Abbott Laboratories (NYSE:ABT)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued to clients and investors on Friday, Analyst Ratings Net reports. They currently have a $40.00 price target on the stock. Zacks‘ target price suggests a potential upside of 4.74% from the company’s current price.
Zacks‘ analyst wrote, “Abbott reported third quarter 2013 earnings of $0.55 per share, beating the Zacks Consensus Estimate of $0.51. Sales of $5.4 billion were up 2.0% year over year, in line with the Zacks Consensus Estimate. The year-over-year growth was primarily driven by the solid performance of the Diagnostics and Medical Devices segments. However, sales in the third quarter were adversely impacted by the disruption in international Nutrition sales. Abbott continues to expect earnings per share between $1.98 and $2.04 in 2013. Although earnings beat expectations, we were disappointed by the disruption in international nutrition sales. The disruption is likely to stretch into the first half of 2014. The Nutrition division is the company’s fastest growing business and hence a disruption in business will impact growth rates going forward. Nevertheless, the recent increase in dividends is an attractive feature. We remain Neutral on the stock. “
Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs Group Inc. reiterated a “positive” rating on shares of Abbott Laboratories in a research note to investors on Tuesday, November 19th. Separately, analysts at Jefferies Group raised their price target on shares of Abbott Laboratories from $44.00 to $46.00 in a research note to investors on Monday, October 21st. They now have a “buy” rating on the stock. Finally, analysts at Stifel Nicolaus cut their price target on shares of Abbott Laboratories from $44.00 to $40.00 in a research note to investors on Monday, October 7th. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $37.92.
Abbott Laboratories (NYSE:ABT) traded down 0.34% during mid-day trading on Friday, hitting $38.19. 3,512,744 shares of the company’s stock traded hands. Abbott Laboratories has a one year low of $30.712 and a one year high of $38.81. The stock’s 50-day moving average is $36.98 and its 200-day moving average is $35.91. The company has a market cap of $59.049 billion and a price-to-earnings ratio of 20.03.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 16th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.52 by $0.03. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter in the prior year, the company posted $1.30 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. Analysts expect that Abbott Laboratories will post $2.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Saturday, February 15th. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Monday, January 13th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.14.
Abbott Laboratories (NYSE:ABT), is engaged in the discovery, development, manufacture, and sale of a portfolio of science-based health care products.
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