Raymond James Financial Has Lowered Expectations for Abbott Laboratories (NYSE:ABT) Stock Price

Abbott Laboratories (NYSE:ABT - Get Free Report) had its target price dropped by stock analysts at Raymond James Financial from $142.00 to $141.00 in a research report issued on Friday,Benzinga reports. The firm currently has an "outperform" rating on the healthcare product maker's stock. Raymond James Financial's price target points to a potential upside of 13.31% from the company's previous close.

ABT has been the subject of several other research reports. Jefferies Financial Group raised Abbott Laboratories from a "hold" rating to a "buy" rating and increased their price target for the company from $143.00 to $145.00 in a research note on Friday. Stifel Nicolaus raised their target price on Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Leerink Partners started coverage on Abbott Laboratories in a research note on Monday, June 16th. They set a "market perform" rating and a $143.00 target price for the company. Piper Sandler reaffirmed an "overweight" rating and set a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Finally, Royal Bank Of Canada raised their target price on Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a research note on Tuesday. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $144.74.

Abbott Laboratories Trading Up 3.3%

Abbott Laboratories stock traded up $3.93 during trading hours on Friday, hitting $124.44. The stock had a trading volume of 6,608,748 shares, compared to its average volume of 6,225,813. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. The stock has a market cap of $216.51 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 2.50 and a beta of 0.73. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. The business's 50 day simple moving average is $133.17 and its 200-day simple moving average is $129.38.

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, meeting the consensus estimate of $1.26. The company had revenue of $11.14 billion during the quarter, compared to analysts' expectations of $11.01 billion. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. The business's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 earnings per share. On average, equities analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Insider Activity

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 transaction of $337,116.00. Following the transaction, the director owned 34,058 shares of the company's stock, valued at $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Cim LLC boosted its position in Abbott Laboratories by 0.4% in the fourth quarter. Cim LLC now owns 16,967 shares of the healthcare product maker's stock worth $1,919,000 after purchasing an additional 73 shares during the last quarter. Capital Square LLC raised its stake in shares of Abbott Laboratories by 2.7% in the fourth quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker's stock valued at $368,000 after buying an additional 77 shares during the period. Consilium Wealth Advisory LLC raised its stake in shares of Abbott Laboratories by 2.1% in the first quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker's stock valued at $507,000 after buying an additional 78 shares during the period. Mayflower Financial Advisors LLC raised its stake in shares of Abbott Laboratories by 0.5% in the first quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker's stock valued at $2,298,000 after buying an additional 78 shares during the period. Finally, Cyrus J. Lawrence LLC raised its stake in shares of Abbott Laboratories by 9.0% in the fourth quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker's stock valued at $107,000 after buying an additional 79 shares during the period. Hedge funds and other 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.

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