Investment analysts at Barclays Capital boosted their price objective on shares of Abbott Laboratories (NYSE:ABT) from $35.00 to $37.00 in a note issued to investors on Thursday, AnalystRatings.Net reports. The firm currently has an “equal weight” rating on the stock. Barclays Capital’s target price points to a potential upside of 3.29% from the stock’s previous close.
Abbott Laboratories (NYSE: ABT) traded down 0.22% on Thursday, hitting $35.74. Abbott Laboratories has a 52-week low of $29.9761 and a 52-week high of $38.77. The stock’s 50-day moving average is currently $35.99. The company has a market cap of $55.714 billion and a price-to-earnings ratio of 10.92.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $0.46 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.44 by $0.02. The company had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.53 billion. During the same quarter in the previous year, the company posted $1.23 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. Abbott Laboratories has set its FY13 guidance at $1.98-2.04 EPS. Analysts expect that Abbott Laboratories will post $2.01 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group reiterated a “buy” rating on shares of Abbott Laboratories in a research note to investors on Friday, July 12th. They now have a $44.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Abbott Laboratories in a research note to investors on Thursday, July 11th. They now have a $36.00 price target on the stock. Finally, analysts at RBC Capital reiterated an “outperform” rating on shares of Abbott Laboratories in a research note to investors on Monday, July 8th. They now have a $34.92 price target on the stock.
Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Abbott Laboratories currently has an average rating of “Buy” and a consensus price target of $38.99.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Thursday, July 11th.
Abbott Laboratories (NYSE: ABT), is engaged in the discovery, development, manufacture, and sale of a portfolio of science-based health care products.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.