Abbott Laboratories (NYSE:ABT) Price Target Raised to $124.00 at Evercore ISI

Abbott Laboratories (NYSE:ABT) had its price objective increased by investment analysts at Evercore ISI from $120.00 to $124.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the healthcare product maker’s stock. Evercore ISI’s target price would indicate a potential upside of 8.88% from the company’s current price.

ABT has been the topic of a number of other reports. Royal Bank of Canada reiterated an “outperform” rating and set a $125.00 price target on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Piper Sandler initiated coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target on the stock. Citigroup boosted their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Barclays upped their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $120.00 price target on shares of Abbott Laboratories in a research note on Thursday, September 26th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $124.33.

Abbott Laboratories Trading Down 0.1 %

Shares of NYSE ABT traded down $0.12 during trading on Tuesday, hitting $113.89. 987,556 shares of the company were exchanged, compared to its average volume of 5,771,948. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The company has a fifty day moving average price of $111.78 and a 200-day moving average price of $108.16. The firm has a market capitalization of $198.13 billion, a PE ratio of 35.48, a P/E/G ratio of 2.86 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. The business 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 company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.08 EPS. As a group, equities research analysts expect that Abbott Laboratories will post 4.66 EPS for the current year.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Abbott Laboratories

A number of institutional investors have recently modified their holdings of the business. Unique Wealth Strategies LLC acquired a new position in shares of Abbott Laboratories in the second quarter worth $28,000. Transcendent Capital Group LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter worth $29,000. Richardson Financial Services Inc. acquired a new position in shares of Abbott Laboratories in the fourth quarter worth $29,000. Redmont Wealth Advisors LLC acquired a new position in shares of Abbott Laboratories in the first quarter worth $30,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Abbott Laboratories in the second quarter worth $32,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

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.