Abbott Laboratories (ABT) Earns “Buy” Rating from Jefferies Group LLC

Jefferies Group LLC restated their buy rating on shares of Abbott Laboratories (NYSE:ABT) in a report released on Thursday. They currently have a $65.00 price objective on the healthcare product maker’s stock. Jefferies Group also issued estimates for Abbott Laboratories’ Q1 2018 earnings at $0.58 EPS, Q2 2018 earnings at $0.72 EPS, Q3 2018 earnings at $0.76 EPS and Q4 2018 earnings at $0.79 EPS.

Several other equities research analysts also recently issued reports on ABT. Barclays PLC raised their price target on Abbott Laboratories from $57.00 to $60.00 and gave the company an overweight rating in a report on Thursday, September 28th. Zacks Investment Research downgraded Abbott Laboratories from a buy rating to a hold rating in a report on Tuesday, September 26th. BMO Capital Markets reaffirmed a hold rating and set a $53.00 price target on shares of Abbott Laboratories in a report on Monday, October 2nd. BidaskClub downgraded Abbott Laboratories from a buy rating to a hold rating in a report on Sunday, August 6th. Finally, Cowen and Company reaffirmed a buy rating on shares of Abbott Laboratories in a report on Sunday, September 24th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $56.81.

Shares of Abbott Laboratories (ABT) opened at 56.32 on Thursday. The stock has a 50 day moving average of $53.27 and a 200-day moving average of $48.51. The firm has a market capitalization of $97.85 billion, a PE ratio of 78.88 and a beta of 1.06. Abbott Laboratories has a 52 week low of $37.38 and a 52 week high of $56.60.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, beating the consensus estimate of $0.65 by $0.01. The company had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.72 billion. Abbott Laboratories had a return on equity of 14.50% and a net margin of 8.37%. The firm’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 EPS. Equities analysts anticipate that Abbott Laboratories will post $2.50 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Thursday, October 12th. Abbott Laboratories’s dividend payout ratio is currently 83.47%.

In related news, insider Hubert L. Allen sold 4,600 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $50.79, for a total value of $233,634.00. Following the transaction, the insider now owns 105,479 shares in the company, valued at $5,357,278.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Gesua Sive Salvadori sold 62,460 shares of the firm’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $52.95, for a total value of $3,307,257.00. Following the completion of the transaction, the insider now owns 113,426 shares in the company, valued at approximately $6,005,906.70. The disclosure for this sale can be found here. Insiders sold 333,310 shares of company stock worth $16,857,255 in the last 90 days. 0.76% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Abbott Laboratories by 2.6% in the second quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock worth $6,308,944,000 after purchasing an additional 3,241,063 shares during the period. State Street Corp increased its position in shares of Abbott Laboratories by 18.9% in the first quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock worth $3,574,987,000 after purchasing an additional 12,806,535 shares during the period. Capital Research Global Investors increased its position in shares of Abbott Laboratories by 45.7% in the second quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock worth $2,313,334,000 after purchasing an additional 14,918,038 shares during the period. Bank of New York Mellon Corp increased its position in shares of Abbott Laboratories by 11.0% in the first quarter. Bank of New York Mellon Corp now owns 33,796,869 shares of the healthcare product maker’s stock worth $1,500,920,000 after purchasing an additional 3,344,508 shares during the period. Finally, Northern Trust Corp increased its position in shares of Abbott Laboratories by 3.1% in the second quarter. Northern Trust Corp now owns 26,865,706 shares of the healthcare product maker’s stock worth $1,305,942,000 after purchasing an additional 809,732 shares during the period. Institutio

Several other equities research analysts also recently issued reports on ABT. Barclays PLC raised their price target on Abbott Laboratories from $57.00 to $60.00 and gave the company an overweight rating in a report on Thursday, September 28th. Zacks Investment Research downgraded Abbott Laboratories from a buy rating to a hold rating in a report on Tuesday, September 26th. BMO Capital Markets reaffirmed a hold rating and set a $53.00 price target on shares of Abbott Laboratories in a report on Monday, October 2nd. BidaskClub downgraded Abbott Laboratories from a buy rating to a hold rating in a report on Sunday, August 6th. Finally, Cowen and Company reaffirmed a buy rating on shares of Abbott Laboratories in a report on Sunday, September 24th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $56.81.

Shares of Abbott Laboratories (ABT) opened at 56.32 on Thursday. The stock has a 50 day moving average of $53.27 and a 200-day moving average of $48.51. The firm has a market capitalization of $97.85 billion, a PE ratio of 78.88 and a beta of 1.06. Abbott Laboratories has a 52 week low of $37.38 and a 52 week high of $56.60.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, beating the consensus estimate of $0.65 by $0.01. The company had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.72 billion. Abbott Laboratories had a return on equity of 14.50% and a net margin of 8.37%. The firm’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 EPS. Equities analysts anticipate that Abbott Laboratories will post $2.50 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This piece was first published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece on another domain, it was illegally copied and reposted in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://ledgergazette.com/2017/10/22/abbott-laboratories-abt-earns-buy-rating-from-jefferies-group-llc.html.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Thursday, October 12th. Abbott Laboratories’s dividend payout ratio is currently 83.47%.

In related news, insider Hubert L. Allen sold 4,600 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $50.79, for a total value of $233,634.00. Following the transaction, the insider now owns 105,479 shares in the company, valued at $5,357,278.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Gesua Sive Salvadori sold 62,460 shares of the firm’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $52.95, for a total value of $3,307,257.00. Following the completion of the transaction, the insider now owns 113,426 shares in the company, valued at approximately $6,005,906.70. The disclosure for this sale can be found here. Insiders sold 333,310 shares of company stock worth $16,857,255 in the last 90 days. 0.76% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Abbott Laboratories by 2.6% in the second quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock worth $6,308,944,000 after purchasing an additional 3,241,063 shares during the period. State Street Corp increased its position in shares of Abbott Laboratories by 18.9% in the first quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock worth $3,574,987,000 after purchasing an additional 12,806,535 shares during the period. Capital Research Global Investors increased its position in shares of Abbott Laboratories by 45.7% in the second quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock worth $2,313,334,000 after purchasing an additional 14,918,038 shares during the period. Bank of New York Mellon Corp increased its position in shares of Abbott Laboratories by 11.0% in the first quarter. Bank of New York Mellon Corp now owns 33,796,869 shares of the healthcare product maker’s stock worth $1,500,920,000 after purchasing an additional 3,344,508 shares during the period. Finally, Northern Trust Corp increased its position in shares of Abbott Laboratories by 3.1% in the second quarter. Northern Trust Corp now owns 26,865,706 shares of the healthcare product maker’s stock worth $1,305,942,000 after purchasing an additional 809,732 shares during the period. Institutional investors own 71.45% of the company’s stock.

About Abbott Laboratories

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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