Sanford C. Bernstein Increases Abbott Laboratories (NYSE:ABT) Price Target to $138.00

Abbott Laboratories (NYSE:ABT) had its price objective hoisted by Sanford C. Bernstein from $133.00 to $138.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the healthcare product maker’s stock. Sanford C. Bernstein’s price target points to a potential upside of 15.59% from the stock’s previous close.

A number of other research firms have also recently weighed in on ABT. Barclays upped their price target on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Raymond James reissued a “buy” rating and issued a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. UBS Group lifted their target price on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Finally, Piper Sandler boosted their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $129.67.

Abbott Laboratories Stock Up 1.3 %

Shares of ABT opened at $119.39 on Thursday. The stock’s 50-day moving average price is $113.97 and its 200-day moving average price is $108.52. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $207.69 billion, a price-to-earnings ratio of 37.19, a PEG ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 52 week low of $91.64 and a 52 week high of $121.64.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 EPS. On average, sell-side analysts predict 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 the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Abbott Laboratories

Several large investors have recently bought and sold shares of ABT. Schaper Benz & Wise Investment Counsel Inc. WI raised its stake in shares of Abbott Laboratories by 1.2% during the 3rd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 168,150 shares of the healthcare product maker’s stock worth $19,171,000 after buying an additional 2,053 shares during the last quarter. New Century Financial Group LLC increased its holdings in Abbott Laboratories by 3.7% during the 3rd quarter. New Century Financial Group LLC now owns 5,014 shares of the healthcare product maker’s stock valued at $572,000 after acquiring an additional 178 shares in the last quarter. Resonant Capital Advisors LLC lifted its holdings in shares of Abbott Laboratories by 2.2% in the third quarter. Resonant Capital Advisors LLC now owns 13,399 shares of the healthcare product maker’s stock valued at $1,528,000 after purchasing an additional 283 shares in the last quarter. Revolve Wealth Partners LLC acquired a new stake in shares of Abbott Laboratories in the third quarter valued at approximately $362,000. Finally, Waypoint Capital Advisors LLC increased its stake in shares of Abbott Laboratories by 3.2% during the 3rd quarter. Waypoint Capital Advisors LLC now owns 6,886 shares of the healthcare product maker’s stock worth $785,000 after purchasing an additional 214 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

About Abbott Laboratories

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.