Abbott Laboratories (NYSE:ABT) PT Raised to $133.00 at Piper Sandler

Abbott Laboratories (NYSE:ABT) had its price target boosted by equities research analysts at Piper Sandler from $131.00 to $133.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the healthcare product maker’s stock. Piper Sandler’s target price points to a potential upside of 12.88% from the stock’s current price.

A number of other research analysts have also recently weighed in on ABT. Oppenheimer started coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective on the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $120.00 price objective on shares of Abbott Laboratories in a research report on Thursday, September 26th. Piper Sandler Companies started coverage on Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective on the stock. Raymond James reaffirmed a “buy” rating and set a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a research report on Monday. Finally, Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $126.46.

Abbott Laboratories Trading Up 1.5 %

Shares of NYSE:ABT opened at $117.82 on Thursday. The stock has a market capitalization of $204.96 billion, a price-to-earnings ratio of 36.70, a PEG ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The stock’s 50-day simple moving average is $113.60 and its two-hundred day simple moving average is $108.40. Abbott Laboratories has a 52-week low of $91.25 and a 52-week high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.01. The business 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 business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the firm posted $1.14 earnings per share. Analysts expect that Abbott Laboratories will post 4.66 EPS for the current year.

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction that occurred on 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 owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Abbott Laboratories

Several large investors have recently modified their holdings of ABT. Vanguard Group Inc. boosted its holdings in Abbott Laboratories by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock valued at $18,788,216,000 after acquiring an additional 8,834,840 shares during the period. Capital International Investors lifted its stake in shares of Abbott Laboratories by 9.1% during the 1st quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock worth $7,976,382,000 after purchasing an additional 5,882,780 shares during the last quarter. Swedbank AB purchased a new stake in shares of Abbott Laboratories during the 1st quarter worth $341,777,000. Sessa Capital IM L.P. purchased a new stake in shares of Abbott Laboratories during the 2nd quarter worth $264,876,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Abbott Laboratories by 493.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,401,190 shares of the healthcare product maker’s stock worth $249,508,000 after purchasing an additional 1,996,320 shares during the last quarter. 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.