Abbott Laboratories (NYSE:ABT) SVP Jared Watkin sold 297 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $59.29, for a total value of $17,609.13. Following the completion of the sale, the senior vice president now owns 74,357 shares in the company, valued at approximately $4,408,626.53. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of Abbott Laboratories (NYSE ABT) remained flat at $$58.99 during trading hours on Thursday. 2,053,759 shares of the company’s stock were exchanged, compared to its average volume of 7,481,413. The stock has a market cap of $102,700.00, a price-to-earnings ratio of 56.77, a PEG ratio of 1.78 and a beta of 1.55. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. Abbott Laboratories has a one year low of $42.31 and a one year high of $64.60.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $7.38 billion. Abbott Laboratories had a return on equity of 13.80% and a net margin of 1.74%. Abbott Laboratories’s quarterly revenue was up 42.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 EPS. equities research analysts anticipate that Abbott Laboratories will post 2.86 EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of the business. Cobblestone Capital Advisors LLC NY lifted its stake in shares of Abbott Laboratories by 0.3% during the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 16,511 shares of the healthcare product maker’s stock worth $803,000 after purchasing an additional 56 shares during the period. National Planning Corp lifted its stake in shares of Abbott Laboratories by 0.3% during the 2nd quarter. National Planning Corp now owns 26,732 shares of the healthcare product maker’s stock worth $1,302,000 after purchasing an additional 83 shares during the period. Farmers National Bank lifted its stake in shares of Abbott Laboratories by 2.4% during the 2nd quarter. Farmers National Bank now owns 3,653 shares of the healthcare product maker’s stock worth $178,000 after purchasing an additional 85 shares during the period. Flagship Harbor Advisors LLC lifted its stake in shares of Abbott Laboratories by 0.7% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 12,341 shares of the healthcare product maker’s stock worth $600,000 after purchasing an additional 87 shares during the period. Finally, Hedeker Wealth LLC lifted its stake in shares of Abbott Laboratories by 0.5% during the 2nd quarter. Hedeker Wealth LLC now owns 24,678 shares of the healthcare product maker’s stock worth $1,199,000 after purchasing an additional 116 shares during the period. 70.01% of the stock is currently owned by institutional investors.
A number of research firms recently weighed in on ABT. Bank of America upped their price target on Abbott Laboratories from $60.00 to $70.00 in a report on Wednesday, January 24th. They noted that the move was a valuation call. Leerink Swann restated a “market perform” rating and issued a $68.00 price target (up previously from $60.00) on shares of Abbott Laboratories in a report on Thursday, January 25th. BMO Capital Markets upped their price target on Abbott Laboratories from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Evercore ISI began coverage on Abbott Laboratories in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $64.00 price target on the stock. Finally, Stifel Nicolaus upped their price target on Abbott Laboratories from $63.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $65.47.
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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.
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