Abbott Laboratories (NYSE:ABT – Get Free Report) shot up 0.4% on Monday . The stock traded as high as $117.42 and last traded at $116.87. 609,580 shares were traded during mid-day trading, a decline of 89% from the average session volume of 5,798,075 shares. The stock had previously closed at $116.40.
Analyst Ratings Changes
ABT has been the subject of several research analyst reports. Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Evercore ISI dropped their price objective on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Citigroup raised their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Barclays upped their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, The Goldman Sachs Group began coverage on Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective for the company. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $121.80.
Abbott Laboratories Stock Up 0.9 %
The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The business has a fifty day moving average of $109.24 and a two-hundred day moving average of $108.57. The company has a market cap of $204.32 billion, a price-to-earnings ratio of 36.57, a PEG ratio of 2.90 and a beta of 0.72.
Abbott Laboratories (NYSE:ABT – Get Free Report) last announced its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.08 EPS. As a group, equities analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current fiscal year.
Insider Buying and Selling
In other news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.10% of the stock is owned by company insiders.
Institutional Trading of Abbott Laboratories
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hanson & Doremus Investment Management lifted its stake in shares of Abbott Laboratories by 0.8% during the 2nd quarter. Hanson & Doremus Investment Management now owns 11,165 shares of the healthcare product maker’s stock worth $1,160,000 after purchasing an additional 92 shares during the period. Encompass More Asset Management lifted its position in Abbott Laboratories by 3.3% during the second quarter. Encompass More Asset Management now owns 3,002 shares of the healthcare product maker’s stock worth $312,000 after buying an additional 96 shares during the period. Wynn Capital LLC boosted its stake in Abbott Laboratories by 2.9% in the 1st quarter. Wynn Capital LLC now owns 3,427 shares of the healthcare product maker’s stock worth $390,000 after buying an additional 98 shares during the last quarter. Hummer Financial Advisory Services Inc increased its stake in shares of Abbott Laboratories by 1.2% during the 1st quarter. Hummer Financial Advisory Services Inc now owns 8,290 shares of the healthcare product maker’s stock valued at $942,000 after acquiring an additional 100 shares during the last quarter. Finally, NORTHSTAR ASSET MANAGEMENT Co LLC grew its holdings in Abbott Laboratories by 1.9% in the first quarter. NORTHSTAR ASSET MANAGEMENT Co LLC now owns 5,396 shares of the healthcare product maker’s stock valued at $613,000 after purchasing an additional 100 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.
Abbott Laboratories Company Profile
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.