Investors sold shares of Abbott Laboratories (NYSE:ABT) on strength during trading hours on Friday. $46.33 million flowed into the stock on the tick-up and $79.03 million flowed out of the stock on the tick-down, for a money net flow of $32.70 million out of the stock. Of all stocks tracked, Abbott Laboratories had the 22nd highest net out-flow for the day. Abbott Laboratories traded up $0.53 for the day and closed at $52.02

Several analysts have issued reports on the stock. BMO Capital Markets reaffirmed a “hold” rating and issued a $53.00 price target on shares of Abbott Laboratories in a report on Friday, September 1st. Citigroup Inc. assumed coverage on shares of Abbott Laboratories in a report on Thursday, August 17th. They issued a “neutral” rating and a $53.00 price target on the stock. Cowen and Company reaffirmed a “buy” rating and issued a $55.00 price target on shares of Abbott Laboratories in a report on Thursday, August 17th. BidaskClub downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Sunday, August 6th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $58.00 price target on shares of Abbott Laboratories in a report on Thursday, August 3rd. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $52.50.

The stock has a market cap of $90.38 billion, a price-to-earnings ratio of 72.86 and a beta of 1.06. The stock’s 50-day moving average is $49.77 and its 200 day moving average is $46.65.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. The business had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.63 billion. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The firm’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period last year, the company posted $0.55 earnings per share. On average, analysts forecast that Abbott Laboratories will post $2.49 EPS for the current fiscal year.

In related news, insider Jared Watkin sold 552 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $47.97, for a total transaction of $26,479.44. Following the completion of the sale, the insider now directly owns 47,090 shares in the company, valued at $2,258,907.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Stephen R. Fussell sold 196,550 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $49.50, for a total transaction of $9,729,225.00. Following the sale, the insider now owns 221,488 shares of the company’s stock, valued at $10,963,656. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 218,702 shares of company stock valued at $10,837,658. 0.76% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of ABT. Capital Research Global Investors raised its position in Abbott Laboratories by 45.7% during the second quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock valued at $2,313,334,000 after acquiring an additional 14,918,038 shares in the last quarter. State Street Corp raised its position in Abbott Laboratories by 18.9% during the first quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock valued at $3,574,987,000 after acquiring an additional 12,806,535 shares in the last quarter. Boston Partners raised its position in Abbott Laboratories by 5,663.7% during the first quarter. Boston Partners now owns 8,212,035 shares of the healthcare product maker’s stock valued at $364,696,000 after acquiring an additional 8,069,557 shares in the last quarter. Janus Henderson Group PLC raised its position in Abbott Laboratories by 3,373.9% during the second quarter. Janus Henderson Group PLC now owns 7,874,473 shares of the healthcare product maker’s stock valued at $382,779,000 after acquiring an additional 7,647,798 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Abbott Laboratories by 11.0% during the first quarter. Bank of New York Mellon Corp now owns 33,796,869 shares of the healthcare product maker’s stock valued at $1,500,920,000 after acquiring an additional 3,344,508 shares in the last quarter. Institutional investors and hedge funds own 71.66% of the company’s stock.

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Abbott Laboratories Company Profile

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

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