Abbott Laboratories (NYSE:ABT) Given New $140.00 Price Target at Barclays

Abbott Laboratories (NYSE:ABT - Get Free Report) had its target price cut by Barclays from $141.00 to $140.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an "overweight" rating on the healthcare product maker's stock. Barclays's price objective suggests a potential upside of 30.76% from the stock's current price.

Other equities analysts also recently issued research reports about the stock. Evercore ISI boosted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, April 4th. Raymond James raised their price target on shares of Abbott Laboratories from $124.00 to $127.00 and gave the company an "outperform" rating in a research note on Thursday, January 25th. Citigroup boosted their price objective on Abbott Laboratories from $126.00 to $128.00 and gave the stock a "buy" rating in a research report on Wednesday, April 3rd. Finally, Royal Bank of Canada lowered their target price on Abbott Laboratories from $128.00 to $125.00 and set an "outperform" rating on the stock in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $121.80.

Abbott Laboratories Price Performance

Abbott Laboratories stock traded down $0.21 during trading hours on Monday, hitting $107.07. The stock had a trading volume of 4,940,198 shares, compared to its average volume of 5,752,482. The stock's fifty day moving average is $114.08 and its two-hundred day moving average is $107.90. The stock has a market capitalization of $185.79 billion, a price-to-earnings ratio of 33.36, a PEG ratio of 2.58 and a beta of 0.74. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.16. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The firm had revenue of $9.96 billion for the quarter, compared to analysts' expectations of $9.88 billion. During the same quarter last year, the firm earned $1.03 earnings per share. The firm's revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Insider Activity

In related news, VP John A. Jr. Mccoy sold 472 shares of the firm's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the transaction, the vice president now owns 18,760 shares in the company, valued at $2,223,060. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $112.50, for a total value of $4,781,250.00. Following the completion of the sale, the executive vice president now directly owns 65,027 shares in the company, valued at $7,315,537.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the sale, the vice president now directly owns 18,760 shares of the company's stock, valued at $2,223,060. The disclosure for this sale can be found here. Insiders have sold 56,435 shares of company stock valued at $6,451,298 over the last three months. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Abbott Laboratories

Several institutional investors have recently bought and sold shares of ABT. Zevenbergen Capital Investments LLC boosted its holdings in shares of Abbott Laboratories by 0.6% in the 3rd quarter. Zevenbergen Capital Investments LLC now owns 21,419 shares of the healthcare product maker's stock valued at $2,074,000 after buying an additional 130 shares during the last quarter. Perigon Wealth Management LLC grew its position in shares of Abbott Laboratories by 5.2% in the 4th quarter. Perigon Wealth Management LLC now owns 47,080 shares of the healthcare product maker's stock valued at $5,182,000 after acquiring an additional 2,317 shares during the period. Rockland Trust Co. raised its holdings in shares of Abbott Laboratories by 1.5% in the 3rd quarter. Rockland Trust Co. now owns 91,868 shares of the healthcare product maker's stock valued at $8,897,000 after purchasing an additional 1,343 shares during the period. VisionPoint Advisory Group LLC lifted its position in shares of Abbott Laboratories by 7.4% in the third quarter. VisionPoint Advisory Group LLC now owns 3,106 shares of the healthcare product maker's stock valued at $301,000 after buying an additional 215 shares during the last quarter. Finally, Gradient Investments LLC lifted its holdings in Abbott Laboratories by 4.7% during the 4th quarter. Gradient Investments LLC now owns 257,508 shares of the healthcare product maker's stock valued at $28,344,000 after purchasing an additional 11,508 shares during the last quarter. Institutional investors 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.