Abbott Laboratories (ABT) Earns Outperform Rating from Analysts at Sanford C. Bernstein

Sanford C. Bernstein started coverage on shares of Abbott Laboratories (NYSE:ABT) in a report issued on Wednesday, MarketBeat.com reports. The firm issued an outperform rating and a $73.00 price target on the healthcare product maker’s stock.

A number of other research firms have also weighed in on ABT. Zacks Investment Research upgraded shares of Abbott Laboratories from a hold rating to a buy rating and set a $67.00 price objective for the company in a research note on Friday, April 20th. BTIG Research restated a hold rating on shares of Abbott Laboratories in a research note on Sunday, April 22nd. Citigroup reduced their price objective on shares of Abbott Laboratories from $66.00 to $65.00 and set a neutral rating for the company in a research note on Tuesday, April 24th. Finally, ValuEngine upgraded shares of Abbott Laboratories from a hold rating to a buy rating in a research note on Thursday, March 1st. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $69.35.

Shares of Abbott Laboratories stock opened at $60.99 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.66 and a quick ratio of 1.24. The stock has a market capitalization of $107.42 billion, a P/E ratio of 24.40, a price-to-earnings-growth ratio of 1.78 and a beta of 1.51. Abbott Laboratories has a 1 year low of $47.83 and a 1 year high of $64.60.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, April 18th. The healthcare product maker reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. The business had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.28 billion. Abbott Laboratories had a net margin of 1.67% and a return on equity of 14.54%. Abbott Laboratories’s revenue was up 16.7% compared to the same quarter last year. During the same period last year, the business earned $0.48 EPS. equities research analysts expect that Abbott Laboratories will post 2.86 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 15th. Stockholders of record on Friday, July 13th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Thursday, July 12th. Abbott Laboratories’s payout ratio is presently 44.80%.

In related news, SVP Sharon J. Bracken sold 2,150 shares of the firm’s stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $58.56, for a total value of $125,904.00. Following the transaction, the senior vice president now owns 43,990 shares of the company’s stock, valued at $2,576,054.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel Gesua Sive Salvadori sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 18th. The stock was sold at an average price of $61.20, for a total transaction of $183,600.00. Following the completion of the transaction, the insider now directly owns 95,581 shares in the company, valued at approximately $5,849,557.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,999 shares of company stock worth $359,901. Insiders own 0.74% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rench Wealth Management Inc. boosted its holdings in shares of Abbott Laboratories by 1.8% in the fourth quarter. Rench Wealth Management Inc. now owns 48,149 shares of the healthcare product maker’s stock worth $2,748,000 after buying an additional 863 shares during the last quarter. Altium Wealth Management LLC boosted its holdings in shares of Abbott Laboratories by 18.7% in the first quarter. Altium Wealth Management LLC now owns 5,618 shares of the healthcare product maker’s stock worth $337,000 after buying an additional 886 shares during the last quarter. Rehmann Capital Advisory Group boosted its holdings in shares of Abbott Laboratories by 11.2% in the fourth quarter. Rehmann Capital Advisory Group now owns 8,886 shares of the healthcare product maker’s stock worth $507,000 after buying an additional 892 shares during the last quarter. Reik & CO. LLC boosted its holdings in shares of Abbott Laboratories by 17.3% in the fourth quarter. Reik & CO. LLC now owns 6,115 shares of the healthcare product maker’s stock worth $349,000 after buying an additional 900 shares during the last quarter. Finally, Buckley Wealth Management LLC boosted its holdings in shares of Abbott Laboratories by 15.6% in the first quarter. Buckley Wealth Management LLC now owns 6,839 shares of the healthcare product maker’s stock worth $410,000 after buying an additional 923 shares during the last quarter. 71.67% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Abbott Laboratories (NYSE:ABT)

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