Woodline Partners LP Purchases 57,077 Shares of Abbott Laboratories $ABT

Key Points

• Woodline Partners LP increased its stake in Abbott Laboratories by 107.7%, acquiring 57,077 shares and bringing its total holdings to 110,092 shares valued at approximately $14.6 million.
• Several institutional investors, including Zurich Insurance Group, significantly increased their positions in Abbott, which is currently 75.18% owned by institutional investors.
• Abbott Laboratories reported that its recent quarterly revenue reached $11.14 billion, exceeding analyst expectations, while also declaring a quarterly dividend of $0.59 per share.

Woodline Partners LP lifted its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 107.7% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 110,092 shares of the healthcare product maker's stock after buying an additional 57,077 shares during the period. Woodline Partners LP's holdings in Abbott Laboratories were worth $14,604,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABT. Hughes Financial Services LLC bought a new position in shares of Abbott Laboratories in the first quarter worth about $27,000. Abound Financial LLC bought a new position in Abbott Laboratories in the 1st quarter valued at approximately $28,000. Elequin Capital LP bought a new stake in shares of Abbott Laboratories during the first quarter worth $30,000. JCIC Asset Management Inc. acquired a new position in shares of Abbott Laboratories during the first quarter worth $32,000. Finally, Vision Financial Markets LLC bought a new position in shares of Abbott Laboratories in the 1st quarter valued at $33,000. Institutional investors own 75.18% of the company's stock.

Analyst Ratings Changes

ABT has been the subject of a number of recent research reports. Leerink Partners assumed coverage on Abbott Laboratories in a report on Monday, June 16th. They issued a "market perform" rating and a $143.00 target price for the company. Morgan Stanley raised their price objective on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Mizuho lifted 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, July 16th. Raymond James Financial decreased their price target on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a research report on Friday, July 18th. Finally, BTIG Research reduced their price objective on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Abbott Laboratories has a consensus rating of "Moderate Buy" and a consensus price target of $144.47.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the 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 transaction, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.46% of the company's stock.

Abbott Laboratories Trading Up 1.0%

Shares of ABT traded up $1.27 during trading hours on Friday, hitting $133.92. 5,700,290 shares of the stock were exchanged, compared to its average volume of 4,674,658. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. The business has a 50-day moving average of $130.41 and a 200-day moving average of $131.32. The firm has a market capitalization of $233.08 billion, a P/E ratio of 16.78, a price-to-earnings-growth ratio of 2.52 and a beta of 0.69. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting analysts' consensus estimates of $1.26. The firm had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The business's revenue was up 7.4% compared to the same quarter last year. During the same period last year, the business posted $1.14 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. On average, research analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories 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.