Abbott Laboratories (NYSE:ABT) Given New $146.00 Price Target at Raymond James Financial

Key Points

• Raymond James Financial has increased Abbott Laboratories' price target from $141.00 to $146.00, indicating a potential upside of 13.05% from the current stock price.
• The company's stock is currently rated as a "Moderate Buy" by analysts, with a consensus target price of $147.22.
• Abbott Laboratories recently reported earnings of $1.30 per share for the quarter, meeting analysts' expectations while showing revenue growth of 6.9% compared to the same period last year.

Abbott Laboratories (NYSE:ABT - Get Free Report) had its price target upped by investment analysts at Raymond James Financial from $141.00 to $146.00 in a report issued on Thursday,MarketScreener reports. The brokerage presently has an "outperform" rating on the healthcare product maker's stock. Raymond James Financial's price objective would suggest a potential upside of 13.05% from the stock's current price.

ABT has been the topic of a number of other reports. Benchmark initiated coverage on shares of Abbott Laboratories in a report on Friday, October 10th. They set a "buy" rating and a $145.00 price objective on the stock. Mizuho lifted their target price on Abbott Laboratories from $135.00 to $140.00 and gave the stock a "neutral" rating in a research note on Tuesday. Evercore ISI lifted their target price on Abbott Laboratories from $140.00 to $144.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 7th. Jefferies Financial Group boosted their price objective on Abbott Laboratories from $145.00 to $149.00 and gave the company a "buy" rating in a research note on Thursday. Finally, William Blair upgraded Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $147.22.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $129.14 on Thursday. The company has a fifty day moving average of $132.59 and a 200-day moving average of $131.60. The firm has a market capitalization of $224.77 billion, a P/E ratio of 16.24, a P/E/G ratio of 2.53 and a beta of 0.69. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.30. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same quarter last year, the firm posted $1.21 EPS. Abbott Laboratories's revenue was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the sale, the chief financial officer owned 51,003 shares of the company's stock, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.46% of the company's stock.

Hedge Funds Weigh In On Abbott Laboratories

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Abbott Laboratories by 1.8% in the second quarter. Vanguard Group Inc. now owns 172,800,851 shares of the healthcare product maker's stock worth $23,502,644,000 after purchasing an additional 2,977,715 shares in the last quarter. State Street Corp boosted its position in shares of Abbott Laboratories by 0.9% during the second quarter. State Street Corp now owns 78,354,270 shares of the healthcare product maker's stock valued at $10,656,964,000 after buying an additional 689,517 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Abbott Laboratories by 3.8% during the second quarter. Geode Capital Management LLC now owns 38,293,067 shares of the healthcare product maker's stock valued at $5,184,589,000 after buying an additional 1,390,554 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Abbott Laboratories by 12.8% during the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker's stock valued at $3,948,117,000 after buying an additional 3,371,113 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Abbott Laboratories during the second quarter valued at $3,026,180,000. Institutional investors own 75.18% of the company's stock.

About Abbott Laboratories

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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