Abbott Laboratories (NYSE:ABT) Stock Rating Upgraded by StockNews.com

Abbott Laboratories (NYSE:ABT) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday.

Other equities analysts also recently issued research reports about the company. Morgan Stanley increased their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Oppenheimer initiated coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective on the stock. UBS Group lifted their target price on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Mizuho upped their price target on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company lifted their price objective on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.06.

Abbott Laboratories Trading Up 0.6 %

ABT traded up $0.73 during midday trading on Tuesday, reaching $129.18. 6,957,177 shares of the company’s stock traded hands, compared to its average volume of 7,189,099. The stock has a market capitalization of $224.06 billion, a price-to-earnings ratio of 16.89, a P/E/G ratio of 2.39 and a beta of 0.74. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $129.85. The firm has a fifty day moving average of $116.58 and a two-hundred day moving average of $114.52. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting analysts’ consensus estimates of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. During the same quarter last year, the firm posted $1.19 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. On average, equities analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.47% of the stock is currently owned by corporate insiders.

Institutional Trading of Abbott Laboratories

Several institutional investors have recently made changes to their positions in the business. Richard Bernstein Advisors LLC raised its holdings in shares of Abbott Laboratories by 75.9% during the 4th quarter. Richard Bernstein Advisors LLC now owns 59,316 shares of the healthcare product maker’s stock worth $6,709,000 after acquiring an additional 25,587 shares in the last quarter. Lake Street Advisors Group LLC increased its position in Abbott Laboratories by 5.5% in the fourth quarter. Lake Street Advisors Group LLC now owns 17,855 shares of the healthcare product maker’s stock worth $2,020,000 after purchasing an additional 936 shares during the last quarter. JFG Wealth Management LLC purchased a new stake in Abbott Laboratories during the fourth quarter valued at $245,000. Kirtland Hills Capital Management LLC lifted its position in Abbott Laboratories by 2.9% during the fourth quarter. Kirtland Hills Capital Management LLC now owns 4,276 shares of the healthcare product maker’s stock valued at $484,000 after purchasing an additional 122 shares during the last quarter. Finally, FFT Wealth Management LLC grew its stake in shares of Abbott Laboratories by 12.9% in the 4th quarter. FFT Wealth Management LLC now owns 3,998 shares of the healthcare product maker’s stock worth $452,000 after buying an additional 458 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

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.