StockNews.com Downgrades Abbott Laboratories (NYSE:ABT) to Buy

Abbott Laboratories (NYSE:ABT) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday.

Other research analysts have also issued research reports about the stock. Stifel Nicolaus raised their price target on shares of Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Jefferies Financial Group increased their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Wells Fargo & Company increased their price objective on shares of Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Argus raised shares of Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, UBS Group increased their price objective on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.06.

Abbott Laboratories Trading Up 0.1 %

Shares of ABT stock opened at $131.48 on Wednesday. The firm has a 50-day moving average price of $117.75 and a 200 day moving average price of $115.42. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $132.50. The company has a market capitalization of $228.04 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 2.39 and a beta of 0.75. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting analysts’ consensus estimates of $1.34. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.19 EPS. Research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Insider Activity at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of the sale, the executive vice president now owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Groupama Asset Managment increased its position in shares of Abbott Laboratories by 22.2% during the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 41,557 shares during the period. Noble Wealth Management PBC bought a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $26,000. NewSquare Capital LLC increased its position in shares of Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after purchasing an additional 105 shares during the period. Rialto Wealth Management LLC bought a new stake in Abbott Laboratories in the fourth quarter valued at $29,000. Finally, Peterson Financial Group Inc. bought a new stake in Abbott Laboratories in the third quarter valued at $32,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

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.