Abbott Laboratories (NYSE:ABT) Given New $136.00 Price Target at Wells Fargo & Company

Abbott Laboratories (NYSE:ABT) had its target price boosted by equities research analysts at Wells Fargo & Company from $133.00 to $136.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the healthcare product maker’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 13.47% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Evercore ISI lifted their target price on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Mizuho lifted their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Sanford C. Bernstein raised their target price on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Raymond James reiterated a “buy” rating and issued a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Finally, Barclays increased their target price on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.50.

Abbott Laboratories Stock Performance

ABT opened at $119.86 on Thursday. The firm has a market cap of $207.88 billion, a P/E ratio of 36.44, a price-to-earnings-growth ratio of 2.50 and a beta of 0.73. The business’s fifty day moving average is $114.91 and its 200-day moving average is $113.08. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $121.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.34. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11,029,400 billion. During the same quarter last year, the business posted $1.19 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Sell-side analysts expect that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Institutional Trading of Abbott Laboratories

Institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP raised its holdings in Abbott Laboratories by 848.8% in the 2nd quarter. Marshall Wace LLP now owns 216,337 shares of the healthcare product maker’s stock worth $22,480,000 after acquiring an additional 193,537 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Abbott Laboratories by 4.6% in the second quarter. AQR Capital Management LLC now owns 871,196 shares of the healthcare product maker’s stock worth $90,421,000 after purchasing an additional 38,676 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Abbott Laboratories by 5.0% during the second quarter. Ameriprise Financial Inc. now owns 10,675,827 shares of the healthcare product maker’s stock valued at $1,103,997,000 after buying an additional 508,524 shares during the last quarter. Dundas Partners LLP increased its holdings in Abbott Laboratories by 2.1% in the 2nd quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock worth $34,313,000 after buying an additional 6,897 shares in the last quarter. Finally, DSM Capital Partners LLC raised its position in Abbott Laboratories by 6.7% in the 2nd quarter. DSM Capital Partners LLC now owns 9,131 shares of the healthcare product maker’s stock worth $949,000 after buying an additional 570 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Company Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.