Abbott Laboratories (NYSE:ABT) Stock Price Down 2.1% - Here's What Happened

Key Points

• Abbott Laboratories shares fell 2.1% on Monday, trading as low as $81.97 before closing at $82.58, with volume well above average at more than 16.2 million shares.
• Recent analyst action was mixed but generally supportive: several firms cut price targets, while the consensus rating remains Moderate Buy with an average target price of $119.43.
• The company recently beat quarterly expectations, reporting EPS of $1.15 and revenue of $11.16 billion, and it also declared a quarterly dividend of $0.63 per share for a 3.1% yield.

Abbott Laboratories (NYSE:ABT - Get Free Report)'s share price was down 2.1% on Monday . The company traded as low as $81.97 and last traded at $82.5820. Approximately 16,218,613 shares changed hands during trading, an increase of 37% from the average daily volume of 11,877,385 shares. The stock had previously closed at $84.32.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. TD Cowen lowered their price target on Abbott Laboratories from $137.00 to $115.00 and set a "buy" rating on the stock in a report on Friday, April 17th. Oppenheimer cut their price target on Abbott Laboratories from $132.00 to $115.00 and set an "outperform" rating for the company in a research note on Friday, April 17th. Freedom Capital upgraded shares of Abbott Laboratories from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 29th. Sanford C. Bernstein reduced their target price on shares of Abbott Laboratories from $125.00 to $110.00 and set an "outperform" rating for the company in a report on Friday, April 17th. Finally, BTIG Research reissued a "buy" rating and set a $131.00 price objective on shares of Abbott Laboratories in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $119.43.

Abbott Laboratories Stock Down 2.1%

The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.39. The stock has a market capitalization of $143.84 billion, a P/E ratio of 23.13, a P/E/G ratio of 1.41 and a beta of 0.65. The company's 50-day moving average price is $102.69 and its 200 day moving average price is $115.09.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its earnings results on Thursday, April 16th. The healthcare product maker reported $1.15 EPS for the quarter, topping the consensus estimate of $1.14 by $0.01. The firm had revenue of $11.16 billion for the quarter, compared to the consensus estimate of $10.99 billion. Abbott Laboratories had a net margin of 13.90% and a return on equity of 17.62%. The company's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.09 earnings per share. Abbott Laboratories has set its FY 2026 guidance at 5.380-5.580 EPS and its Q2 2026 guidance at 1.250-1.310 EPS. As a group, equities analysts expect that Abbott Laboratories will post 5.48 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Wednesday, April 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.1%. The ex-dividend date is Wednesday, April 15th. Abbott Laboratories's dividend payout ratio (DPR) is currently 70.59%.

Insider Activity

In other Abbott Laboratories news, CFO Philip P. Boudreau acquired 2,200 shares of the company's stock in a transaction on Thursday, April 23rd. The stock was acquired at an average cost of $91.50 per share, with a total value of $201,300.00. Following the purchase, the chief financial officer directly owned 2,200 shares of the company's stock, valued at approximately $201,300. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mary K. Moreland sold 613 shares of the business's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $115.58, for a total transaction of $70,850.54. Following the completion of the sale, the executive vice president owned 104,291 shares in the company, valued at approximately $12,053,953.78. This trade represents a 0.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 3,055 shares of company stock worth $353,097. 0.46% of the stock is owned by corporate insiders.

Institutional Trading of Abbott Laboratories

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC boosted its position in shares of Abbott Laboratories by 10.1% during the fourth 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. Sivia Capital Partners LLC lifted its stake in shares of Abbott Laboratories by 3.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,768 shares of the healthcare product maker's stock worth $648,000 after acquiring an additional 162 shares during the last quarter. United Bank boosted its holdings in Abbott Laboratories by 7.4% during the 2nd quarter. United Bank now owns 29,004 shares of the healthcare product maker's stock valued at $3,945,000 after acquiring an additional 2,001 shares during the period. Main Street Financial Solutions LLC grew its position in Abbott Laboratories by 13.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 11,894 shares of the healthcare product maker's stock valued at $1,618,000 after acquiring an additional 1,428 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Abbott Laboratories by 25.6% in the second quarter. Canada Pension Plan Investment Board now owns 1,435,683 shares of the healthcare product maker's stock worth $195,267,000 after purchasing an additional 292,547 shares during the period. Hedge funds and other institutional investors own 75.18% of the company's stock.

About Abbott Laboratories

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.