Abbott Laboratories’ (ABT) “Buy” Rating Reiterated at BTIG Research

BTIG Research reiterated their buy rating on shares of Abbott Laboratories (NYSE:ABT) in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a $145.00 target price on the healthcare product maker’s stock.

A number of other analysts have also recently weighed in on ABT. Benchmark began coverage on Abbott Laboratories in a research report on Friday, October 10th. They set a “buy” rating and a $145.00 price objective for the company. Mizuho upped their target price on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Evercore ISI cut their price target on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a research note on Wednesday, October 15th. Jefferies Financial Group raised their price target on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $147.00 price objective on shares of Abbott Laboratories in a research report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $127.97 on Thursday. The company’s fifty day moving average price is $129.95 and its 200 day moving average price is $131.20. The firm has a market capitalization of $222.52 billion, a P/E ratio of 16.04, a P/E/G ratio of 2.36 and a beta of 0.68. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting the consensus estimate of $1.30. The business had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, sell-side analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 29.57%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. IMG Wealth Management Inc. increased its holdings in shares of Abbott Laboratories by 759.1% during the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 167 shares during the period. Cloud Capital Management LLC acquired a new position in Abbott Laboratories during the third quarter valued at $29,000. Elequin Capital LP acquired a new position in Abbott Laboratories in the 1st quarter valued at approximately $30,000. Guerra Advisors Inc purchased a new stake in shares of Abbott Laboratories during the third quarter worth $31,000. Finally, Anfield Capital Management LLC lifted its holdings in shares of Abbott Laboratories by 81.3% during the 2nd quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock valued at $32,000 after buying an additional 104 shares during the last quarter. 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.