Sanford C. Bernstein Forecasts Strong Price Appreciation for Abbott Laboratories (NYSE:ABT) Stock

Abbott Laboratories (NYSE:ABT) had its target price hoisted by stock analysts at Sanford C. Bernstein from $150.00 to $154.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the healthcare product maker’s stock. Sanford C. Bernstein’s price target would suggest a potential upside of 22.47% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the stock. Daiwa Capital Markets increased their price objective on shares of Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $147.00 price target on shares of Abbott Laboratories in a research note on Thursday, October 16th. William Blair upgraded shares of Abbott Laboratories to a “strong-buy” rating in a report on Thursday, November 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Abbott Laboratories in a research report on Monday, December 29th. Finally, Mizuho increased their price objective on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.68.

Abbott Laboratories Trading Down 0.3%

Shares of ABT traded down $0.43 during trading hours on Friday, hitting $125.75. 2,232,759 shares of the stock traded hands, compared to its average volume of 5,489,897. The business has a fifty day moving average of $126.08 and a 200-day moving average of $129.47. The company has a current ratio of 1.70, a quick ratio of 1.24 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $218.66 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 2.10 and a beta of 0.72. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. The company had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the prior year, the company posted $1.21 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Brighton Jones LLC grew its stake in shares of Abbott Laboratories by 10.1% in the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock valued at $5,850,000 after acquiring an additional 4,755 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Abbott Laboratories by 9.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 13,130 shares of the healthcare product maker’s stock valued at $1,742,000 after purchasing an additional 1,088 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Abbott Laboratories by 10.5% in the 1st quarter. Jones Financial Companies Lllp now owns 348,852 shares of the healthcare product maker’s stock valued at $45,837,000 after purchasing an additional 33,081 shares during the last quarter. Nova Wealth Management Inc. bought a new stake in shares of Abbott Laboratories during the first quarter worth $50,000. Finally, Modern Wealth Management LLC increased its holdings in Abbott Laboratories by 11.4% in the 1st quarter. Modern Wealth Management LLC now owns 44,879 shares of the healthcare product maker’s stock worth $5,953,000 after purchasing an additional 4,608 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Company Profile

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.