Abbott Laboratories (ABT) Given Market Perform Rating at BMO Capital Markets

Abbott Laboratories (NYSE:ABT)‘s stock had its “market perform” rating reiterated by investment analysts at BMO Capital Markets in a research report issued on Thursday.

Several other brokerages have also recently weighed in on ABT. Jefferies Group LLC reiterated a “buy” rating and issued a $58.00 price objective on shares of Abbott Laboratories in a research note on Thursday, August 3rd. Stifel Nicolaus raised their target price on shares of Abbott Laboratories from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday. Cowen and Company restated a “buy” rating and set a $55.00 target price on shares of Abbott Laboratories in a research note on Thursday, August 17th. Royal Bank Of Canada restated a “buy” rating and set a $55.00 target price on shares of Abbott Laboratories in a research note on Tuesday, October 3rd. Finally, TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b” rating in a research note on Monday, July 3rd. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $56.81.

Abbott Laboratories (ABT) traded up 0.296% during mid-day trading on Thursday, hitting $55.935. 3,097,825 shares of the stock traded hands. The stock has a market cap of $97.18 billion, a price-to-earnings ratio of 78.340 and a beta of 1.06. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $56.60. The company’s 50 day moving average price is $52.94 and its 200-day moving average price is $48.37.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The firm had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.72 billion. During the same quarter in the prior year, the business earned $0.59 EPS. The business’s quarterly revenue was up 28.8% on a year-over-year basis. Analysts predict that Abbott Laboratories will post $2.50 earnings per share for the current year.

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In other news, insider Brian J. Blaser sold 15,000 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $50.00, for a total transaction of $750,000.00. Following the sale, the insider now owns 143,154 shares in the company, valued at $7,157,700. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Stephen R. Fussell sold 196,550 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total transaction of $9,729,225.00. Following the completion of the transaction, the insider now directly owns 221,488 shares of the company’s stock, valued at $10,963,656. The disclosure for this sale can be found here. In the last quarter, insiders have sold 333,310 shares of company stock worth $16,857,255. Company insiders own 0.76% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. McQueen Ball & Associates Inc. grew its holdings in shares of Abbott Laboratories by 2.8% in the third quarter. McQueen Ball & Associates Inc. now owns 47,791 shares of the healthcare product maker’s stock valued at $2,550,000 after purchasing an additional 1,311 shares in the last quarter. Curbstone Financial Management Corp grew its holdings in shares of Abbott Laboratories by 95.2% in the third quarter. Curbstone Financial Management Corp now owns 39,728 shares of the healthcare product maker’s stock valued at $2,120,000 after purchasing an additional 19,371 shares in the last quarter. Park National Corp OH grew its holdings in shares of Abbott Laboratories by 0.4% in the third quarter. Park National Corp OH now owns 602,236 shares of the healthcare product maker’s stock valued at $32,135,000 after purchasing an additional 2,236 shares in the last quarter. MPS Loria Financial Planners LLC purchased a new position in shares of Abbott Laboratories in the second quarter valued at $1,038,000. Finally, Frontier Investment Mgmt Co. grew its holdings in shares of Abbott Laboratories by 18.8% in the second quarter. Frontier Investment Mgmt Co. now owns 10,095 shares of the healthcare p

Several other brokerages have also recently weighed in on ABT. Jefferies Group LLC reiterated a “buy” rating and issued a $58.00 price objective on shares of Abbott Laboratories in a research note on Thursday, August 3rd. Stifel Nicolaus raised their target price on shares of Abbott Laboratories from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday. Cowen and Company restated a “buy” rating and set a $55.00 target price on shares of Abbott Laboratories in a research note on Thursday, August 17th. Royal Bank Of Canada restated a “buy” rating and set a $55.00 target price on shares of Abbott Laboratories in a research note on Tuesday, October 3rd. Finally, TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b” rating in a research note on Monday, July 3rd. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $56.81.

Abbott Laboratories (ABT) traded up 0.296% during mid-day trading on Thursday, hitting $55.935. 3,097,825 shares of the stock traded hands. The stock has a market cap of $97.18 billion, a price-to-earnings ratio of 78.340 and a beta of 1.06. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $56.60. The company’s 50 day moving average price is $52.94 and its 200-day moving average price is $48.37.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The firm had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.72 billion. During the same quarter in the prior year, the business earned $0.59 EPS. The business’s quarterly revenue was up 28.8% on a year-over-year basis. Analysts predict that Abbott Laboratories will post $2.50 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This piece was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece on another publication, it was stolen and reposted in violation of U.S. and international copyright legislation. The correct version of this piece can be viewed at https://ledgergazette.com/2017/10/19/abbott-laboratories-abt-earns-market-perform-rating-from-bmo-capital-markets.html.

In other news, insider Brian J. Blaser sold 15,000 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $50.00, for a total transaction of $750,000.00. Following the sale, the insider now owns 143,154 shares in the company, valued at $7,157,700. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Stephen R. Fussell sold 196,550 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total transaction of $9,729,225.00. Following the completion of the transaction, the insider now directly owns 221,488 shares of the company’s stock, valued at $10,963,656. The disclosure for this sale can be found here. In the last quarter, insiders have sold 333,310 shares of company stock worth $16,857,255. Company insiders own 0.76% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. McQueen Ball & Associates Inc. grew its holdings in shares of Abbott Laboratories by 2.8% in the third quarter. McQueen Ball & Associates Inc. now owns 47,791 shares of the healthcare product maker’s stock valued at $2,550,000 after purchasing an additional 1,311 shares in the last quarter. Curbstone Financial Management Corp grew its holdings in shares of Abbott Laboratories by 95.2% in the third quarter. Curbstone Financial Management Corp now owns 39,728 shares of the healthcare product maker’s stock valued at $2,120,000 after purchasing an additional 19,371 shares in the last quarter. Park National Corp OH grew its holdings in shares of Abbott Laboratories by 0.4% in the third quarter. Park National Corp OH now owns 602,236 shares of the healthcare product maker’s stock valued at $32,135,000 after purchasing an additional 2,236 shares in the last quarter. MPS Loria Financial Planners LLC purchased a new position in shares of Abbott Laboratories in the second quarter valued at $1,038,000. Finally, Frontier Investment Mgmt Co. grew its holdings in shares of Abbott Laboratories by 18.8% in the second quarter. Frontier Investment Mgmt Co. now owns 10,095 shares of the healthcare product maker’s stock valued at $491,000 after purchasing an additional 1,598 shares in the last quarter. 71.45% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Company Profile

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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