BTIG Research Has Lowered Expectations for Abbott Laboratories (NYSE:ABT) Stock Price

Abbott Laboratories (NYSE:ABT) had its price target lowered by equities research analysts at BTIG Research from $148.00 to $145.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the healthcare product maker’s stock. BTIG Research’s price objective would suggest a potential upside of 17.11% from the stock’s previous close.

Several other brokerages have also recently commented on ABT. Jefferies Financial Group upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and boosted their price target for the stock from $143.00 to $145.00 in a research note on Friday. Leerink Partners started coverage on Abbott Laboratories in a research report on Monday, June 16th. They issued a “market perform” rating and a $143.00 price target for the company. Mizuho upped their target price on Abbott Laboratories from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday. Raymond James Financial upped their price target on shares of Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a report on Thursday, April 17th. Finally, Evercore ISI raised their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $144.47.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $123.81 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.27. The stock has a market cap of $215.41 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 2.35 and a beta of 0.73. Abbott Laboratories has a 1 year low of $99.92 and a 1 year high of $141.23. The firm’s 50-day moving average is $132.98 and its 200 day moving average is $129.56.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting analysts’ consensus estimates of $1.26. The business had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.83%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.14 EPS. Sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Insider Transactions at Abbott Laboratories

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

Institutional Investors Weigh In On Abbott Laboratories

Institutional investors have recently bought and sold shares of the stock. Hughes Financial Services LLC acquired a new stake in Abbott Laboratories in the first quarter valued at approximately $27,000. Abound Financial LLC acquired a new stake in Abbott Laboratories in the first quarter worth $28,000. Redwood Park Advisors LLC acquired a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $25,000. Elequin Capital LP acquired a new stake in shares of Abbott Laboratories in the 1st quarter worth approximately $30,000. Finally, JCIC Asset Management Inc. bought a new position in Abbott Laboratories during the first quarter valued at about $32,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

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.