VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $4.81 Million Investment in Abbott Laboratories $ABT

Key Points

• Virginia Retirement Systems initiated a $4.81 million position in Abbott Laboratories by purchasing 48,631 shares during the third quarter. Institutional investors collectively own 75.18% of the company.
• Abbott reported quarterly earnings of $1.42 per share, in line with estimates, while revenue rose 14.5% year over year to $13.01 billion. The company also declared a quarterly dividend of $0.63 per share, equivalent to a 2.4% annual yield.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $118.32 versus its recent $106.33 price. Growth opportunities include Abbott’s Cephea heart-valve trial and diagnostics business, while competition from Dexcom and an Argus downgrade present risks.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Abbott Laboratories (NYSE:ABT - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 48,631 shares of the healthcare product maker's stock, valued at approximately $4,806,000.

A number of other hedge funds have also bought and sold shares of the business. Foresight Capital Management Advisors Inc. acquired a new stake in shares of Abbott Laboratories in the third quarter valued at approximately $31,000. Manning & Napier Advisors LLC bought a new stake in shares of Abbott Laboratories during the 2nd quarter valued at $31,000. Balance Wealth Partners LLC acquired a new stake in shares of Abbott Laboratories during the 3rd quarter worth $34,000. Summit Securities Group LLC grew its holdings in shares of Abbott Laboratories by 41.3% during the 2nd quarter. Summit Securities Group LLC now owns 404 shares of the healthcare product maker's stock worth $37,000 after purchasing an additional 118 shares in the last quarter. Finally, Addison Advisors LLC bought a new position in shares of Abbott Laboratories in the second quarter worth $40,000. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Up 0.1%

NYSE:ABT opened at $106.33 on Monday. Abbott Laboratories has a one year low of $81.97 and a one year high of $132.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.38 and a quick ratio of 0.97. The company has a market cap of $183.99 billion, a PE ratio of 39.68, a P/E/G ratio of 1.86 and a beta of 0.54. The firm's 50 day simple moving average is $104.36 and its 200 day simple moving average is $102.06.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The healthcare product maker reported $1.42 earnings per share for the quarter, meeting analysts' consensus estimates of $1.42. The business had revenue of $13.01 billion during the quarter, compared to the consensus estimate of $12.99 billion. Abbott Laboratories had a return on equity of 17.97% and a net margin of 9.75%. Abbott Laboratories's quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.30 earnings per share. On average, research analysts anticipate that Abbott Laboratories will post 5.52 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be issued a $0.63 dividend. The ex-dividend date is Thursday, October 15th. This represents a $2.52 annualized dividend and a yield of 2.4%. Abbott Laboratories's dividend payout ratio is presently 94.03%.

Key Stories Impacting Abbott Laboratories

Here are the key news stories impacting Abbott Laboratories this week:

• Positive Sentiment: Abbott began the pivotal CROWN-MV trial for its investigational Cephea Mitral Valve System, designed as a minimally invasive treatment for symptomatic mitral valve disease patients who are ineligible for surgery or transcatheter repair. Successful development could expand Abbott’s structural-heart portfolio, although the device remains investigational and carries clinical and regulatory risk. Abbott initiates pivotal trial for Cephea device
• Positive Sentiment: Industry reports forecast strong expansion in point-of-care diagnostics across South and Central America and continued growth in home INR monitoring. Abbott is listed among the key suppliers, suggesting potential long-term opportunities for its diagnostics business through testing volume, instruments and recurring consumables. South and Central America point-of-care diagnostics market Point-of-care INR testing market
• Neutral Sentiment: Discussion of Abbott’s approaching breakup highlights the potential for value creation through separating businesses, but also raises questions about execution, valuation and how costs and growth prospects will be allocated among the resulting companies. Can Abbott Laboratories Stay Reasonable As Its Breakup Nears?
• Negative Sentiment: Dexcom exceeded expectations and raised guidance, underscoring robust demand for continuous glucose-monitoring wearables but also intensifying competitive pressure on Abbott’s FreeStyle Libre franchise. Stronger execution by Dexcom could weigh on expectations for Abbott’s diabetes-care growth. Dexcom shakes off Abbott-tied malaise
• Negative Sentiment: Argus downgraded Abbott Laboratories, adding a near-term valuation and analyst-sentiment headwind. Abbott Laboratories stock gets downgrade from Argus

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ABT. Wall Street Zen upgraded shares of Abbott Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday, October 24th. UBS Group cut their price target on shares of Abbott Laboratories from $135.00 to $125.00 and set a "buy" rating for the company in a report on Tuesday, July 28th. Piper Sandler reiterated an "overweight" rating and issued a $118.00 price target (up from $115.00) on shares of Abbott Laboratories in a research note on Friday, July 17th. BTIG Research lowered their price target on Abbott Laboratories from $134.00 to $125.00 and set a "buy" rating for the company in a report on Thursday, October 22nd. Finally, Wolfe Research raised Abbott Laboratories from a "peer perform" rating to an "outperform" rating and set a $130.00 price objective on the stock in a research note on Thursday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $118.32.

About Abbott Laboratories

Abbott Laboratories is a global healthcare company that develops, manufactures and markets a broad range of medical products and services. Founded in 1888 by Wallace C. Abbott, the company is headquartered in Abbott Park, Illinois, and serves patients, healthcare providers and consumers in markets around the world.

Abbott operates across four principal businesses: medical devices, diagnostics, nutrition and established pharmaceutical products. Its offerings include glucose-monitoring systems such as FreeStyle Libre; cardiovascular devices, including stents and structural heart products; laboratory and point-of-care diagnostic systems; and branded generic medicines in areas such as gastroenterology, women's health and cardiometabolic care.

The company's nutrition portfolio includes infant and pediatric products such as Similac and PediaSure, adult nutritional products such as Ensure, and rehydration products such as Pedialyte.

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