Abbott Laboratories (NYSE:ABT) PT Raised to $125.00 at Jefferies Financial Group

Abbott Laboratories (NYSE:ABT) had its target price hoisted by equities research analysts at Jefferies Financial Group from $120.00 to $125.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the healthcare product maker’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 6.32% from the stock’s previous close.

ABT has been the subject of a number of other research reports. Piper Sandler lifted their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday. Evercore ISI boosted their price objective on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Oppenheimer initiated coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective for the company. Barclays boosted their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada boosted their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $127.07.

Abbott Laboratories Price Performance

ABT stock traded down $0.25 during trading on Thursday, reaching $117.57. 584,026 shares of the company were exchanged, compared to its average volume of 5,704,131. The company has a market cap of $204.53 billion, a P/E ratio of 36.77, a PEG ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 52-week low of $91.64 and a 52-week high of $121.64. The stock’s 50 day moving average price is $113.60 and its 200 day moving average price is $108.40. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The firm had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.14 earnings per share. As a group, analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Institutional Trading of Abbott Laboratories

Several institutional investors have recently added to or reduced their stakes in ABT. Unique Wealth Strategies LLC acquired a new stake in Abbott Laboratories in the second quarter valued at $28,000. Redmont Wealth Advisors LLC acquired a new stake in Abbott Laboratories in the first quarter valued at $30,000. Future Financial Wealth Managment LLC acquired a new stake in Abbott Laboratories in the third quarter valued at $31,000. Itau Unibanco Holding S.A. acquired a new stake in Abbott Laboratories in the second quarter valued at $32,000. Finally, Ridgewood Investments LLC acquired a new stake in Abbott Laboratories in the second quarter valued at $37,000. 75.18% of the stock is owned by institutional investors and hedge funds.

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.