Modera Wealth Management LLC Purchases 11,014 Shares of Abbott Laboratories $ABT

Modera Wealth Management LLC raised its position in Abbott Laboratories (NYSE:ABT) by 11.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,108 shares of the healthcare product maker’s stock after purchasing an additional 11,014 shares during the quarter. Modera Wealth Management LLC’s holdings in Abbott Laboratories were worth $10,882,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Foresight Capital Management Advisors Inc. purchased a new position in Abbott Laboratories in the third quarter valued at approximately $31,000. Manning & Napier Advisors LLC purchased a new stake in Abbott Laboratories during the second quarter worth approximately $31,000. Balance Wealth Partners LLC acquired a new stake in shares of Abbott Laboratories in the third quarter worth $34,000. Summit Securities Group LLC increased its position in shares of Abbott Laboratories by 41.3% in the second 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. Finally, Addison Advisors LLC acquired a new stake in shares of Abbott Laboratories in the second quarter worth $40,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Abbott Laboratories

Here are the key news stories impacting Abbott Laboratories this week:

• Positive Sentiment: Abbott began the pivotal CROWN-MV trial for its investigational Cephea Mitral Valve System, designed as a minimally invasive treatment for symptomatic mitral valve disease patients who are ineligible for surgery or transcatheter repair. Successful development could expand Abbott’s structural-heart portfolio, although the device remains investigational and carries clinical and regulatory risk. Abbott initiates pivotal trial for Cephea device
• Positive Sentiment: Industry reports forecast strong expansion in point-of-care diagnostics across South and Central America and continued growth in home INR monitoring. Abbott is listed among the key suppliers, suggesting potential long-term opportunities for its diagnostics business through testing volume, instruments and recurring consumables. South and Central America point-of-care diagnostics market Point-of-care INR testing market
• Neutral Sentiment: Discussion of Abbott’s approaching breakup highlights the potential for value creation through separating businesses, but also raises questions about execution, valuation and how costs and growth prospects will be allocated among the resulting companies. Can Abbott Laboratories Stay Reasonable As Its Breakup Nears?
• Negative Sentiment: Dexcom exceeded expectations and raised guidance, underscoring robust demand for continuous glucose-monitoring wearables but also intensifying competitive pressure on Abbott’s FreeStyle Libre franchise. Stronger execution by Dexcom could weigh on expectations for Abbott’s diabetes-care growth. Dexcom shakes off Abbott-tied malaise
• Negative Sentiment: Argus downgraded Abbott Laboratories, adding a near-term valuation and analyst-sentiment headwind. Abbott Laboratories stock gets downgrade from Argus

Abbott Laboratories Stock Up 1.7%

Shares of NYSE:ABT opened at $106.33 on Friday. The company has a market capitalization of $183.99 billion, a price-to-earnings ratio of 39.68, a price-to-earnings-growth ratio of 1.83 and a beta of 0.59. The company has a 50 day moving average of $104.36 and a two-hundred day moving average of $102.06. Abbott Laboratories has a 52-week low of $81.97 and a 52-week high of $132.02. The company has a quick ratio of 0.97, a current ratio of 1.38 and a debt-to-equity ratio of 0.57.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 EPS for the quarter, hitting analysts’ consensus estimates of $1.42. The business had revenue of $13.01 billion for the quarter, compared to analysts’ expectations of $12.99 billion. Abbott Laboratories had a net margin of 9.75% and a return on equity of 17.97%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.30 earnings per share. As a group, analysts forecast that Abbott Laboratories will post 5.52 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be issued a $0.63 dividend. The ex-dividend date is Thursday, October 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.4%. Abbott Laboratories’s payout ratio is currently 94.03%.

Analyst Ratings Changes

ABT has been the topic of several recent research reports. BTIG Research reduced their target price on shares of Abbott Laboratories from $134.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, October 22nd. UBS Group decreased their price target on shares of Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, July 28th. Citigroup lowered their price target on Abbott Laboratories from $125.00 to $122.00 and set a “buy” rating for the company in a report on Thursday, October 22nd. Royal Bank Of Canada cut their price objective on Abbott Laboratories from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, October 22nd. Finally, Robert W. Baird boosted their price objective on Abbott Laboratories from $121.00 to $123.00 and gave the stock an “outperform” rating in a research note on Thursday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $118.32.

Abbott Laboratories Company Profile

Abbott Laboratories is a global healthcare company that develops, manufactures and markets a broad range of medical products and services. Founded in 1888 by Wallace C. Abbott, the company is headquartered in Abbott Park, Illinois, and serves patients, healthcare providers and consumers in markets around the world.

Abbott operates across four principal businesses: medical devices, diagnostics, nutrition and established pharmaceutical products. Its offerings include glucose-monitoring systems such as FreeStyle Libre; cardiovascular devices, including stents and structural heart products; laboratory and point-of-care diagnostic systems; and branded generic medicines in areas such as gastroenterology, women’s health and cardiometabolic care.

The company’s nutrition portfolio includes infant and pediatric products such as Similac and PediaSure, adult nutritional products such as Ensure, and rehydration products such as Pedialyte.