Abbott Laboratories (NYSE:ABT) Earns Buy (B) Rating from Weiss Ratings

Key Points

• Abbott Laboratories received a "buy (B)" rating from Weiss Ratings, indicating positive analyst sentiment for the company's stock.
• The stock has a consensus rating of "Moderate Buy" with a target price of $147.00, supported by multiple analysts reissuing positive ratings recently.
• Following a recent quarter's earnings report, Abbott Laboratories posted an EPS of $1.30, meeting analysts' expectations despite slightly missing revenue forecasts.

Abbott Laboratories (NYSE:ABT - Get Free Report)'s stock had its "buy (b)" rating reissued by investment analysts at Weiss Ratings in a research report issued on Friday,Weiss Ratings reports.

ABT has been the topic of a number of other research reports. Royal Bank Of Canada reissued an "outperform" rating and set a $147.00 price objective on shares of Abbott Laboratories in a research report on Thursday, October 16th. Sanford C. Bernstein increased their price objective on shares of Abbott Laboratories from $145.00 to $150.00 and gave the stock an "outperform" rating in a research report on Thursday, October 16th. Evercore ISI cut their price objective on shares of Abbott Laboratories from $144.00 to $142.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 15th. Raymond James Financial upped their target price on shares of Abbott Laboratories from $141.00 to $146.00 and gave the stock an "outperform" rating in a report on Thursday, October 16th. Finally, Benchmark began coverage on shares of Abbott Laboratories in a report on Friday, October 10th. They issued a "buy" rating and a $145.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Abbott Laboratories has a consensus rating of "Moderate Buy" and a consensus price target of $147.00.

Abbott Laboratories Trading Up 0.2%

ABT traded up $0.31 during trading on Friday, reaching $126.65. 2,030,045 shares of the stock traded hands, compared to its average volume of 6,602,357. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $220.42 billion, a PE ratio of 15.88, a P/E/G ratio of 2.43 and a beta of 0.69. The stock's 50-day moving average is $132.19 and its 200 day moving average is $131.53. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting analysts' consensus estimates of $1.30. The business had revenue of $11.37 billion for the quarter, compared to analysts' expectations of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The business's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Insider Buying and Selling

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the completion of the sale, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.46% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ABT. Norges Bank bought a new position in shares of Abbott Laboratories during the 2nd quarter valued at approximately $3,026,180,000. Nuveen LLC bought a new position in Abbott Laboratories in the 1st quarter worth approximately $1,658,180,000. Laurel Wealth Advisors LLC boosted its holdings in Abbott Laboratories by 13,347.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,056,934 shares of the healthcare product maker's stock worth $823,804,000 after buying an additional 6,011,891 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Abbott Laboratories by 29.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker's stock worth $2,120,516,000 after buying an additional 3,616,471 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Abbott Laboratories by 12.8% in the 1st quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker's stock worth $3,948,117,000 after buying an additional 3,371,113 shares during the period. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Company Profile

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.

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