Abbott Laboratories (NYSE:ABT) Price Target Lowered to $125.00 at Royal Bank of Canada

Abbott Laboratories (NYSE:ABT) had its price objective cut by analysts at Royal Bank of Canada from $128.00 to $125.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the healthcare product maker’s stock. Royal Bank of Canada’s price target suggests a potential upside of 18.76% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Evercore ISI upped their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Citigroup boosted their target price on Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Raymond James boosted their target price on Abbott Laboratories from $124.00 to $127.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Barclays boosted their target price on Abbott Laboratories from $133.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Finally, TheStreet raised Abbott Laboratories from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $121.31.

Abbott Laboratories Price Performance

ABT traded down $0.65 during trading on Thursday, hitting $105.25. The company’s stock had a trading volume of 2,098,589 shares, compared to its average volume of 5,628,612. The stock has a market capitalization of $182.63 billion, a price-to-earnings ratio of 32.25, a price-to-earnings-growth ratio of 2.63 and a beta of 0.74. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. The firm’s 50 day moving average price is $114.42 and its two-hundred day moving average price is $107.59.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The company had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $9.88 billion. Abbott Laboratories had a return on equity of 20.65% and a net margin of 14.27%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.03 earnings per share. Sell-side analysts forecast that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Abbott Laboratories news, VP John A. Jr. Mccoy sold 472 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the transaction, the vice president now owns 18,760 shares in the company, valued at approximately $2,223,060. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Abbott Laboratories news, VP John A. Jr. Mccoy sold 472 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the sale, the vice president now owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Andrea F. Wainer sold 12,500 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the completion of the sale, the executive vice president now directly owns 78,704 shares in the company, valued at approximately $9,444,480. The disclosure for this sale can be found here. Insiders have sold a total of 56,435 shares of company stock worth $6,451,298 in the last 90 days. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Abbott Laboratories

Several hedge funds have recently modified their holdings of the company. Alliance Wealth Advisors LLC UT boosted its holdings in shares of Abbott Laboratories by 0.4% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 25,085 shares of the healthcare product maker’s stock valued at $2,761,000 after acquiring an additional 92 shares in the last quarter. Rappaport Reiches Capital Management LLC increased its position in Abbott Laboratories by 0.8% in the 4th quarter. Rappaport Reiches Capital Management LLC now owns 12,287 shares of the healthcare product maker’s stock valued at $1,352,000 after buying an additional 94 shares in the last quarter. Avion Wealth increased its position in Abbott Laboratories by 19.4% in the 4th quarter. Avion Wealth now owns 591 shares of the healthcare product maker’s stock valued at $65,000 after buying an additional 96 shares in the last quarter. Patriot Investment Management Group Inc. increased its position in Abbott Laboratories by 3.1% in the 4th quarter. Patriot Investment Management Group Inc. now owns 3,236 shares of the healthcare product maker’s stock valued at $356,000 after buying an additional 96 shares in the last quarter. Finally, Wynn Capital LLC boosted its stake in Abbott Laboratories by 2.9% during the 1st quarter. Wynn Capital LLC now owns 3,427 shares of the healthcare product maker’s stock valued at $390,000 after purchasing an additional 98 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

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.