BTIG Research Cuts Abbott Laboratories (NYSE:ABT) Price Target to $145.00

Abbott Laboratories (NYSE:ABT - Get Free Report) had its price target decreased by equities research analysts at BTIG Research from $148.00 to $145.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the healthcare product maker's stock. BTIG Research's target price would suggest a potential upside of 16.17% from the stock's current price.

Other equities research analysts also recently issued research reports about the stock. Mizuho boosted their target price on shares of Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a research report on Wednesday. Barclays lifted their price target on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a report on Thursday, April 17th. Evercore ISI lifted their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Wells Fargo & Company lifted their price target on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an "overweight" rating in a report on Thursday, April 17th. Finally, Royal Bank Of Canada boosted their target price on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $144.79.

Abbott Laboratories Trading Up 3.6%

Shares of ABT traded up $4.31 during mid-day trading on Friday, reaching $124.82. The company had a trading volume of 3,094,519 shares, compared to its average volume of 6,214,641. The stock has a market cap of $217.17 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 2.50 and a beta of 0.73. The firm has a fifty day simple moving average of $133.17 and a 200-day simple moving average of $129.38. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting the consensus estimate of $1.26. The business had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. The business's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.14 EPS. On average, sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Insider Activity

In related news, Director Sally E. Blount sold 2,600 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the transaction, the director directly owned 34,058 shares in the company, valued at $4,415,960.28. This represents a 7.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.46% of the company's stock.

Hedge Funds Weigh In On Abbott Laboratories

Hedge funds have recently made changes to their positions in the business. Redwood Park Advisors LLC acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at $25,000. Hughes Financial Services LLC acquired a new stake in shares of Abbott Laboratories during the 1st quarter worth about $27,000. WealthTrak Capital Management LLC acquired a new stake in shares of Abbott Laboratories during the 4th quarter worth about $28,000. Abound Financial LLC acquired a new stake in shares of Abbott Laboratories during the 1st quarter worth about $28,000. Finally, Elequin Capital LP acquired a new stake in shares of Abbott Laboratories during the 1st quarter worth about $30,000. Institutional investors and hedge funds own 75.18% of the company's stock.

About Abbott Laboratories

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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