 after acquiring an additional 3,241,063 shares during the last quarter. Capital Research Global Investors grew its holdings in Abbott Laboratories by 45.7% in the 2nd quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock worth $2,313,334,000 after acquiring an additional 14,918,038 shares during the last quarter. Northern Trust Corp grew its holdings in Abbott Laboratories by 3.1% in the 2nd quarter. Northern Trust Corp now owns 26,865,706 shares of the healthcare product maker’s stock worth $1,305,942,000 after acquiring an additional 809,732 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Abbott Laboratories by 28.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock worth $569,830,000 after acquiring an additional 2,606,404 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Abbott Laboratories by 7.7% in the 2nd quarter. Alliancebernstein L.P. now owns 11,607,121 shares of the healthcare product maker’s stock worth $564,222,000 after acquiring an additional 830,610 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION WARNING: “Abbott Laboratories (ABT) Stock Rating Upgraded by William Blair” was posted by American Banking News and is owned by of American Banking News. If you are reading this piece on another publication, it was copied illegally and republished in violation of United States and international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2018/01/27/abbott-laboratories-abt-stock-rating-upgraded-by-william-blair.html.

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)

Leave a Reply