Abbott Laboratories (NYSE:ABT) Receives Buy Rating from BTIG Research

Key Points

• BTIG Research has reaffirmed a "buy" rating for Abbott Laboratories with a price target of $145.00, indicating a potential upside of 12.10% from the prior close.
• Abbott Laboratories reported a 6.9% year-over-year increase in quarterly revenue, with earnings per share of $1.30 meeting analysts' expectations.
• Major rating changes include Wells Fargo's price target reduction to $142.00 and upgrades from Evercore ISI and William Blair, resulting in a consensus rating of "Moderate Buy" among analysts.

Abbott Laboratories (NYSE:ABT - Get Free Report)'s stock had its "buy" rating reaffirmed by BTIG Research in a research report issued on Wednesday,Benzinga reports. They presently have a $145.00 price objective on the healthcare product maker's stock. BTIG Research's price objective indicates a potential upside of 12.10% from the company's previous close.

Other research analysts also recently issued reports about the company. 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 report on Friday, July 18th. Evercore ISI lifted their target price on Abbott Laboratories from $140.00 to $144.00 and gave the company an "outperform" rating in a research report on Tuesday, October 7th. Mizuho lifted their price target on Abbott Laboratories from $135.00 to $140.00 and gave the stock a "neutral" rating in a report on Tuesday. William Blair upgraded Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Finally, Raymond James Financial reduced their price target on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a report on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $146.17.

Abbott Laboratories Stock Down 2.9%

Shares of ABT opened at $129.35 on Wednesday. The firm has a market capitalization of $225.13 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 2.53 and a beta of 0.69. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. The business's fifty day moving average price is $132.59 and its two-hundred day moving average price is $131.60. 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 announced its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting analysts' consensus estimates of $1.30. The firm had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The business's quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company earned $1.21 EPS. 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.

Insiders Place Their Bets

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the company's stock in a transaction 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 directly owned 51,003 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by insiders.

Institutional Trading of Abbott Laboratories

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

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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