Abbott Laboratories (NYSE:ABT) Stock Price Expected to Rise, UBS Group Analyst Says

Abbott Laboratories (NYSE:ABTGet Free Report) had its price target boosted by UBS Group from $146.00 to $148.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the healthcare product maker’s stock. UBS Group’s target price indicates a potential upside of 18.29% from the stock’s previous close.

A number of other brokerages have also weighed in on ABT. Morgan Stanley lifted their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Sanford C. Bernstein boosted their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Royal Bank of Canada reissued an “outperform” rating and set a $135.00 price objective on shares of Abbott Laboratories in a research note on Tuesday. Evercore ISI raised their target price on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Finally, Raymond James reiterated a “buy” rating and issued a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average target price of $132.50.

Read Our Latest Report on ABT

Abbott Laboratories Trading Up 1.5 %

Shares of ABT opened at $125.12 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $125.67. The firm has a 50 day moving average price of $115.07 and a 200-day moving average price of $113.15. The firm has a market cap of $217.01 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 2.51 and a beta of 0.73.

Abbott Laboratories (NYSE:ABTGet Free Report) last issued its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting the consensus estimate of $1.34. The company had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11,029,400 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Abbott Laboratories’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.19 EPS. As a group, equities research analysts forecast that Abbott Laboratories will post 5.15 earnings per share for the current year.

Hedge Funds Weigh In On Abbott Laboratories

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace LLP lifted its position in shares of Abbott Laboratories by 848.8% during the second quarter. Marshall Wace LLP now owns 216,337 shares of the healthcare product maker’s stock valued at $22,480,000 after buying an additional 193,537 shares during the last quarter. AQR Capital Management LLC lifted its position in Abbott Laboratories by 4.6% during the second quarter. AQR Capital Management LLC now owns 871,196 shares of the healthcare product maker’s stock valued at $90,421,000 after acquiring an additional 38,676 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Abbott Laboratories by 5.0% in the second quarter. Ameriprise Financial Inc. now owns 10,675,827 shares of the healthcare product maker’s stock valued at $1,103,997,000 after acquiring an additional 508,524 shares in the last quarter. Dundas Partners LLP grew its holdings in Abbott Laboratories by 2.1% in the second quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock worth $34,313,000 after purchasing an additional 6,897 shares during the last quarter. Finally, DSM Capital Partners LLC lifted its holdings in shares of Abbott Laboratories by 6.7% during the 2nd quarter. DSM Capital Partners LLC now owns 9,131 shares of the healthcare product maker’s stock valued at $949,000 after purchasing an additional 570 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

About Abbott Laboratories

(Get Free Report)

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.

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