Abbott Laboratories (NYSE:ABT) PT Lowered to $119.00 at Citigroup

Abbott Laboratories (NYSE:ABT) had its target price trimmed by Citigroup from $128.00 to $119.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the healthcare product maker’s stock.

Several other research analysts also recently commented on the stock. Barclays reduced their price target on shares of Abbott Laboratories from $141.00 to $140.00 and set an overweight rating on the stock in a research note on Monday, April 22nd. Royal Bank of Canada decreased their price objective on shares of Abbott Laboratories from $128.00 to $125.00 and set an outperform rating for the company in a research note on Thursday, April 18th. Evercore ISI lifted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an outperform rating in a report on Thursday, April 4th. Finally, Raymond James reissued a buy rating and issued a $124.00 price target on shares of Abbott Laboratories in a report on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $120.60.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $103.95 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $180.83 billion, a PE ratio of 32.38, a P/E/G ratio of 2.52 and a beta of 0.76. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The company has a 50-day moving average price of $108.08 and a two-hundred day moving average price of $109.53.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. The firm had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the firm posted $1.03 earnings per share. Equities analysts forecast that Abbott Laboratories will post 4.62 EPS for the current year.

Insider Transactions at Abbott Laboratories

In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the sale, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total value of $2,428,025.00. Following the transaction, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the completion of the transaction, the executive vice president now directly owns 211,341 shares in the company, valued at $22,099,928.37. The disclosure for this sale can be found here. Insiders sold 34,384 shares of company stock valued at $3,653,916 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Abbott Laboratories

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. WealthPlan Investment Management LLC raised its position in Abbott Laboratories by 84.1% in the 3rd quarter. WealthPlan Investment Management LLC now owns 82,564 shares of the healthcare product maker’s stock valued at $7,996,000 after purchasing an additional 37,715 shares during the last quarter. SteelPeak Wealth LLC grew its stake in Abbott Laboratories by 214.2% in the third quarter. SteelPeak Wealth LLC now owns 6,503 shares of the healthcare product maker’s stock valued at $630,000 after acquiring an additional 4,433 shares during the period. MGO One Seven LLC grew its stake in Abbott Laboratories by 4.8% in the third quarter. MGO One Seven LLC now owns 18,222 shares of the healthcare product maker’s stock valued at $1,765,000 after acquiring an additional 834 shares during the period. Syon Capital LLC acquired a new position in shares of Abbott Laboratories during the third quarter worth about $840,000. Finally, Regent Peak Wealth Advisors LLC boosted its position in shares of Abbott Laboratories by 0.6% during the third quarter. Regent Peak Wealth Advisors LLC now owns 23,983 shares of the healthcare product maker’s stock worth $2,323,000 after buying an additional 138 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Company Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.