Abbott Laboratories (NYSE:ABT) had its price target raised by Cowen from $86.00 to $95.00 in a report issued on Thursday, The Fly reports. The brokerage currently has an outperform rating on the healthcare product maker’s stock.
Several other brokerages have also recently issued reports on ABT. BMO Capital Markets decreased their price target on shares of Comerica to $78.00 and set a market perform rating for the company in a research report on Thursday. William Blair restated an outperform rating on shares of Abbott Laboratories in a research report on Thursday, April 18th. Bank of America set a $10.00 price target on shares of HEXO and gave the company a buy rating in a research report on Thursday, June 13th. Wells Fargo & Co reiterated a hold rating on shares of Medidata Solutions in a research report on Thursday, June 13th. Finally, Morgan Stanley decreased their price objective on shares of Neon Therapeutics from $19.00 to $13.00 and set an overweight rating for the company in a research report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the stock. Abbott Laboratories has a consensus rating of Buy and an average target price of $85.82.
ABT stock opened at $87.49 on Thursday. The stock’s 50 day moving average is $82.95. The firm has a market cap of $154.35 billion, a PE ratio of 30.38, a price-to-earnings-growth ratio of 2.44 and a beta of 1.10. Abbott Laboratories has a 1 year low of $62.87 and a 1 year high of $88.32. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.13 and a current ratio of 1.58.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.02. Abbott Laboratories had a net margin of 9.36% and a return on equity of 17.39%. The firm had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8 billion. During the same period in the prior year, the company posted $0.73 EPS. The company’s revenue was up 2.7% on a year-over-year basis. On average, analysts predict that Abbott Laboratories will post 3.24 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, July 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 44.44%.
In other Abbott Laboratories news, insider Brian J. Blaser sold 450,062 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $75.52, for a total value of $33,988,682.24. Following the transaction, the insider now directly owns 295,745 shares of the company’s stock, valued at $22,334,662.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jaime Contreras sold 82,732 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $70.00, for a total transaction of $5,791,240.00. Following the completion of the transaction, the senior vice president now directly owns 80,722 shares in the company, valued at $5,650,540. The disclosure for this sale can be found here. Insiders sold 1,198,992 shares of company stock worth $93,769,951 over the last ninety days. Insiders own 0.70% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. M&R Capital Management Inc. increased its holdings in Abbott Laboratories by 1.5% during the fourth quarter. M&R Capital Management Inc. now owns 25,957 shares of the healthcare product maker’s stock worth $1,877,000 after buying an additional 381 shares during the last quarter. Northern Trust Corp increased its holdings in Abbott Laboratories by 2.7% during the fourth quarter. Northern Trust Corp now owns 26,603,904 shares of the healthcare product maker’s stock worth $1,924,260,000 after buying an additional 708,691 shares during the last quarter. Krueger & Catalano Capital Partners LLC purchased a new stake in Abbott Laboratories during the first quarter worth about $244,000. Barometer Capital Management Inc. purchased a new stake in Abbott Laboratories during the fourth quarter worth about $8,251,000. Finally, Eagle Ridge Investment Management increased its holdings in Abbott Laboratories by 0.9% during the fourth quarter. Eagle Ridge Investment Management now owns 178,095 shares of the healthcare product maker’s stock worth $12,882,000 after buying an additional 1,606 shares during the last quarter. 73.38% of the stock is currently owned by hedge funds and other institutional investors.
About Abbott Laboratories
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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