Abbott Laboratories (ABT) Stock Rating Reaffirmed by Leerink Swann

Leerink Swann reaffirmed their market perform rating on shares of Abbott Laboratories (NYSE:ABT) in a research report report published on Friday.

Several other brokerages have also recently commented on ABT. Barclays reaffirmed a buy rating and issued a $66.00 target price on shares of Abbott Laboratories in a research report on Monday, January 8th. Royal Bank of Canada reaffirmed a buy rating and issued a $65.00 target price on shares of Abbott Laboratories in a research report on Tuesday, January 9th. Zacks Investment Research raised Abbott Laboratories from a hold rating to a buy rating and set a $64.00 target price for the company in a research report on Tuesday, January 2nd. Evercore ISI began coverage on Abbott Laboratories in a research report on Wednesday, January 3rd. They issued an outperform rating and a $64.00 target price for the company. Finally, Morgan Stanley raised Abbott Laboratories from an equal weight rating to an overweight rating and set a $67.00 target price for the company in a research report on Tuesday, January 2nd. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $60.24.

Shares of Abbott Laboratories (NYSE:ABT) traded up $0.24 during trading on Friday, hitting $59.31. The stock had a trading volume of 7,362,958 shares, compared to its average volume of 6,410,000. The firm has a market capitalization of $103,240.00, a PE ratio of 49.02, a PEG ratio of 1.88 and a beta of 1.55. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. Abbott Laboratories has a 1-year low of $39.25 and a 1-year high of $59.68.

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

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a dividend of $0.28 per share. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. The ex-dividend date is Thursday, January 11th. This represents a $1.12 dividend on an annualized basis and a yield of 1.89%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 92.56%.

In related news, Chairman Miles D. White sold 276,886 shares of Abbott Laboratories stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total transaction of $15,065,367.26. Following the completion of the sale, the chairman now owns 3,677,913 shares of the company’s stock, valued at $200,115,246.33. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Daniel Gesua Sive Salvadori sold 28,319 shares of Abbott Laboratories stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $54.92, for a total value of $1,555,279.48. Following the sale, the insider now directly owns 102,117 shares of the company’s stock, valued at approximately $5,608,265.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 501,172 shares of company stock valued at $27,533,150. Insiders own 0.76% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Winslow Evans & Crocker Inc. raised its holdings in Abbott Laboratories by 4.2% during the fourth quarter. Winslow Evans & Crocker Inc. now owns 28,888 shares of the healthcare product maker’s stock valued at $1,649,000 after buying an additional 1,176 shares in the last quarter. Ingalls & Snyder LLC bought a new position in Abbott Laboratories during the fourth quarter valued at about $14,258,000. TRUE Private Wealth Advisors raised its holdings in Abbott Laboratories by 134.6% during the fourth quarter. TRUE Private Wealth Advisors now owns 10,135 shares of the healthcare product maker’s stock valued at $578,000 after buying an additional 5,814 shares in the last quarter. Personal Capital Advisors Corp bought a new position in Abbott Laboratories during the fourth quarter valued at about $352,000. Finally, Naples Global Advisors LLC bought a new position in Abbott Laboratories during the fourth quarter valued at about $306,000. 71.19% of the stock is owned by hedge funds and other institutional investors.

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Abbott Laboratories Company Profile

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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