Abbott Laboratories’ (NYSE:ABT) “Buy” Rating Reaffirmed at Barclays

Abbott Laboratories (NYSE:ABT)‘s stock had its “buy” rating reissued by equities research analysts at Barclays in a report released on Monday, January 8th. They currently have a $66.00 price target on the healthcare product maker’s stock. Barclays’ target price suggests a potential upside of 6.99% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. JPMorgan Chase & Co. started coverage on Abbott Laboratories in a report on Friday, October 6th. They set a “neutral” rating and a $60.00 price objective on the stock. Royal Bank of Canada restated a “buy” rating and set a $55.00 price objective on shares of Abbott Laboratories in a report on Tuesday, October 3rd. Cowen set a $68.00 price objective on Abbott Laboratories and gave the stock a “buy” rating in a report on Thursday, October 19th. Finally, ValuEngine upgraded Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, November 22nd. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Abbott Laboratories currently has an average rating of “Buy” and an average price target of $65.47.

Abbott Laboratories (ABT) traded down $0.49 during trading on Monday, reaching $61.69. The company had a trading volume of 12,345,432 shares, compared to its average volume of 7,020,000. The firm has a market cap of $107,380.00, a price-to-earnings ratio of 308.45, a PEG ratio of 1.88 and a beta of 1.55. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72. Abbott Laboratories has a 12-month low of $42.23 and a 12-month high of $64.60.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. The firm had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.38 billion. Abbott Laboratories had a return on equity of 13.80% and a net margin of 1.74%. Abbott Laboratories’s revenue for the quarter was up 42.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 EPS. sell-side analysts anticipate that Abbott Laboratories will post 2.86 earnings per share for the current year.

In related news, insider Brian J. Blaser sold 23,866 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $55.55, for a total transaction of $1,325,756.30. Following the completion of the transaction, the insider now owns 146,387 shares in the company, valued at approximately $8,131,797.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian J. Blaser sold 27,733 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $62.26, for a total value of $1,726,656.58. Following the transaction, the insider now owns 156,587 shares of the company’s stock, valued at approximately $9,749,106.62. The disclosure for this sale can be found here. Insiders have sold a total of 445,615 shares of company stock valued at $24,666,341 in the last 90 days. Insiders own 0.76% of the company’s stock.

A number of hedge funds have recently made changes to their positions in ABT. Rowland & Co. Investment Counsel ADV acquired a new position in Abbott Laboratories during the 4th quarter worth $102,000. Heritage Trust Co boosted its position in 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 acquiring an additional 200 shares during the period. Tributary Capital Management LLC acquired a new position in Abbott Laboratories during the 3rd quarter worth $106,000. Winfield Associates Inc. boosted its position in 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 acquiring an additional 89 shares during the period. Finally, Thompson Davis & CO. Inc. lifted its holdings in shares of Abbott Laboratories by 17.7% in the second quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after buying an additional 370 shares during the period. Institutional investors own 71.33% of the company’s stock.

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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.

Analyst Recommendations for Abbott Laboratories (NYSE:ABT)

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