Abbott Laboratories (NYSE: ABT) recently received a number of ratings updates from brokerages and research firms:
- 9/20/2016 – Abbott Laboratories was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $47.00 price target on the stock. According to Zacks, “Abbott has been reshaping its portfolio through strategic acquisitions/divestitures for long term growth. In order to focus on its key areas – cardiovascular devices and diagnostics – Abbott has inked a deal to divest its vision care business, Medical Optics, to J&J. Moreover, the Alere acquisition should boost the company’s diagnostics business, while the St. Jude Medical buyout will complement its cardiovascular devices business and strengthen its long-term growth potential. Realignment of the EPD division through acquisitions in Latin America and Russia, along with business divestitures in developed markets, has positioned the company advantageously for the coming quarters. However, headwinds in the form of currency movements and weakness in the nutrition business in China continue to be a matter of concern.”
- 9/19/2016 – Abbott Laboratories had its “outperform” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $48.00 price target on the stock.
- 9/19/2016 – Abbott Laboratories had its “buy” rating reaffirmed by analysts at Bank of America Corp..
- 9/13/2016 – Abbott Laboratories had its price target lowered by analysts at Jefferies Group from $52.00 to $48.00. They now have a “buy” rating on the stock.
- 8/22/2016 – Abbott Laboratories was upgraded by analysts at TheStreet from a “hold” rating to a “buy” rating.
- 8/12/2016 – Abbott Laboratories had its “buy” rating reaffirmed by analysts at Bank of America Corp.. They now have a $50.00 price target on the stock.
- 8/10/2016 – Abbott Laboratories had its “buy” rating reaffirmed by analysts at BTIG Research. They now have a $45.00 price target on the stock.
- 8/9/2016 – Abbott Laboratories had its “buy” rating reaffirmed by analysts at Deutsche Bank AG.
Shares of Abbott Laboratories (NYSE:ABT) opened at 42.55 on Tuesday. Abbott Laboratories has a one year low of $36.00 and a one year high of $46.38. The stock has a market cap of $62.55 billion, a price-to-earnings ratio of 28.09 and a beta of 0.87. The stock’s 50 day moving average price is $42.51 and its 200 day moving average price is $41.32.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, July 20th. The healthcare product maker reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.02. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.24 billion. Abbott Laboratories had a net margin of 11.08% and a return on equity of 15.11%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.52 EPS.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Wednesday, October 12th. Abbott Laboratories’s payout ratio is 68.87%.
In other Abbott Laboratories news, SVP Daniel Gesua Sive Salvadori sold 815 shares of the business’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $41.71, for a total value of $33,993.65. Following the completion of the transaction, the senior vice president now owns 59,791 shares in the company, valued at $2,493,882.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Miles D. White purchased 242,547 shares of the company’s stock in a transaction on Monday, July 25th. The stock was acquired at an average price of $43.18 per share, with a total value of $10,473,179.46. Following the purchase, the chairman now owns 2,010,517 shares of the company’s stock, valued at $86,814,124.06. The disclosure for this purchase can be found here. 0.26% of the stock is owned by company insiders.
Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.
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