Abbott Laboratories (NYSE:ABT) Price Target Raised to $140.00 at Mizuho

Abbott Laboratories (NYSE:ABT) had its price target upped by analysts at Mizuho from $130.00 to $140.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the healthcare product maker’s stock. Mizuho’s price objective would indicate a potential upside of 6.54% from the company’s current price.

Other research analysts have also issued reports about the stock. Barclays increased their price target on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an “overweight” rating in a research note on Thursday, April 17th. Evercore ISI raised their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Wells Fargo & Company raised their price objective on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research note on Thursday, April 17th. Piper Sandler restated an “overweight” rating and set a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Finally, Leerink Partnrs upgraded shares of Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average target price of $144.33.

Abbott Laboratories Stock Down 0.5%

Shares of NYSE ABT opened at $131.41 on Wednesday. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23. The firm has a market capitalization of $228.63 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73. The firm has a fifty day simple moving average of $133.47 and a two-hundred day simple moving average of $129.31.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. Equities analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Insider Activity at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the business’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the transaction, the director owned 34,058 shares of the company’s stock, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Abbott Laboratories

A number of hedge funds have recently bought and sold shares of ABT. Cim LLC boosted its holdings in shares of Abbott Laboratories by 0.4% in the 4th quarter. Cim LLC now owns 16,967 shares of the healthcare product maker’s stock valued at $1,919,000 after buying an additional 73 shares in the last quarter. Capital Square LLC boosted its holdings in shares of Abbott Laboratories by 2.7% in the 4th quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker’s stock valued at $368,000 after buying an additional 77 shares in the last quarter. Consilium Wealth Advisory LLC raised its position in shares of Abbott Laboratories by 2.1% in the 1st quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker’s stock valued at $507,000 after purchasing an additional 78 shares during the last quarter. Mayflower Financial Advisors LLC boosted its stake in Abbott Laboratories by 0.5% in the 1st quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker’s stock worth $2,298,000 after purchasing an additional 78 shares in the last quarter. Finally, Cyrus J. Lawrence LLC boosted its stake in Abbott Laboratories by 9.0% in the 4th quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker’s stock worth $107,000 after purchasing an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

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.