Abbott Laboratories (NYSE:ABT) Research Coverage Started at StockNews.com

Posted by Defense World Staff on May 18th, 2023

Equities research analysts at StockNews.com assumed coverage on shares of Abbott Laboratories (NYSE:ABT – Get Rating) in a research note issued on Thursday. The firm set a “buy” rating on the healthcare product maker’s stock.

ABT has been the topic of a number of other reports. Wolfe Research decreased their price objective on Abbott Laboratories from $107.00 to $103.00 and set an “underperform” rating on the stock in a research report on Thursday, April 20th. Mizuho boosted their target price on Abbott Laboratories from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 24th. Stifel Nicolaus boosted their target price on Abbott Laboratories from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, January 26th. Wells Fargo & Company lowered their price target on shares of Abbott Laboratories from $140.00 to $136.00 and set an “overweight” rating for the company in a research report on Wednesday, April 5th. Finally, Sanford C. Bernstein lifted their price target on shares of Abbott Laboratories from $132.00 to $133.00 and gave the stock an “outperform” rating in a research report on Thursday, April 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $122.37.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $108.82 on Thursday. The business has a fifty day moving average of $104.65 and a 200-day moving average of $106.11. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 1.68. Abbott Laboratories has a twelve month low of $93.25 and a twelve month high of $118.23. The firm has a market cap of $189.23 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 4.95 and a beta of 0.67.

Abbott Laboratories (NYSE:ABT – Get Rating) last posted its quarterly earnings data on Wednesday, April 19th. The healthcare product maker reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.05. Abbott Laboratories had a net margin of 13.98% and a return on equity of 22.36%. The firm had revenue of $9.75 billion during the quarter, compared to analysts’ expectations of $9.64 billion. During the same quarter last year, the company posted $1.73 EPS. The company’s quarterly revenue was down 18.1% compared to the same quarter last year. On average, equities research analysts predict that Abbott Laboratories will post 4.38 EPS for the current fiscal year.

Insider Activity at Abbott Laboratories

In related news, SVP Julie L. Tyler sold 260 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $103.24, for a total value of $26,842.40. Following the sale, the senior vice president now owns 40,896 shares of the company’s stock, valued at approximately $4,222,103.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Abbott Laboratories news, SVP Julie L. Tyler sold 260 shares of Abbott Laboratories stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $103.24, for a total value of $26,842.40. Following the sale, the senior vice president now directly owns 40,896 shares in the company, valued at approximately $4,222,103.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel J. Starks sold 50,000 shares of Abbott Laboratories stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $111.02, for a total transaction of $5,551,000.00. Following the completion of the sale, the director now owns 6,825,316 shares in the company, valued at $757,746,582.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,197 shares of company stock valued at $6,659,607. 1.10% of the stock is owned by insiders.

Institutional Trading of Abbott Laboratories

A number of large investors have recently added to or reduced their stakes in the company. JDM Financial Group LLC bought a new position in shares of Abbott Laboratories in the fourth quarter valued at about $26,000. Altshuler Shaham Ltd acquired a new stake in Abbott Laboratories during the fourth quarter worth approximately $28,000. Monumental Financial Group Inc. acquired a new stake in Abbott Laboratories during the first quarter worth approximately $32,000. True Wealth Design LLC bought a new stake in shares of Abbott Laboratories during the fourth quarter worth approximately $33,000. Finally, FWL Investment Management LLC bought a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 72.93% of the company’s stock.

About Abbott Laboratories

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Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.