Abbott Laboratories (NYSE:ABT) Price Target Raised to $157.00 at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group has raised Abbott Laboratories' price target from $153.00 to $157.00, indicating a potential upside of 16.59% from its previous close.
• Abbott Laboratories recently reported quarterly earnings of $1.26 EPS, matching analyst estimates, and a revenue of $11.14 billion, surpassing expectations of $11.01 billion.
• Currently, 75.18% of Abbott's stock is owned by institutional investors, showing strong interest from major market players.

Abbott Laboratories (NYSE:ABT - Get Free Report) had its price target upped by The Goldman Sachs Group from $153.00 to $157.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The brokerage currently has a "buy" rating on the healthcare product maker's stock. The Goldman Sachs Group's price target would suggest a potential upside of 16.59% from the company's previous close.

Several other research firms have also issued reports on ABT. Jefferies Financial Group upgraded shares of Abbott Laboratories from a "hold" rating to a "buy" rating and raised their target price for the stock from $143.00 to $145.00 in a report on Friday, July 18th. Wells Fargo & Company decreased their price objective on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. BTIG Research lowered their price target on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a report on Friday, July 18th. Leerink Partners began coverage on Abbott Laboratories in a report on Monday, June 16th. They issued a "market perform" rating and a $143.00 target price for the company. Finally, Royal Bank Of Canada increased their price target on Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $145.39.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $134.66 on Wednesday. The firm has a market cap of $234.37 billion, a price-to-earnings ratio of 16.90, a price-to-earnings-growth ratio of 2.52 and a beta of 0.69. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The stock has a fifty day simple moving average of $131.48 and a two-hundred day simple moving average of $131.22. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting the consensus estimate of $1.26. The company had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.Abbott Laboratories's revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.14 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. Analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Insider Activity at Abbott Laboratories

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ABT. Vanguard Group Inc. raised its position in shares of Abbott Laboratories by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 172,800,851 shares of the healthcare product maker's stock worth $23,502,644,000 after acquiring an additional 2,977,715 shares in the last quarter. State Street Corp increased its holdings in Abbott Laboratories by 0.9% in the 2nd quarter. State Street Corp now owns 78,354,270 shares of the healthcare product maker's stock worth $10,656,964,000 after acquiring an additional 689,517 shares in the last quarter. Geode Capital Management LLC grew its holdings 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 worth $5,184,589,000 after buying an additional 1,390,554 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Abbott Laboratories by 12.8% during 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 acquiring an additional 3,371,113 shares during the period. Finally, Norges Bank purchased a new stake in Abbott Laboratories in the second quarter valued at $3,026,180,000. 75.18% of the stock is owned by hedge funds and other 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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