AbbVie (NYSE:ABBV)‘s stock had its “sell” rating reiterated by investment analysts at BMO Capital Markets in a research report issued on Thursday. They presently have a $95.00 price objective on the stock. BMO Capital Markets’ target price would indicate a potential downside of 21.27% from the company’s previous close.
The analysts wrote, “On its fiscal 3Q18 earnings call, MDT said it does not expect the first-in- human use of its surgical robot in the next couple of months as the company had intended. Recall, MDT had previously said that it expected to be in clinical use by end of its fiscal 2018.””
ABBV has been the topic of a number of other research reports. Zacks Investment Research cut shares of AbbVie from a “buy” rating to a “hold” rating in a report on Friday, October 20th. BidaskClub cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 25th. Piper Jaffray Companies raised their target price on shares of AbbVie to $115.00 and gave the stock an “overweight” rating in a report on Friday, October 27th. Leerink Swann cut their target price on shares of AbbVie from $108.00 to $107.00 and set an “outperform” rating on the stock in a report on Monday, October 30th. Finally, SunTrust Banks reaffirmed a “buy” rating on shares of AbbVie in a report on Monday, October 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $118.44.
Shares of AbbVie (NYSE:ABBV) traded up $2.07 during mid-day trading on Thursday, hitting $120.67. 3,387,729 shares of the stock traded hands, compared to its average volume of 7,179,721. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08. AbbVie has a twelve month low of $61.30 and a twelve month high of $125.86. The company has a market capitalization of $189,340.00, a PE ratio of 36.57, a price-to-earnings-growth ratio of 1.13 and a beta of 1.61.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 26th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.44 by $0.04. AbbVie had a net margin of 18.82% and a return on equity of 152.78%. The business had revenue of $7.74 billion for the quarter, compared to analysts’ expectations of $7.53 billion. During the same quarter last year, the company posted $1.20 earnings per share. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. equities research analysts expect that AbbVie will post 7.46 earnings per share for the current fiscal year.
AbbVie declared that its board has approved a share buyback plan on Thursday, February 15th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
In related news, SVP Timothy J. Richmond sold 87,040 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $98.45, for a total transaction of $8,569,088.00. Following the transaction, the senior vice president now owns 113,118 shares in the company, valued at $11,136,467.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Laura J. Schumacher sold 145,510 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $96.71, for a total transaction of $14,072,272.10. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of ABBV. Jennison Associates LLC acquired a new position in AbbVie in the third quarter worth approximately $544,418,000. Capital International Investors boosted its stake in AbbVie by 137.7% in the 3rd quarter. Capital International Investors now owns 7,854,929 shares of the company’s stock worth $697,989,000 after purchasing an additional 4,550,954 shares during the period. Vanguard Group Inc. boosted its stake in AbbVie by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after purchasing an additional 3,706,941 shares during the period. Janus Henderson Group PLC boosted its stake in AbbVie by 1,949.7% in the 2nd quarter. Janus Henderson Group PLC now owns 3,833,535 shares of the company’s stock worth $277,967,000 after purchasing an additional 3,646,510 shares during the period. Finally, Orbis Allan Gray Ltd boosted its stake in AbbVie by 35.7% in the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after purchasing an additional 3,340,038 shares during the period. Hedge funds and other institutional investors own 69.49% of the company’s stock.
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AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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