Sanford C. Bernstein Increases Abbott Laboratories (NYSE:ABT) Price Target to $150.00

Key Points

• Sanford C. Bernstein raised its price target for Abbott Laboratories from $145.00 to $150.00, indicating a potential upside of 16.15% based on the company's previous close.
• Abbott Laboratories reported earnings of $1.30 EPS for the quarter, meeting analysts' consensus estimates, with revenue of $11.37 billion which was slightly below expectations.
• Currently, 75.18% of Abbott's stock is owned by institutional investors, reflecting strong institutional interest in the company.

Abbott Laboratories (NYSE:ABT - Get Free Report) had its price target boosted by analysts at Sanford C. Bernstein from $145.00 to $150.00 in a note issued to investors on Thursday,MarketScreener reports. The firm currently has an "outperform" rating on the healthcare product maker's stock. Sanford C. Bernstein's price objective points to a potential upside of 16.15% from the company's previous close.

Several other equities research analysts have also recently weighed in on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Abbott Laboratories in a report on Wednesday, October 8th. Raymond James Financial reduced their price objective on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a research report on Friday, July 18th. Mizuho lifted their target price on Abbott Laboratories from $135.00 to $140.00 and gave the stock a "neutral" rating in a report on Tuesday. Royal Bank Of Canada lifted their target price on Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Finally, Wells Fargo & Company reduced their target price on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $147.22.

Abbott Laboratories Stock Down 0.2%

ABT stock opened at $129.14 on Thursday. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The stock's fifty day simple moving average is $132.59 and its two-hundred day simple moving average is $131.60. The stock has a market cap of $224.77 billion, a P/E ratio of 16.24, a P/E/G ratio of 2.53 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting analysts' consensus estimates of $1.30. The firm had revenue of $11.37 billion for the quarter, compared to analysts' expectations of $11.40 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The business's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Insider Activity at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the sale, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company's stock.

Institutional Investors Weigh In On Abbott Laboratories

Large investors have recently added to or reduced their stakes in the stock. IMG Wealth Management Inc. increased its stake in Abbott Laboratories by 759.1% during the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker's stock worth $26,000 after acquiring an additional 167 shares during the last quarter. Hughes Financial Services LLC purchased a new stake in shares of Abbott Laboratories in the first quarter valued at approximately $27,000. Abound Financial LLC purchased a new stake in shares of Abbott Laboratories in the first quarter valued at approximately $28,000. Elequin Capital LP purchased a new stake in shares of Abbott Laboratories in the first quarter valued at approximately $30,000. Finally, JCIC Asset Management Inc. purchased a new stake in shares of Abbott Laboratories in the first quarter valued at approximately $32,000. 75.18% of the stock is owned by institutional investors.

About Abbott Laboratories

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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