Royal Bank of Canada Reaffirms “Outperform” Rating for Abbott Laboratories (NYSE:ABT)

Abbott Laboratories (NYSE:ABT)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank of Canada in a note issued to investors on Tuesday,Benzinga reports. They presently have a $135.00 target price on the healthcare product maker’s stock. Royal Bank of Canada’s target price indicates a potential upside of 14.64% from the stock’s current price.

A number of other brokerages have also recently issued reports on ABT. Morgan Stanley lifted their price objective 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 price target on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Barclays upped their price objective on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Mizuho boosted their target price on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Raymond James restated a “buy” rating and issued a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $131.93.

Abbott Laboratories Stock Up 0.8 %

Shares of ABT opened at $117.76 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $204.25 billion, a PE ratio of 35.79, a P/E/G ratio of 2.43 and a beta of 0.73. The firm’s 50 day moving average is $114.87 and its 200-day moving average is $113.04. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data 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 firm 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 20.18% and a net margin of 13.99%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.19 EPS. Equities research analysts forecast that Abbott Laboratories will post 4.67 EPS for the current year.

Institutional Trading of Abbott Laboratories

Institutional investors have recently added to or reduced their stakes in the stock. Groupama Asset Managment lifted its position in shares of Abbott Laboratories by 22.2% in the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 41,557 shares during the period. Future Financial Wealth Managment LLC acquired a new position in Abbott Laboratories in the third quarter valued at $31,000. Peterson Financial Group Inc. acquired a new stake in Abbott Laboratories during the 3rd quarter worth about $32,000. Valued Wealth Advisors LLC raised its position in shares of Abbott Laboratories by 78.4% in the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after acquiring an additional 127 shares in the last quarter. Finally, Highline Wealth Partners LLC acquired a new position in shares of Abbott Laboratories in the 3rd quarter valued at about $37,000. 75.18% of the stock is currently owned by institutional investors.

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.