Abbott Laboratories’ (ABT) “Buy” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their buy rating on shares of Abbott Laboratories (NYSE:ABT) in a research note issued to investors on Tuesday morning. They currently have a $65.00 price objective on the healthcare product maker’s stock.

A number of other brokerages have also issued reports on ABT. ValuEngine lowered Abbott Laboratories from a buy rating to a hold rating in a research report on Friday, December 1st. Barclays reissued a buy rating and issued a $66.00 price objective on shares of Abbott Laboratories in a report on Monday, January 8th. Stifel Nicolaus boosted their price objective on Abbott Laboratories from $58.00 to $63.00 and gave the company a buy rating in a report on Thursday, October 19th. BMO Capital Markets reissued a market perform rating on shares of Abbott Laboratories in a report on Thursday, October 19th. Finally, Zacks Investment Research raised Abbott Laboratories from a hold rating to a buy rating and set a $61.00 price objective for the company in a report on Tuesday, October 31st. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $60.24.

Shares of Abbott Laboratories (NYSE ABT) traded down $0.11 during midday trading on Tuesday, hitting $58.84. The stock had a trading volume of 6,320,942 shares, compared to its average volume of 6,520,000. Abbott Laboratories has a twelve month low of $39.25 and a twelve month high of $59.60. The stock has a market capitalization of $102,420.00, a price-to-earnings ratio of 48.63, a price-to-earnings-growth ratio of 1.88 and a beta of 1.55. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The business had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. During the same period in the previous year, the company earned $0.59 earnings per share. The company’s revenue for the quarter was up 28.8% compared to the same quarter last year. research analysts expect that Abbott Laboratories will post 2.5 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, January 11th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 1.90%. Abbott Laboratories’s dividend payout ratio is 92.56%.

In other news, insider Brian J. Blaser sold 23,866 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $55.55, for a total transaction of $1,325,756.30. Following the completion of the transaction, the insider now directly owns 146,387 shares of the company’s stock, valued at $8,131,797.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $56.21, for a total value of $5,430,054.63. Following the transaction, the executive vice president now directly owns 142,082 shares of the company’s stock, valued at $7,986,429.22. The disclosure for this sale can be found here. Insiders have sold 501,172 shares of company stock valued at $27,533,150 over the last ninety days. Corporate insiders own 0.76% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Rowland & Co. Investment Counsel ADV acquired a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $102,000. Heritage Trust Co boosted its position in shares of Abbott Laboratories by 10.1% during the second quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after buying an additional 200 shares during the period. Tributary Capital Management LLC acquired a new position in shares of Abbott Laboratories during the third quarter worth approximately $106,000. Winfield Associates Inc. boosted its position in shares of Abbott Laboratories by 3.9% during the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock worth $116,000 after buying an additional 89 shares during the period. Finally, Thompson Davis & CO. Inc. boosted its position in shares of Abbott Laboratories by 17.7% during the second quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock worth $120,000 after buying an additional 370 shares during the period. 71.15% of the stock is owned by institutional investors.

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About Abbott Laboratories

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

Analyst Recommendations for Abbott Laboratories (NYSE:ABT)

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