Abbott Laboratories (NYSE:ABT) had its price target boosted by investment analysts at Bank of America from $60.00 to $70.00 in a research note issued on Wednesday, The Fly reports. Bank of America’s target price would suggest a potential upside of 13.40% from the company’s previous close. The analysts noted that the move was a valuation call.
A number of other brokerages also recently weighed in on ABT. Leerink Swann reissued a “market perform” rating on shares of Abbott Laboratories in a report on Friday, January 19th. BTIG Research downgraded shares of Abbott Laboratories from a “buy” rating to a “neutral” rating in a report on Monday. They noted that the move was a valuation call. Barclays reissued a “buy” rating and issued a $66.00 price target on shares of Abbott Laboratories in a report on Monday, January 8th. Royal Bank of Canada reissued a “buy” rating and issued a $65.00 price target on shares of Abbott Laboratories in a report on Tuesday, January 9th. Finally, Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Tuesday, January 2nd. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $60.82.
Shares of Abbott Laboratories (NYSE:ABT) traded up $2.50 during trading on Wednesday, reaching $61.73. 9,561,370 shares of the company’s stock were exchanged, compared to its average volume of 6,390,293. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. Abbott Laboratories has a 12-month low of $39.25 and a 12-month high of $59.68. The company has a market cap of $107,330.00, a P/E ratio of 51.02, a PEG ratio of 1.90 and a beta of 1.55.
A number of hedge funds have recently made changes to their positions in ABT. Bruderman Asset Management LLC grew its position in shares of Abbott Laboratories by 0.3% during the 3rd quarter. Bruderman Asset Management LLC now owns 3,124 shares of the healthcare product maker’s stock worth $132,000 after buying an additional 10 shares during the period. Sanders Morris Harris LLC grew its position in shares of Abbott Laboratories by 0.3% during the 2nd quarter. Sanders Morris Harris LLC now owns 4,986 shares of the healthcare product maker’s stock worth $242,000 after buying an additional 16 shares during the period. MCF Advisors LLC grew its position in shares of Abbott Laboratories by 0.3% during the 1st quarter. MCF Advisors LLC now owns 5,456 shares of the healthcare product maker’s stock worth $228,000 after buying an additional 18 shares during the period. Summit Financial Strategies Inc. grew its position in shares of Abbott Laboratories by 0.4% during the 2nd quarter. Summit Financial Strategies Inc. now owns 5,207 shares of the healthcare product maker’s stock worth $205,000 after buying an additional 19 shares during the period. Finally, St. Louis Trust Co grew its position in shares of Abbott Laboratories by 0.4% during the 2nd quarter. St. Louis Trust Co now owns 4,904 shares of the healthcare product maker’s stock worth $238,000 after buying an additional 20 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.
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.
