Abbott Laboratories (NYSE:ABT) Stock Price Expected to Rise, Evercore ISI Analyst Says

Abbott Laboratories (NYSE:ABT) had its target price hoisted by research analysts at Evercore ISI to $136.00 in a research note issued on Thursday, Stock Target Advisor reports. The firm presently has a “buy” rating on the healthcare product maker’s stock. Evercore ISI’s price target indicates a potential upside of 20.07% from the stock’s current price.

A number of other analysts have also recently commented on ABT. Sanford C. Bernstein lifted their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Morgan Stanley upped their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Piper Sandler Companies started coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective on the stock. Mizuho upped their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Raymond James restated a “buy” rating and set a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.57.

Abbott Laboratories Stock Performance

Shares of ABT stock traded up $0.16 on Thursday, hitting $113.27. The company had a trading volume of 906,900 shares, compared to its average volume of 5,594,505. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $115.54 and a 200-day moving average price of $112.07. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $121.64. The firm has a market cap of $196.46 billion, a P/E ratio of 34.43, a price-to-earnings-growth ratio of 2.69 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the company earned $1.14 EPS. As a group, equities research analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Abbott Laboratories

Several institutional investors have recently added to or reduced their stakes in the business. Future Financial Wealth Managment LLC purchased a new position in Abbott Laboratories in the 3rd quarter valued at approximately $31,000. Peterson Financial Group Inc. acquired a new stake in shares of Abbott Laboratories during the 3rd quarter worth about $32,000. Valued Wealth Advisors LLC increased its holdings in shares of Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after buying an additional 127 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Abbott Laboratories during the second quarter valued at about $32,000. Finally, Highline Wealth Partners LLC bought a new position in Abbott Laboratories during the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

About Abbott Laboratories

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.