Abbott Laboratories (NYSE:ABT) Price Target Raised to $136.00

Abbott Laboratories (NYSE:ABT) had its price target boosted by analysts at Evercore ISI to $136.00 in a report released on Thursday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the healthcare product maker’s stock. Evercore ISI’s price objective indicates a potential upside of 19.48% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Mizuho upped their target price on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. UBS Group upped their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Piper Sandler boosted their target price on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Morgan Stanley raised their price target on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Oppenheimer assumed coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective for the company. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $131.57.

Abbott Laboratories Stock Performance

ABT stock opened at $113.83 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $121.64. The business’s fifty day moving average is $115.47 and its 200-day moving average is $112.08. The company has a market cap of $197.43 billion, a P/E ratio of 34.60, a price-to-earnings-growth ratio of 2.69 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last released 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 for the quarter, compared to analyst estimates of $10.55 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 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 earnings per share. Equities research analysts forecast that Abbott Laboratories will post 4.67 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Groupama Asset Managment increased its holdings in Abbott Laboratories by 22.2% during the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 41,557 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Abbott Laboratories during the 3rd quarter worth about $31,000. Itau Unibanco Holding S.A. bought a new stake in shares of Abbott Laboratories in the 2nd quarter valued at about $32,000. Peterson Financial Group Inc. acquired a new stake in Abbott Laboratories in the 3rd quarter valued at about $32,000. Finally, Valued Wealth Advisors LLC grew its holdings in Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Company Profile

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.