Abbott Laboratories (NYSE:ABT) Stock Has Consensus Target Price of $118.32 According to Brokerages

Shares of Abbott Laboratories (NYSE:ABT) have earned an average recommendation of “Moderate Buy” from the twenty-eight analysts that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, twenty-one have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $118.32.

Several research firms recently commented on ABT. Robert W. Baird lifted their price objective on Abbott Laboratories from $121.00 to $123.00 and gave the stock an “outperform” rating in a report on Thursday, October 22nd. Piper Sandler restated an “overweight” rating and set a $118.00 target price (up from $115.00) on shares of Abbott Laboratories in a research note on Friday, July 17th. TD Cowen dropped their price target on shares of Abbott Laboratories from $135.00 to $118.00 and set a “buy” rating on the stock in a report on Thursday, October 22nd. Rothschild & Co Redburn upgraded shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $119.00 to $127.00 in a research note on Friday, October 2nd. Finally, Royal Bank Of Canada reduced their price target on shares of Abbott Laboratories from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, October 22nd.

Abbott Laboratories Trading Up 1.7%

Shares of NYSE ABT opened at $106.33 on Monday. The firm’s 50 day moving average price is $104.36 and its 200-day moving average price is $102.06. The company has a market cap of $183.99 billion, a PE ratio of 39.68, a P/E/G ratio of 1.83 and a beta of 0.59. Abbott Laboratories has a 52-week low of $81.97 and a 52-week high of $132.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.38.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 21st. The healthcare product maker reported $1.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.42. Abbott Laboratories had a net margin of 9.75% and a return on equity of 17.97%. The company had revenue of $13.01 billion during the quarter, compared to analyst estimates of $12.99 billion. During the same period in the previous year, the business earned $1.30 EPS. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, equities research analysts expect that Abbott Laboratories will post 5.52 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Thursday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 94.03%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ABT. BlackRock Inc. grew its stake in shares of Abbott Laboratories by 4.6% during the 2nd quarter. BlackRock Inc. now owns 152,563,476 shares of the healthcare product maker’s stock valued at $13,843,610,000 after buying an additional 6,769,518 shares during the period. State Street Corp boosted its holdings in Abbott Laboratories by 1.7% in the second quarter. State Street Corp now owns 80,926,234 shares of the healthcare product maker’s stock valued at $7,343,246,000 after acquiring an additional 1,350,766 shares during the last quarter. Bank of America Corp DE purchased a new stake in Abbott Laboratories during the second quarter valued at about $1,603,607,000. Deutsche Bank AG grew its position in Abbott Laboratories by 18.6% during the second quarter. Deutsche Bank AG now owns 16,706,669 shares of the healthcare product maker’s stock valued at $1,515,963,000 after acquiring an additional 2,614,965 shares during the period. Finally, Legal & General Group Plc acquired a new stake in Abbott Laboratories during the second quarter worth about $1,082,524,000. Institutional investors own 75.18% of the company’s stock.

More Abbott Laboratories News

Here are the key news stories impacting Abbott Laboratories this week:

• Positive Sentiment: Abbott began the pivotal CROWN-MV trial for its investigational Cephea Mitral Valve System, designed as a minimally invasive treatment for symptomatic mitral valve disease patients who are ineligible for surgery or transcatheter repair. Successful development could expand Abbott’s structural-heart portfolio, although the device remains investigational and carries clinical and regulatory risk. Abbott initiates pivotal trial for Cephea device
• Positive Sentiment: Industry reports forecast strong expansion in point-of-care diagnostics across South and Central America and continued growth in home INR monitoring. Abbott is listed among the key suppliers, suggesting potential long-term opportunities for its diagnostics business through testing volume, instruments and recurring consumables. South and Central America point-of-care diagnostics market Point-of-care INR testing market
• Neutral Sentiment: Discussion of Abbott’s approaching breakup highlights the potential for value creation through separating businesses, but also raises questions about execution, valuation and how costs and growth prospects will be allocated among the resulting companies. Can Abbott Laboratories Stay Reasonable As Its Breakup Nears?
• Negative Sentiment: Dexcom exceeded expectations and raised guidance, underscoring robust demand for continuous glucose-monitoring wearables but also intensifying competitive pressure on Abbott’s FreeStyle Libre franchise. Stronger execution by Dexcom could weigh on expectations for Abbott’s diabetes-care growth. Dexcom shakes off Abbott-tied malaise
• Negative Sentiment: Argus downgraded Abbott Laboratories, adding a near-term valuation and analyst-sentiment headwind. Abbott Laboratories stock gets downgrade from Argus

About Abbott Laboratories

Abbott Laboratories is a global healthcare company that develops, manufactures and markets a broad range of medical products and services. Founded in 1888 by Wallace C. Abbott, the company is headquartered in Abbott Park, Illinois, and serves patients, healthcare providers and consumers in markets around the world.

Abbott operates across four principal businesses: medical devices, diagnostics, nutrition and established pharmaceutical products. Its offerings include glucose-monitoring systems such as FreeStyle Libre; cardiovascular devices, including stents and structural heart products; laboratory and point-of-care diagnostic systems; and branded generic medicines in areas such as gastroenterology, women’s health and cardiometabolic care.

The company’s nutrition portfolio includes infant and pediatric products such as Similac and PediaSure, adult nutritional products such as Ensure, and rehydration products such as Pedialyte.