BofA Cuts Abbott Laboratories (NYSE:ABT) Price Target to $102.00

Key Points

• BofA lowered its price target on Abbott Laboratories from $120 to $102, implying about 15.4% upside from the stock’s current price.
• Other analysts have also cut targets recently, but the broader consensus remains Moderate Buy with an average price target of $118.38.
• Abbott recently reported better-than-expected quarterly results, beating EPS and revenue estimates, while insiders including the CFO and a director bought shares.

Abbott Laboratories (NYSE:ABT - Get Free Report) had its target price cut by analysts at BofA from $120.00 to $102.00 in a research note issued to investors on Friday,MarketScreener reports. BofA's target price would indicate a potential upside of 15.41% from the stock's current price.

Other equities analysts also recently issued reports about the company. Argus lowered their target price on Abbott Laboratories from $140.00 to $125.00 and set a "buy" rating on the stock in a research report on Tuesday, April 21st. Bank of America cut their price objective on Abbott Laboratories from $150.00 to $120.00 and set a "buy" rating for the company in a research note on Friday, April 17th. Jefferies Financial Group lowered their price target on shares of Abbott Laboratories from $145.00 to $135.00 and set a "buy" rating on the stock in a report on Friday, April 17th. JPMorgan Chase & Co. dropped their price objective on Abbott Laboratories from $123.00 to $110.00 and set an "overweight" rating for the company in a research note on Friday, April 17th. Finally, Citigroup lowered their price target on Abbott Laboratories from $136.00 to $108.00 and set a "buy" rating on the stock in a report on Friday, April 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Abbott Laboratories presently has a consensus rating of "Moderate Buy" and an average price target of $118.38.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $88.38 on Friday. The firm's 50 day moving average price is $91.75 and its 200-day moving average price is $108.12. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $153.94 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63. Abbott Laboratories has a twelve month low of $81.97 and a twelve month high of $139.06.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its earnings results on Thursday, April 16th. The healthcare product maker reported $1.15 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.01. The business had revenue of $11.16 billion during the quarter, compared to analysts' expectations of $10.99 billion. Abbott Laboratories had a net margin of 13.90% and a return on equity of 17.62%. The firm's revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company 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. Equities research analysts expect that Abbott Laboratories will post 5.48 EPS for the current year.

Insider Activity at Abbott Laboratories

In related news, CFO Philip P. Boudreau purchased 2,200 shares of the company's stock in a transaction that occurred on Thursday, April 23rd. The stock was bought at an average price of $91.50 per share, for a total transaction of $201,300.00. Following the completion of the transaction, the chief financial officer owned 2,200 shares in the company, valued at approximately $201,300. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel J. Starks bought 10,000 shares of the business's stock in a transaction dated Monday, April 27th. The shares were bought at an average cost of $92.65 per share, for a total transaction of $926,500.00. Following the transaction, the director owned 6,751,103 shares in the company, valued at approximately $625,489,692.95. The trade was a 0.15% increase in their position. The SEC filing for this purchase provides additional information. 0.46% of the stock is owned by corporate insiders.

Institutional Trading of Abbott Laboratories

A number of hedge funds have recently bought and sold shares of ABT. Brighton Jones LLC grew its stake in Abbott Laboratories by 10.1% during the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock worth $5,850,000 after buying an additional 4,755 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Abbott Laboratories by 3.5% in the second quarter. Sivia Capital Partners LLC now owns 4,768 shares of the healthcare product maker's stock valued at $648,000 after purchasing an additional 162 shares during the period. United Bank lifted its holdings in shares of Abbott Laboratories by 7.4% during the second quarter. United Bank now owns 29,004 shares of the healthcare product maker's stock worth $3,945,000 after purchasing an additional 2,001 shares during the period. Main Street Financial Solutions LLC increased its holdings 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 worth $1,618,000 after buying an additional 1,428 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in Abbott Laboratories by 25.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,435,683 shares of the healthcare product maker's stock worth $195,267,000 after buying an additional 292,547 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company's stock.

Abbott Laboratories Company Profile

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.