Abbott Laboratories (NYSE:ABT – Get Free Report) had its target price lifted by analysts at UBS Group from $146.00 to $148.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the healthcare product maker’s stock. UBS Group’s price objective would indicate a potential upside of 25.68% from the stock’s current price.
ABT has been the topic of several other reports. Oppenheimer initiated coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective on the stock. Raymond James reiterated a “buy” rating and set a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $135.00 target price on shares of Abbott Laboratories in a report on Tuesday. Piper Sandler increased their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, Evercore ISI increased their target price on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $132.07.
View Our Latest Analysis on ABT
Abbott Laboratories Stock Performance
Abbott Laboratories (NYSE:ABT – Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11,029,400 billion. During the same period in the prior year, the business posted $1.19 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Analysts forecast that Abbott Laboratories will post 4.67 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of ABT. Groupama Asset Managment grew 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 valued at $26,000 after buying an additional 41,557 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of Abbott Laboratories in the 3rd quarter valued at $31,000. Peterson Financial Group Inc. purchased a new position in shares of Abbott Laboratories in the 3rd quarter valued at $32,000. Valued Wealth Advisors LLC grew 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 valued at $33,000 after buying an additional 127 shares during the last quarter. Finally, Highline Wealth Partners LLC purchased a new position in shares of Abbott Laboratories in the 3rd quarter valued at $37,000. 75.18% of the stock is owned by hedge funds and other 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.
Read More
- Five stocks we like better than Abbott Laboratories
- Retail Stocks Investing, Explained
- Momentum Builders: 3 Stocks Positioned to Shine This Quarter
- The 3 Best Retail Stocks to Shop for in August
- GitLab: AI-Driven DevSecOps Innovation Sets It Apart
- Overbought Stocks Explained: Should You Trade Them?
- DigitalOcean’s AI Potential: A Game-Changer for Growth
Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.