Abbott Laboratories (NYSE:ABT) Receives Average Rating of “Buy” from Analysts

Shares of Abbott Laboratories (NYSE:ABT) have been given an average recommendation of “Buy” by the nineteen ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $85.82.

A number of brokerages recently issued reports on ABT. Raymond James raised their price target on Abbott Laboratories from $87.00 to $93.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Jefferies Financial Group raised their price target on Abbott Laboratories from $80.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Bank of America reissued a “buy” rating and set a $81.00 price target on shares of Abbott Laboratories in a research note on Thursday, June 13th. Wells Fargo & Co raised their price target on Abbott Laboratories from $89.00 to $91.00 and gave the stock an “outperform” rating in a research note on Thursday, June 13th. Finally, Cowen raised their price target on Abbott Laboratories from $86.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th.

In other Abbott Laboratories news, insider Daniel Gesua Sive Salvadori sold 10,600 shares of Abbott Laboratories stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $82.00, for a total transaction of $869,200.00. Following the completion of the sale, the insider now directly owns 99,479 shares of the company’s stock, valued at approximately $8,157,278. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brian J. Blaser sold 450,062 shares of Abbott Laboratories stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $75.52, for a total value of $33,988,682.24. Following the sale, the insider now directly owns 295,745 shares of the company’s stock, valued at $22,334,662.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 815,831 shares of company stock valued at $65,150,090. 0.70% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Northern Trust Corp increased its holdings in shares of Abbott Laboratories by 2.7% in the 4th quarter. Northern Trust Corp now owns 26,603,904 shares of the healthcare product maker’s stock valued at $1,924,260,000 after acquiring an additional 708,691 shares during the period. Krueger & Catalano Capital Partners LLC purchased a new position in shares of Abbott Laboratories in the 1st quarter valued at $244,000. Barometer Capital Management Inc. purchased a new position in shares of Abbott Laboratories in the 4th quarter valued at $8,251,000. FMR LLC increased its holdings in shares of Abbott Laboratories by 0.3% in the 1st quarter. FMR LLC now owns 23,827,545 shares of the healthcare product maker’s stock valued at $1,904,774,000 after acquiring an additional 65,260 shares during the period. Finally, Lowe Brockenbrough & Co. Inc. increased its holdings in shares of Abbott Laboratories by 2.5% in the 1st quarter. Lowe Brockenbrough & Co. Inc. now owns 62,003 shares of the healthcare product maker’s stock valued at $4,956,000 after acquiring an additional 1,514 shares during the period. 73.42% of the stock is owned by institutional investors and hedge funds.

Shares of ABT stock traded down $1.02 on Thursday, reaching $86.08. 6,620,989 shares of the company’s stock were exchanged, compared to its average volume of 5,684,600. Abbott Laboratories has a 52 week low of $63.07 and a 52 week high of $88.76. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.61. The company has a market cap of $153.73 billion, a PE ratio of 29.89, a PEG ratio of 2.49 and a beta of 1.10. The business has a fifty day moving average of $85.25.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.02. Abbott Laboratories had a return on equity of 17.39% and a net margin of 9.36%. The firm had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8 billion. During the same period last year, the company earned $0.73 EPS. Abbott Laboratories’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities analysts predict that Abbott Laboratories will post 3.24 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Friday, July 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.

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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