Abbott Laboratories (NYSE: ABT) was the recipient of a ratings changes during the seven days:

  • Abbott Laboratories was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating.
  • Abbott Laboratories had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $72.00 price target on the stock. Zacks‘ analyst wrote, “Abbott reported third quarter earnings of $1.30 per share, a couple of cents above the Zacks Consensus Estimate and 10.2% above the year-ago earnings. Third quarter revenues, however, declined 0.4% to $9.8 billion, missing the Zacks Consensus Estimate of $9.9 billion. Abbott remains on track to split into two separate publicly traded companies on January 1, 2013. While one company will deal in diversified medical products, the other (AbbVie) will focus on research-based pharmaceuticals. We are positive on the split which should allow the two separate entities to perform in a more focused manner. Humira continues to perform well and this should reduce concerns regarding AbbVie’s growth prospects. “
  • Abbott Laboratories had its “buy” rating reaffirmed by analysts at Jefferies Group. They now have a $87.00 price target on the stock.
  • Abbott Laboratories was upgraded by analysts at Wells Fargo & Co. from a “market perform” rating to an “outperform” rating.
  • Abbott Laboratories had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $69.00 price target on the stock. Zacks‘ analyst wrote, “Abbott reported third quarter earnings of $1.30 per share, a couple of cents above the Zacks Consensus Estimate and 10.2% above the year-ago earnings. Third quarter revenues, however, declined 0.4% to $9.8 billion, missing the Zacks Consensus Estimate of $9.9 billion. Abbott remains on track to split into two separate publicly traded companies on January 1, 2013. While one company will deal in diversified medical products, the other (AbbVie) will focus on research-based pharmaceuticals. We are positive on the split which should allow the two separate entities to perform in a more focused manner. Humira continues to perform well and this should reduce concerns regarding AbbVie’s growth prospects. “

Abbott Laboratories traded down 0.46% on Friday, hitting $65.48. Abbott Laboratories has a 1-year low of $52.05 and a 1-year high of $72.47. The company has a market cap of $102.8 billion and a price-to-earnings ratio of 16.09.

Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture, and sale of a range of health care products.