Mizuho Increases Abbott Laboratories (NYSE:ABT) Price Target to $130.00

Abbott Laboratories (NYSE:ABT) had its price target upped by equities research analysts at Mizuho from $115.00 to $130.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the healthcare product maker’s stock. Mizuho’s target price would suggest a potential upside of 8.89% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Barclays increased their target price on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Piper Sandler Companies started coverage on Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective on the stock. Evercore ISI raised their price objective on Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Citigroup raised their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $129.67.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $119.39 on Thursday. The company has a market capitalization of $207.69 billion, a PE ratio of 37.19, a P/E/G ratio of 2.74 and a beta of 0.72. The company has a 50 day simple moving average of $113.97 and a two-hundred day simple moving average of $108.52. 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 has a fifty-two week low of $91.64 and a fifty-two week high of $121.64.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (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 analysts’ expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 EPS. Research analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current year.

Insider Activity at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the sale, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Abbott Laboratories

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Schaper Benz & Wise Investment Counsel Inc. WI increased its position in shares of Abbott Laboratories by 1.2% during the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 168,150 shares of the healthcare product maker’s stock valued at $19,171,000 after buying an additional 2,053 shares during the period. New Century Financial Group LLC increased its position in shares of Abbott Laboratories by 3.7% during the third quarter. New Century Financial Group LLC now owns 5,014 shares of the healthcare product maker’s stock valued at $572,000 after buying an additional 178 shares during the period. Resonant Capital Advisors LLC increased its position in shares of Abbott Laboratories by 2.2% during the third quarter. Resonant Capital Advisors LLC now owns 13,399 shares of the healthcare product maker’s stock valued at $1,528,000 after buying an additional 283 shares during the period. Revolve Wealth Partners LLC bought a new stake in shares of Abbott Laboratories during the third quarter valued at about $362,000. Finally, Waypoint Capital Advisors LLC increased its position in shares of Abbott Laboratories by 3.2% during the third quarter. Waypoint Capital Advisors LLC now owns 6,886 shares of the healthcare product maker’s stock valued at $785,000 after buying an additional 214 shares during the period. 75.18% of the stock is currently owned by institutional investors.

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.