Abbott Laboratories (NYSE:ABT) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Abbott Laboratories (NYSE:ABT) have earned a consensus recommendation of “Buy” from the eighteen ratings firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $87.94.

ABT has been the topic of a number of analyst reports. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 price objective on the stock. in a research note on Wednesday, August 21st. ValuEngine lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Raymond James decreased their target price on Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Credit Suisse Group upped their target price on Abbott Laboratories from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, William Blair restated an “underperform” rating on shares of Abbott Laboratories in a research note on Thursday, October 17th.

In other news, SVP Randel William Woodgrift sold 21,000 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $80.54, for a total value of $1,691,340.00. Following the completion of the transaction, the senior vice president now directly owns 68,562 shares in the company, valued at approximately $5,521,983.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in shares of Abbott Laboratories by 3.8% during the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 3,176 shares of the healthcare product maker’s stock worth $267,000 after purchasing an additional 116 shares in the last quarter. MCF Advisors LLC increased its position in shares of Abbott Laboratories by 4.1% in the 2nd quarter. MCF Advisors LLC now owns 2,972 shares of the healthcare product maker’s stock valued at $250,000 after acquiring an additional 118 shares during the period. Institute for Wealth Management LLC. increased its position in shares of Abbott Laboratories by 2.3% in the 2nd quarter. Institute for Wealth Management LLC. now owns 5,379 shares of the healthcare product maker’s stock valued at $452,000 after acquiring an additional 122 shares during the period. Appleton Partners Inc. MA increased its position in shares of Abbott Laboratories by 0.5% in the 3rd quarter. Appleton Partners Inc. MA now owns 24,589 shares of the healthcare product maker’s stock valued at $2,057,000 after acquiring an additional 123 shares during the period. Finally, M&R Capital Management Inc. increased its position in shares of Abbott Laboratories by 0.5% in the 2nd quarter. M&R Capital Management Inc. now owns 26,084 shares of the healthcare product maker’s stock valued at $2,193,000 after acquiring an additional 126 shares during the period. Hedge funds and other institutional investors own 73.66% of the company’s stock.

Shares of NYSE:ABT traded down $0.94 during midday trading on Wednesday, reaching $84.51. 3,795,770 shares of the company traded hands, compared to its average volume of 5,291,160. The company has a quick ratio of 1.12, a current ratio of 1.54 and a debt-to-equity ratio of 0.55. Abbott Laboratories has a 12 month low of $65.44 and a 12 month high of $88.76. The firm has a market capitalization of $151.11 billion, a price-to-earnings ratio of 29.34, a price-to-earnings-growth ratio of 2.47 and a beta of 1.12. The firm’s fifty day moving average price is $83.06 and its two-hundred day moving average price is $82.98.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $0.84 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.84. Abbott Laboratories had a return on equity of 17.65% and a net margin of 10.50%. The company had revenue of $8.08 billion for the quarter, compared to analyst estimates of $8.10 billion. During the same period in the previous year, the company posted $0.75 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. Analysts forecast that Abbott Laboratories will post 3.24 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were paid a $0.32 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.28 dividend on an annualized basis and a yield of 1.51%. Abbott Laboratories’s dividend payout ratio is currently 44.44%.

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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Analyst Recommendations for Abbott Laboratories (NYSE:ABT)

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