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

Abbott Laboratories (NYSE:ABT) has been given an average recommendation of “Buy” by the twenty-three research firms that are currently covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $66.12.

Several research firms recently commented on ABT. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Tuesday, October 31st. Royal Bank of Canada reissued a “buy” rating and set a $65.00 price target on shares of Abbott Laboratories in a research report on Tuesday, January 9th. BMO Capital Markets raised Abbott Laboratories from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $58.00 to $65.00 in a research report on Tuesday, December 12th. Morgan Stanley raised Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 price target on the stock in a research report on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. raised Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 price target on the stock in a research report on Tuesday, January 2nd.

In other Abbott Laboratories news, Chairman Miles D. White sold 276,886 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total transaction of $15,065,367.26. Following the sale, the chairman now directly owns 3,677,913 shares in the company, valued at approximately $200,115,246.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian J. Blaser sold 23,866 shares of Abbott Laboratories stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $55.55, for a total value of $1,325,756.30. Following the sale, the insider now owns 146,387 shares in the company, valued at $8,131,797.85. The disclosure for this sale can be found here. Insiders have sold a total of 374,458 shares of company stock worth $20,752,706 over the last 90 days. 0.76% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. Gratus Capital LLC increased its holdings in shares of Abbott Laboratories by 0.9% in the 2nd quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock valued at $9,968,000 after acquiring an additional 1,869 shares during the last quarter. Moody Lynn & Lieberson LLC increased its holdings in shares of Abbott Laboratories by 17.1% in the 3rd quarter. Moody Lynn & Lieberson LLC now owns 326,468 shares of the healthcare product maker’s stock valued at $17,420,000 after acquiring an additional 47,610 shares during the last quarter. Vantage Investment Advisors LLC increased its holdings in shares of Abbott Laboratories by 103.4% in the 2nd quarter. Vantage Investment Advisors LLC now owns 72,161 shares of the healthcare product maker’s stock valued at $3,508,000 after acquiring an additional 36,683 shares during the last quarter. Brightworth bought a new stake in shares of Abbott Laboratories in the 3rd quarter valued at approximately $841,000. Finally, RKL Wealth Management LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter valued at approximately $227,000. Institutional investors own 70.61% of the company’s stock.

Abbott Laboratories (NYSE ABT) opened at $57.64 on Wednesday. The firm has a market capitalization of $99,927.90, a PE ratio of 221.70, a PEG ratio of 1.72 and a beta of 1.55. Abbott Laboratories has a 52 week low of $42.31 and a 52 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.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. The business had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.38 billion. Abbott Laboratories had a return on equity of 13.80% and a net margin of 1.74%. The company’s revenue was up 42.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 EPS. sell-side analysts anticipate that Abbott Laboratories will post 2.86 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, January 11th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 1.94%. Abbott Laboratories’s payout ratio is currently 430.79%.

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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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