Abbott Laboratories (ABT) Stock Rating Reaffirmed by Leerink Swann

Abbott Laboratories (NYSE:ABT)‘s stock had its “market perform” rating reaffirmed by equities research analysts at Leerink Swann in a research note issued to investors on Friday.

ABT has been the topic of a number of other research reports. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. JPMorgan Chase & Co. started coverage on shares of Abbott Laboratories in a research note on Friday, October 6th. They issued a “neutral” rating and a $60.00 target price on the stock. Royal Bank of Canada restated a “buy” rating and issued a $65.00 target price on shares of Abbott Laboratories in a research note on Tuesday, January 9th. Finally, Cowen set a $68.00 target price on shares of Abbott Laboratories and gave the company a “buy” rating in a research note on Thursday, October 19th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $60.24.

Abbott Laboratories (ABT) opened at $59.31 on Friday. The company has a market cap of $103,240.00, a price-to-earnings ratio of 49.02, a price-to-earnings-growth ratio of 1.88 and a beta of 1.55. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26. Abbott Laboratories has a 1-year low of $39.25 and a 1-year high of $59.68.

In related news, insider Alejandro D. Wellisch sold 2,153 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $55.86, for a total transaction of $120,266.58. Following the completion of the sale, the insider now owns 10,256 shares of the company’s stock, valued at approximately $572,900.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Miles D. White sold 276,886 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $54.41, for a total transaction of $15,065,367.26. Following the sale, the chairman now directly owns 3,677,913 shares of the company’s stock, valued at approximately $200,115,246.33. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 501,172 shares of company stock valued at $27,533,150. Insiders own 0.76% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Abbott Laboratories by 2.6% in the 2nd 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 last quarter. Capital Research Global Investors grew its position in Abbott Laboratories by 45.7% in the 2nd 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 last quarter. Northern Trust Corp grew its position in Abbott Laboratories by 3.1% in the 2nd 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 last quarter. Dimensional Fund Advisors LP grew its position in Abbott Laboratories by 28.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock worth $569,830,000 after purchasing an additional 2,606,404 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in Abbott Laboratories by 7.7% in the 2nd quarter. Alliancebernstein L.P. now owns 11,607,121 shares of the healthcare product maker’s stock worth $564,222,000 after purchasing an additional 830,610 shares during the last quarter. 71.19% of the stock is owned by institutional investors and hedge funds.

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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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