Stock analysts at Evercore ISI started coverage on shares of Abbott Laboratories (NYSE:ABT) in a note issued to investors on Wednesday, January 3rd, MarketBeat.com reports. The brokerage set an “outperform” rating and a $64.00 price target on the healthcare product maker’s stock. Evercore ISI’s price target would indicate a potential upside of 8.77% from the company’s previous close.
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Tuesday, October 10th. Jefferies Group restated a “buy” rating and set a $65.00 price objective on shares of Abbott Laboratories in a research report on Thursday, October 19th. Cowen restated a “buy” rating on shares of Abbott Laboratories in a research report on Sunday, September 24th. Bank of America reiterated a “buy” rating and issued a $60.00 price target (up previously from $56.00) on shares of Abbott Laboratories in a report on Wednesday, October 4th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $55.00 price target on shares of Abbott Laboratories in a report on Tuesday, October 3rd. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $60.24.
Shares of Abbott Laboratories (ABT) traded down $0.11 during trading on Wednesday, reaching $58.84. 6,320,000 shares of the company’s stock were exchanged, compared to its average volume of 6,520,000. The stock has a market cap of $102,420.00, a P/E ratio of 48.63, a P/E/G ratio of 1.88 and a beta of 1.55. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. Abbott Laboratories has a 52 week low of $39.25 and a 52 week high of $59.60.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. The company had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. Abbott Laboratories’s quarterly revenue was up 28.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 EPS. equities analysts anticipate that Abbott Laboratories will post 2.5 EPS for the current year.
In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the firm’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $56.21, for a total transaction of $5,430,054.63. Following the completion of the transaction, the executive vice president now directly owns 142,082 shares in the company, valued at approximately $7,986,429.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Miles D. White sold 276,886 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $54.41, for a total transaction of $15,065,367.26. Following the transaction, the chairman now owns 3,677,913 shares of the company’s stock, valued at $200,115,246.33. The disclosure for this sale can be found here. Insiders have sold a total of 501,172 shares of company stock valued at $27,533,150 over the last 90 days. 0.76% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. Rowland & Co. Investment Counsel ADV acquired a new stake in shares of Abbott Laboratories during the 4th quarter worth about $102,000. Heritage Trust Co boosted its stake in shares of Abbott Laboratories by 10.1% during the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after purchasing an additional 200 shares during the last quarter. Tributary Capital Management LLC acquired a new stake in shares of Abbott Laboratories during the 3rd quarter worth about $106,000. Winfield Associates Inc. boosted its stake in shares of Abbott Laboratories by 3.9% during the 2nd quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock worth $116,000 after purchasing an additional 89 shares during the last quarter. Finally, Thompson Davis & CO. Inc. boosted its stake in shares of Abbott Laboratories by 17.7% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock worth $120,000 after purchasing an additional 370 shares during the last quarter. 71.15% of the stock is currently owned by institutional investors.
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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.
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