Abbott Laboratories (NYSE:ABT) Given Buy Rating at TD Cowen

Abbott Laboratories (NYSE:ABT)‘s stock had its “buy” rating reaffirmed by TD Cowen in a note issued to investors on Friday, Benzinga reports. They currently have a $135.00 target price on the healthcare product maker’s stock. TD Cowen’s price target would indicate a potential upside of 29.31% from the company’s current price.

A number of other equities research analysts have also commented on the stock. Weiss Ratings raised shares of Abbott Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 18th. Citigroup increased their target price on shares of Abbott Laboratories from $108.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, July 17th. Piper Sandler reiterated an “overweight” rating and set a $118.00 price objective (up from $115.00) on shares of Abbott Laboratories in a report on Friday, July 17th. Rothschild & Co Redburn raised shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $119.00 to $127.00 in a research report on Friday, October 2nd. Finally, Robert W. Baird assumed coverage on Abbott Laboratories in a research note on Wednesday, July 1st. They issued an “outperform” rating and a $121.00 target price for the company. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.88.

Abbott Laboratories Trading Down 0.3%

Shares of NYSE:ABT traded down $0.28 during trading on Friday, reaching $104.40. The stock had a trading volume of 4,472,350 shares, compared to its average volume of 11,259,937. The firm’s fifty day moving average is $105.97 and its 200 day moving average is $98.26. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.38. Abbott Laboratories has a 52 week low of $81.97 and a 52 week high of $132.02. The stock has a market cap of $180.65 billion, a price-to-earnings ratio of 33.77, a P/E/G ratio of 1.91 and a beta of 0.59.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 16th. The healthcare product maker reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.03. Abbott Laboratories had a net margin of 11.65% and a return on equity of 17.69%. The company had revenue of $12.59 billion for the quarter, compared to analyst estimates of $12.52 billion. During the same period in the prior year, the firm posted $1.26 EPS. The company’s quarterly revenue was up 13.0% on a year-over-year basis. As a group, equities analysts forecast that Abbott Laboratories will post 5.52 EPS for the current fiscal year.

Institutional Trading of Abbott Laboratories

Hedge funds and other institutional investors have recently bought and sold shares of the business. Purpose Unlimited Inc. bought a new stake in Abbott Laboratories during the 4th quarter valued at $25,000. Manning & Napier Advisors LLC bought a new stake in shares of Abbott Laboratories in the 2nd quarter worth $31,000. Summit Securities Group LLC grew its stake in shares of Abbott Laboratories by 41.3% in the 2nd quarter. Summit Securities Group LLC now owns 404 shares of the healthcare product maker’s stock worth $37,000 after acquiring an additional 118 shares in the last quarter. Addison Advisors LLC bought a new stake in shares of Abbott Laboratories in the 2nd quarter worth $40,000. Finally, Hoey Investments Inc. grew its stake in shares of Abbott Laboratories by 59.3% in the 1st quarter. Hoey Investments Inc. now owns 446 shares of the healthcare product maker’s stock worth $46,000 after acquiring an additional 166 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Company Profile

Abbott Laboratories (NYSE:ABT) is a diversified healthcare company that develops, manufactures and sells medical devices, diagnostic products, nutritional products and branded generic pharmaceuticals. Founded in 1888 by Wallace C. Abbott, the company serves healthcare providers, institutions, retailers and consumers worldwide.

Abbott’s medical device portfolio includes cardiovascular products, such as coronary stents, structural heart systems and heart failure devices, as well as diabetes-care technologies, including the FreeStyle Libre continuous glucose monitoring system.