Evercore ISI Issues Positive Forecast for Abbott Laboratories (NYSE:ABT) Stock Price

Abbott Laboratories (NYSE:ABT - Get Free Report) had its price target increased by equities research analysts at Evercore ISI from $140.00 to $145.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the healthcare product maker's stock. Evercore ISI's target price suggests a potential upside of 9.89% from the stock's previous close.

Other research analysts have also issued reports about the company. Barclays upped their target price on Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a research note on Thursday, April 17th. Morgan Stanley upped their price target on Abbott Laboratories from $117.00 to $127.00 and gave the company an "equal weight" rating in a research report on Thursday, April 17th. Wells Fargo & Company upped their price target on Abbott Laboratories from $136.00 to $147.00 and gave the company an "overweight" rating in a research report on Thursday, April 17th. Royal Bank Of Canada upped their price target on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Thursday, April 17th. Finally, Raymond James Financial upped their price target on Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a research report on Thursday, April 17th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of "Moderate Buy" and an average price target of $143.11.

Abbott Laboratories Stock Down 1.1%

Shares of Abbott Laboratories stock traded down $1.41 during trading on Tuesday, hitting $131.95. 1,480,139 shares of the stock traded hands, compared to its average volume of 6,742,069. The stock has a market cap of $229.58 billion, a P/E ratio of 17.11, a PEG ratio of 2.54 and a beta of 0.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The company has a fifty day moving average price of $133.43 and a two-hundred day moving average price of $128.69.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. The firm had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.38 billion. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. Equities research analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Insider Activity at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the sale, the director owned 34,058 shares of the company's stock, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Abbott Laboratories

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Redwood Park Advisors LLC acquired a new position in shares of Abbott Laboratories during the 4th quarter worth approximately $25,000. Hughes Financial Services LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter worth approximately $27,000. WealthTrak Capital Management LLC acquired a new position in shares of Abbott Laboratories during the 4th quarter worth approximately $28,000. Abound Financial LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter worth approximately $28,000. Finally, Elequin Capital LP acquired a new position in shares of Abbott Laboratories during the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Company Profile

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.