JPMorgan Chase & Co. Increases Abbott Laboratories (ABT) Price Target to $81.00

Abbott Laboratories (NYSE:ABT) had its price target upped by stock analysts at JPMorgan Chase & Co. from $77.00 to $81.00 in a report released on Monday. The firm presently has an “overweight” rating on the healthcare product maker’s stock. JPMorgan Chase & Co.’s price objective would indicate a potential upside of 13.16% from the company’s previous close.

ABT has been the topic of a number of other research reports. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Wells Fargo & Co boosted their price objective on shares of Abbott Laboratories from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, September 24th. Raymond James boosted their price objective on shares of Abbott Laboratories from $72.00 to $77.00 and gave the company an “outperform” rating in a research report on Monday, September 24th. Sanford C. Bernstein began coverage on shares of Abbott Laboratories in a research report on Wednesday, June 27th. They issued an “outperform” rating and a $73.00 price objective on the stock. Finally, Royal Bank of Canada restated a “buy” rating and issued a $70.00 price objective on shares of Abbott Laboratories in a research report on Thursday, July 19th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $72.78.

Shares of NYSE:ABT opened at $71.58 on Monday. The firm has a market capitalization of $128.70 billion, a P/E ratio of 28.63, a price-to-earnings-growth ratio of 2.05 and a beta of 1.49. Abbott Laboratories has a 52 week low of $53.61 and a 52 week high of $74.15. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.58.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, July 18th. The healthcare product maker reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The company had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.71 billion. Abbott Laboratories had a net margin of 3.13% and a return on equity of 15.30%. The firm’s revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 EPS. As a group, equities analysts forecast that Abbott Laboratories will post 2.88 earnings per share for the current fiscal year.

In related news, insider Andrew H. Lane sold 9,097 shares of the business’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $67.11, for a total transaction of $610,499.67. Following the transaction, the insider now owns 35,576 shares in the company, valued at $2,387,505.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Brian J. Blaser sold 15,100 shares of the business’s stock in a transaction dated Tuesday, July 24th. The shares were sold at an average price of $63.96, for a total transaction of $965,796.00. Following the transaction, the executive vice president now owns 151,718 shares in the company, valued at approximately $9,703,883.28. The disclosure for this sale can be found here. Insiders have sold 155,321 shares of company stock worth $10,492,583 in the last quarter. 0.74% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. City Holding Co. boosted its stake in Abbott Laboratories by 1.6% during the second quarter. City Holding Co. now owns 50,654 shares of the healthcare product maker’s stock worth $3,089,000 after acquiring an additional 782 shares in the last quarter. Burns J W & Co. Inc. NY boosted its stake in Abbott Laboratories by 3.2% during the third quarter. Burns J W & Co. Inc. NY now owns 25,006 shares of the healthcare product maker’s stock worth $1,834,000 after acquiring an additional 785 shares in the last quarter. Fulton Bank N.A. boosted its stake in Abbott Laboratories by 4.3% during the third quarter. Fulton Bank N.A. now owns 19,375 shares of the healthcare product maker’s stock worth $1,421,000 after acquiring an additional 791 shares in the last quarter. Moody National Bank Trust Division boosted its stake in Abbott Laboratories by 7.3% during the second quarter. Moody National Bank Trust Division now owns 11,757 shares of the healthcare product maker’s stock worth $717,000 after acquiring an additional 795 shares in the last quarter. Finally, Sullivan Bruyette Speros & Blaney LLC boosted its stake in Abbott Laboratories by 4.2% during the second quarter. Sullivan Bruyette Speros & Blaney LLC now owns 19,760 shares of the healthcare product maker’s stock worth $1,205,000 after acquiring an additional 796 shares in the last quarter. Institutional investors own 72.16% 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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

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Analyst Recommendations for Abbott Laboratories (NYSE:ABT)

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