Abbott Laboratories (NYSE:ABT) Upgraded to "Buy" at Rothschild & Co Redburn

Key Points

• Rothschild & Co Redburn upgraded Abbott Laboratories to “Buy” from “Neutral” and raised its price target to $127 from $119, implying 31.45% potential upside.
• Analyst sentiment remains favorable, with Abbott receiving a consensus “Moderate Buy” rating and an average price target of $119.80 from MarketBeat-tracked analysts.
• Abbott’s latest quarterly results exceeded expectations, with adjusted EPS of $1.31 versus $1.28 expected and revenue of $12.59 billion, up 13% year over year; institutional investors own 75.18% of the stock.

Abbott Laboratories (NYSE:ABT - Get Free Report) was upgraded by research analysts at Rothschild & Co Redburn from a "neutral" rating to a "buy" rating in a research note issued to investors on Friday, Benzinga reports. The firm presently has a $127.00 target price on the healthcare product maker's stock, up from their prior target price of $119.00. Rothschild & Co Redburn's price objective indicates a potential upside of 31.45% from the stock's current price.

ABT has been the subject of a number of other reports. TD Cowen reissued a "buy" rating and set a $135.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, September 8th. Robert W. Baird started coverage on shares of Abbott Laboratories in a research note on Wednesday, July 1st. They issued an "outperform" rating and a $121.00 price target for the company. Wells Fargo & Company boosted their price target on shares of Abbott Laboratories from $109.00 to $112.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. Citigroup raised their price objective on shares of Abbott Laboratories from $108.00 to $112.00 and gave the company a "buy" rating in a report on Friday, July 17th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Abbott Laboratories from $110.00 to $120.00 and gave the stock an "overweight" rating in a research report on Friday, July 17th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $119.80.

Abbott Laboratories Stock Down 2.2%

Shares of NYSE ABT opened at $96.61 on Friday. The stock has a market cap of $167.18 billion, a P/E ratio of 31.27, a PEG ratio of 1.83 and a beta of 0.59. The business's fifty day simple moving average is $107.10 and its 200-day simple moving average is $98.68. Abbott Laboratories has a 12-month low of $81.97 and a 12-month high of $135.37. The company has a current ratio of 1.38, a quick ratio of 0.97 and a debt-to-equity ratio of 0.57.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 EPS for the quarter, topping the consensus estimate of $1.28 by $0.03. The firm had revenue of $12.59 billion during the quarter, compared to analysts' expectations of $12.52 billion. Abbott Laboratories had a return on equity of 17.69% and a net margin of 11.65%.Abbott Laboratories's revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.26 EPS. Abbott Laboratories has set its Q3 2026 guidance at 1.380-1.46 EPS and its FY 2026 guidance at 5.450-5.60 EPS. As a group, equities analysts predict that Abbott Laboratories will post 5.52 EPS for the current fiscal year.

Institutional Trading of Abbott Laboratories

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Abbott Laboratories by 4.6% in the second quarter. BlackRock Inc. now owns 152,563,476 shares of the healthcare product maker's stock valued at $13,843,610,000 after acquiring an additional 6,769,518 shares during the last quarter. State Street Corp increased its position in shares of Abbott Laboratories by 2.1% during the fourth quarter. State Street Corp now owns 79,853,782 shares of the healthcare product maker's stock worth $10,004,880,000 after purchasing an additional 1,627,791 shares in the last quarter. Capital International Investors increased its position in shares of Abbott Laboratories by 2.6% during the fourth quarter. Capital International Investors now owns 63,229,445 shares of the healthcare product maker's stock worth $7,922,519,000 after purchasing an additional 1,614,706 shares in the last quarter. J. Stern & Co. LLP lifted its holdings in shares of Abbott Laboratories by 12,439.6% in the 4th quarter. J. Stern & Co. LLP now owns 39,319,009 shares of the healthcare product maker's stock valued at $4,926,279,000 after purchasing an additional 39,005,451 shares during the last quarter. Finally, Capital Research Global Investors boosted its position in shares of Abbott Laboratories by 1.0% in the 4th quarter. Capital Research Global Investors now owns 39,169,239 shares of the healthcare product maker's stock valued at $4,907,523,000 after purchasing an additional 400,400 shares during the period. Hedge funds and other institutional investors own 75.18% of the company's stock.

About Abbott Laboratories

Abbott Laboratories NYSE: ABT is a diversified healthcare company that develops, manufactures and sells medical devices, diagnostic products, nutritional products and branded generic pharmaceuticals. Founded in 1888 by Wallace C. Abbott, the company serves healthcare providers, institutions, retailers and consumers worldwide.

Abbott's medical device portfolio includes cardiovascular products, such as coronary stents, structural heart systems and heart failure devices, as well as diabetes-care technologies, including the FreeStyle Libre continuous glucose monitoring system.

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.