Abbott Laboratories (NYSE:ABT) Price Target Lowered to $142.00 at Evercore ISI

Key Points

• Evercore ISI has lowered its price target for Abbott Laboratories from $144.00 to $142.00, while maintaining an "outperform" rating, indicating a potential upside of 10.04% from the current stock price.
• A variety of other brokerages have also updated their ratings, with several analysts maintaining a positive outlook, resulting in an average target price of $147.22 for the stock.
• Abbott Laboratories reported quarterly earnings of $1.30 EPS, matching consensus estimates, with revenue of $11.37 billion, which was slightly below analyst expectations.

Abbott Laboratories (NYSE:ABT - Get Free Report) had its price objective cut by Evercore ISI from $144.00 to $142.00 in a note issued to investors on Wednesday,MarketScreener reports. The firm currently has an "outperform" rating on the healthcare product maker's stock. Evercore ISI's target price points to a potential upside of 10.04% from the stock's current price.

A number of other brokerages have also weighed in on ABT. Weiss Ratings restated a "buy (b)" rating on shares of Abbott Laboratories in a research note on Wednesday, October 8th. Morgan Stanley upped their target price on Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Raymond James Financial upped their target price on Abbott Laboratories from $141.00 to $146.00 and gave the company an "outperform" rating in a research report on Thursday. BTIG Research reiterated a "buy" rating and issued a $145.00 target price on shares of Abbott Laboratories in a research report on Wednesday. Finally, Royal Bank Of Canada upped their target price on Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $147.22.

Abbott Laboratories Stock Down 0.3%

NYSE ABT opened at $129.05 on Wednesday. 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 company has a fifty day moving average of $132.59 and a two-hundred day moving average of $131.60. The firm has a market capitalization of $224.60 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 2.53 and a beta of 0.69. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting the consensus estimate of $1.30. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The company had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. During the same period in the previous year, the firm earned $1.21 earnings per share. Abbott Laboratories's quarterly 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. On average, analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Insider Buying and Selling at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer directly owned 51,003 shares in the company, valued at $6,862,453.65. This trade represents a 9.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.46% of the company's stock.

Hedge Funds Weigh In On Abbott Laboratories

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after buying an additional 4,755 shares during the period. GAMMA Investing LLC boosted its stake in shares of Abbott Laboratories by 17.0% in the 1st quarter. GAMMA Investing LLC now owns 38,467 shares of the healthcare product maker's stock valued at $5,103,000 after buying an additional 5,590 shares during the period. Shepherd Financial Partners LLC boosted its stake in shares of Abbott Laboratories by 4.5% in the 1st quarter. Shepherd Financial Partners LLC now owns 3,080 shares of the healthcare product maker's stock valued at $408,000 after buying an additional 132 shares during the period. CWA Asset Management Group LLC boosted its stake in shares of Abbott Laboratories by 23.6% in the 1st quarter. CWA Asset Management Group LLC now owns 12,322 shares of the healthcare product maker's stock valued at $1,635,000 after buying an additional 2,352 shares during the period. Finally, Harrell Investment Partners LLC purchased a new position in shares of Abbott Laboratories in the 1st quarter valued at about $216,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

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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