Abbott Laboratories (ABT) Stock Rating Reaffirmed by Leerink Swann

Abbott Laboratories (NYSE:ABT)‘s stock had its “market perform” rating reissued by analysts at Leerink Swann in a report released on Friday.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research raised 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 reissued a “buy” rating and issued a $65.00 price objective on shares of Abbott Laboratories in a research report on Thursday, October 19th. Cowen reissued a “buy” rating on shares of Abbott Laboratories in a research report on Sunday, September 24th. Bank of America reissued a “buy” rating and issued a $60.00 price objective (up previously from $56.00) on shares of Abbott Laboratories in a research report on Wednesday, October 4th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $55.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, October 3rd. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $60.24.

Abbott Laboratories (ABT) opened at $59.31 on Friday. Abbott Laboratories has a 12-month low of $39.25 and a 12-month high of $59.68. The company has a market cap of $102,817.30, a PE ratio of 46.70, a PEG ratio of 1.88 and a beta of 1.06. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26.

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, beating analysts’ consensus estimates of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The company had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.72 billion. During the same quarter last year, the firm posted $0.59 EPS. The company’s quarterly revenue was up 28.8% on a year-over-year basis. sell-side analysts expect that Abbott Laboratories will post 2.5 earnings per share for the current year.

In other Abbott Laboratories news, insider Brian J. Blaser sold 23,866 shares of the business’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $55.55, for a total value of $1,325,756.30. Following the completion of the sale, the insider now owns 146,387 shares of the company’s stock, valued at approximately $8,131,797.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the business’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 sale, the executive vice president now directly owns 142,082 shares of the company’s stock, valued at approximately $7,986,429.22. 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 in the last ninety days. 0.76% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sanders Morris Harris LLC raised its position in shares of Abbott Laboratories by 0.3% in the 2nd quarter. Sanders Morris Harris LLC now owns 4,986 shares of the healthcare product maker’s stock valued at $242,000 after buying an additional 16 shares in the last quarter. St. Louis Trust Co raised its position in shares of Abbott Laboratories by 0.4% in the 2nd quarter. St. Louis Trust Co now owns 4,904 shares of the healthcare product maker’s stock valued at $238,000 after buying an additional 20 shares in the last quarter. Lakeview Capital Partners LLC raised its position in shares of Abbott Laboratories by 0.6% in the 2nd quarter. Lakeview Capital Partners LLC now owns 5,691 shares of the healthcare product maker’s stock valued at $277,000 after buying an additional 33 shares in the last quarter. Johanson Financial Advisors Inc. raised its position in shares of Abbott Laboratories by 0.5% in the 2nd quarter. Johanson Financial Advisors Inc. now owns 7,017 shares of the healthcare product maker’s stock valued at $343,000 after buying an additional 37 shares in the last quarter. Finally, Cobblestone Capital Advisors LLC NY raised its position in shares of Abbott Laboratories by 0.3% in the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 16,511 shares of the healthcare product maker’s stock valued at $803,000 after buying an additional 56 shares in the last quarter. 71.19% of the stock is owned by hedge funds and other institutional investors.

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About Abbott Laboratories

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.

Analyst Recommendations for Abbott Laboratories (NYSE:ABT)

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