Barclays Reiterates Overweight Rating for Abbott Laboratories (NYSE:ABT)

Abbott Laboratories (NYSE:ABTGet Free Report)‘s stock had its “overweight” rating reiterated by investment analysts at Barclays in a report released on Monday, MarketBeat reports. They currently have a $158.00 price objective on the healthcare product maker’s stock, up from their previous price objective of $149.00. Barclays‘s price target points to a potential upside of 24.14% from the stock’s previous close.

ABT has been the subject of several other reports. Mizuho raised their target price on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Stifel Nicolaus lifted their price objective on shares of Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Oppenheimer began coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target for the company. Morgan Stanley upped their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, Jefferies Financial Group raised their target price on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $133.06.

Get Our Latest Research Report on ABT

Abbott Laboratories Trading Down 1.7 %

Shares of Abbott Laboratories stock opened at $127.28 on Monday. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $129.85. The stock has a market cap of $220.76 billion, a PE ratio of 16.64, a PEG ratio of 2.51 and a beta of 0.73. The firm has a 50-day moving average of $115.50 and a 200-day moving average of $113.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABTGet Free Report) last announced its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.34. The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. Abbott Laboratories’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.19 earnings per share. As a group, sell-side analysts forecast that Abbott Laboratories will post 5.15 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ABT. Scientech Research LLC purchased a new position in Abbott Laboratories during the 2nd quarter worth $384,000. Ascent Group LLC raised its stake in shares of Abbott Laboratories by 13.8% during the 2nd quarter. Ascent Group LLC now owns 21,772 shares of the healthcare product maker’s stock worth $2,262,000 after buying an additional 2,639 shares during the period. Magnolia Capital Advisors LLC purchased a new stake in shares of Abbott Laboratories during the second quarter worth about $314,000. NewEdge Advisors LLC lifted its position in shares of Abbott Laboratories by 5.3% in the second quarter. NewEdge Advisors LLC now owns 170,850 shares of the healthcare product maker’s stock valued at $17,753,000 after acquiring an additional 8,620 shares in the last quarter. Finally, William B. Walkup & Associates Inc. acquired a new position in Abbott Laboratories in the 2nd quarter valued at $1,207,000. 75.18% of the stock is currently owned by institutional investors.

About Abbott Laboratories

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Abbott Laboratories (NYSE:ABT)

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