Abbott Laboratories (NYSE:ABT) had its price target raised by Royal Bank Of Canada from $55.00 to $60.00 in a report released on Thursday, MarketBeat.com reports. Royal Bank Of Canada currently has an outperform rating on the healthcare product maker’s stock.

Several other brokerages have also issued reports on ABT. Jefferies Group LLC reissued a buy rating and issued a $58.00 price target on shares of Abbott Laboratories in a report on Thursday, August 3rd. BMO Capital Markets reissued a hold rating and issued a $53.00 price target on shares of Abbott Laboratories in a report on Friday, September 1st. Cowen and Company reissued a buy rating and issued a $55.00 price target on shares of Abbott Laboratories in a report on Thursday, August 17th. TheStreet raised shares of Abbott Laboratories from a c+ rating to a b rating in a report on Monday, July 3rd. Finally, BidaskClub lowered shares of Abbott Laboratories from a strong-buy rating to a buy rating in a report on Monday, July 31st. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Abbott Laboratories currently has an average rating of Buy and an average target price of $56.81.

Abbott Laboratories (NYSE:ABT) opened at 56.32 on Thursday. The firm has a market capitalization of $97.85 billion, a price-to-earnings ratio of 78.88 and a beta of 1.06. Abbott Laboratories has a one year low of $37.38 and a one year high of $56.60. The firm’s 50-day moving average is $53.27 and its 200 day moving average is $48.51.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The firm had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 14.50%. The business’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 EPS. Analysts forecast that Abbott Laboratories will post $2.50 EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be given a dividend of $0.265 per share. The ex-dividend date is Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a yield of 1.88%. Abbott Laboratories’s payout ratio is presently 83.47%.

In other Abbott Laboratories news, insider Daniel Gesua Sive Salvadori sold 62,460 shares of the company’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $52.95, for a total transaction of $3,307,257.00. Following the transaction, the insider now directly owns 113,426 shares in the company, valued at approximately $6,005,906.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jaime Contreras sold 52,700 shares of the company’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $51.97, for a total transaction of $2,738,819.00. Following the transaction, the insider now owns 58,739 shares in the company, valued at $3,052,665.83. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 333,310 shares of company stock worth $16,857,255. Corporate insiders own 0.76% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Sanders Morris Harris LLC lifted its position in Abbott Laboratories by 0.3% during the 2nd quarter. Sanders Morris Harris LLC now owns 4,986 shares of the healthcare product maker’s stock valued at $242,000 after purchasing an additional 16 shares during the period. St. Louis Trust Co lifted its position in Abbott Laboratories by 0.4% during the 2nd quarter. St. Louis Trust Co now owns 4,904 shares of the healthcare product maker’s stock valued at $238,000 after purchasing an additional 20 shares during the period. Alpha Windward LLC lifted its position in Abbott Laboratories by 0.6% during the 2nd quarter. Alpha Windward LLC now owns 5,434 shares of the healthcare product maker’s stock valued at $264,000 after purchasing an additional 30 shares during the period. Lakeview Capital Partners LLC lifted its position in Abbott Laboratories by 0.6% during the 2nd quarter. Lakeview Capital Partners LLC now owns 5,691 shares of the healthcare product maker’s stock valued at $277,000 after purchasing an additional 33 shares during the period. Finally, Johanson Financial Advisors Inc. lifted its position in Abbott Laboratories by 0.5% during the 2nd quarter. Johanson Financial Advisors Inc. now owns 7,017 shares of the healthcare product maker’s stock valued at $343,000 after purchasing an additional 37 shares during the period. Institutional investors own 71.45% of the company’s stock.

About Abbott Laboratories

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.

Analyst Recommendations for Abbott Laboratories (NYSE:ABT)

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