Abbott Laboratories (ABT) Given Outperform Rating at William Blair

William Blair reissued their outperform rating on shares of Abbott Laboratories (NYSE:ABT) in a research report released on Thursday morning, Zacks.com reports. William Blair also issued estimates for Abbott Laboratories’ Q3 2019 earnings at $0.85 EPS, Q4 2019 earnings at $0.94 EPS, FY2019 earnings at $3.21 EPS and FY2020 earnings at $3.58 EPS.

A number of other research analysts also recently issued reports on the company. Royal Bank of Canada raised their price target on Abbott Laboratories to $82.00 and gave the stock a buy rating in a research note on Monday, April 15th. They noted that the move was a valuation call. Zacks Investment Research upgraded Abbott Laboratories from a hold rating to a buy rating and set a $88.00 price target on the stock in a research note on Tuesday, March 19th. Wells Fargo & Co restated a buy rating on shares of Abbott Laboratories in a research note on Thursday, March 14th. Barclays set a $84.00 price target on Abbott Laboratories and gave the stock a buy rating in a research note on Friday, March 8th. Finally, Bank of America restated a buy rating and set a $81.00 price target (up previously from $73.00) on shares of Abbott Laboratories in a research note on Thursday, February 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the stock. Abbott Laboratories currently has an average rating of Buy and a consensus target price of $80.48.

ABT opened at $73.92 on Thursday. Abbott Laboratories has a one year low of $56.81 and a one year high of $80.74. The stock has a market capitalization of $129.84 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13. The company has a current ratio of 1.62, a quick ratio of 1.20 and a debt-to-equity ratio of 0.63.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Abbott Laboratories had a return on equity of 16.91% and a net margin of 8.53%. The business had revenue of $7.54 billion for the quarter, compared to the consensus estimate of $7.49 billion. During the same quarter in the prior year, the business posted $0.59 EPS. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, research analysts expect that Abbott Laboratories will post 3.21 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.28 dividend on an annualized basis and a yield of 1.73%. Abbott Laboratories’s dividend payout ratio is presently 44.44%.

In other Abbott Laboratories news, insider Joseph J. Manning sold 1,223 shares of Abbott Laboratories stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $78.00, for a total value of $95,394.00. Following the transaction, the insider now directly owns 61,324 shares in the company, valued at approximately $4,783,272. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jaime Contreras sold 177,457 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $70.00, for a total value of $12,421,990.00. Following the completion of the transaction, the insider now owns 100,985 shares in the company, valued at $7,068,950. The disclosure for this sale can be found here. Insiders sold a total of 280,021 shares of company stock worth $20,485,856 over the last quarter. Company insiders own 0.70% of the company’s stock.

Several hedge funds have recently made changes to their positions in ABT. Oregon Public Employees Retirement Fund grew its stake in shares of Abbott Laboratories by 7,559.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 30,095,862 shares of the healthcare product maker’s stock valued at $416,000 after purchasing an additional 29,702,943 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Abbott Laboratories by 102,159.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 27,234,758 shares of the healthcare product maker’s stock valued at $1,997,943,000 after purchasing an additional 27,208,125 shares during the last quarter. Norges Bank purchased a new position in shares of Abbott Laboratories in the 4th quarter valued at approximately $1,239,454,000. FMR LLC grew its stake in shares of Abbott Laboratories by 118.2% in the 4th quarter. FMR LLC now owns 23,762,285 shares of the healthcare product maker’s stock valued at $1,718,726,000 after purchasing an additional 12,871,418 shares during the last quarter. Finally, Ronna Sue Cohen grew its stake in shares of Abbott Laboratories by 7,636.6% in the 1st quarter. Ronna Sue Cohen now owns 6,248,957 shares of the healthcare product maker’s stock valued at $6,249,000 after purchasing an additional 6,168,186 shares during the last quarter. Institutional investors own 75.17% of the company’s stock.

Abbott Laboratories Company Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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Analyst Recommendations for Abbott Laboratories (NYSE:ABT)

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