Daiwa Capital Markets Boosts Abbott Laboratories (NYSE:ABT) Price Target to $136.00

Key Points

• Daiwa Capital Markets has raised its price target for Abbott Laboratories (NYSE:ABT) from $134.00 to $136.00, indicating a potential upside of 5.69% from the previous close.
• Abbott Laboratories reported a quarterly earnings per share of $1.30, meeting analysts' expectations, with revenue of $11.37 billion during the quarter.
• Despite the price increase from Daiwa, other analysts have adjusted their targets downward, with Evercore ISI reducing its price objective for Abbott from $144.00 to $142.00.

Abbott Laboratories (NYSE:ABT - Get Free Report) had its price objective upped by investment analysts at Daiwa Capital Markets from $134.00 to $136.00 in a research note issued to investors on Tuesday,MarketScreener reports. The brokerage currently has an "outperform" rating on the healthcare product maker's stock. Daiwa Capital Markets' price objective suggests a potential upside of 5.69% from the company's previous close.

A number of other equities research analysts have also recently weighed in on ABT. Evercore ISI dropped their price objective on Abbott Laboratories from $144.00 to $142.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 15th. William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. BTIG Research restated a "buy" rating and issued a $145.00 target price on shares of Abbott Laboratories in a research note on Wednesday, October 15th. Benchmark began coverage on Abbott Laboratories in a report on Friday, October 10th. They set a "buy" rating and a $145.00 price objective for the company. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Abbott Laboratories in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Abbott Laboratories currently has an average rating of "Moderate Buy" and a consensus price target of $147.00.

Abbott Laboratories Stock Down 0.6%

Shares of Abbott Laboratories stock opened at $128.68 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The stock has a market cap of $223.96 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 2.44 and a beta of 0.69. The firm's 50-day moving average is $132.34 and its two-hundred day moving average is $131.57. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting the consensus estimate of $1.30. The firm had revenue of $11.37 billion during the quarter, compared to analysts' expectations of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The company's revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Philip P. Boudreau sold 5,550 shares of the firm's stock in a transaction that occurred 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 transaction, the chief financial officer owned 51,003 shares in the company, valued at $6,862,453.65. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is currently owned by insiders.

Institutional Trading of Abbott Laboratories

Institutional investors have recently bought and sold shares of the business. Avanza Fonder AB lifted its holdings in Abbott Laboratories by 0.4% during the second quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker's stock worth $22,904,000 after acquiring an additional 655 shares in the last quarter. Madrona Financial Services LLC increased its position in shares of Abbott Laboratories by 9.7% during the 2nd quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker's stock worth $235,000 after purchasing an additional 152 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Abbott Laboratories by 12.4% in the second quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker's stock valued at $91,109,000 after acquiring an additional 73,780 shares during the last quarter. SageView Advisory Group LLC grew its holdings in Abbott Laboratories by 18.6% during the first quarter. SageView Advisory Group LLC now owns 18,294 shares of the healthcare product maker's stock worth $2,427,000 after purchasing an additional 2,873 shares during the period. Finally, Cerity Partners LLC raised its stake in Abbott Laboratories by 49.8% in the 1st quarter. Cerity Partners LLC now owns 1,507,268 shares of the healthcare product maker's stock valued at $199,939,000 after acquiring an additional 501,200 shares during the period. 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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