Abbott Laboratories (NYSE:ABT) shares traded -1.20% lower at $92.85 on Wall Street last session.
In accordance with the data, 26 analysts cover Abbott Laboratories (NYSE:ABT). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $133.00 and a low of $100.00, we find $115.15. Given the previous closing price of $93.98, this indicates a potential upside of 22.53 percent. ABT stock price is now -6.12% away from the 50-day moving average and -11.15% away from the 200-day moving average. The market capitalization of the company currently stands at $161.13B.
It has been rated a hold by 7 analysts and a buy by 13. Brokers who have rated the stock have averaged $115.37 as their price target over the next twelve months.
In other news, Wainer Andrea F, EXECUTIVE VICE PRESIDENT sold 10,400 shares of the company’s stock on Aug 08. The stock was sold for $1,092,297 at an average price of $105.03. Upon completion of the transaction, the EXECUTIVE VICE PRESIDENT now directly owns 65,027 shares in the company, valued at $6.04 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 27, Director STARKS DANIEL J sold 50,000 shares of the business’s stock. A total of $5,688,189 was realized by selling the stock at an average price of $113.76. This leaves the insider owning 6,775,316 shares of the company worth $629.09 million. Insiders disposed of 311,665 shares of company stock worth roughly $28.94 million over the past 1 year. A total of 0.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ABT stock. A new stake in Abbott Laboratories shares was purchased by COMPAGNIE LOMBARD ODIER SCMA during the first quarter worth $72,637,000. JANNEY MONTGOMERY SCOTT LLC invested $55,807,000 in shares of ABT during the first quarter. In the first quarter, UNISUPER MANAGEMENT PTY LTD acquired a new stake in Abbott Laboratories valued at approximately $51,212,000. MML INVESTORS SERVICES, LLC acquired a new stake in ABT for approximately $29,306,000. GREENCAPE CAPITAL PTY LTD purchased a new stake in ABT valued at around $23,101,000 in the second quarter. In total, there are 3,386 active investors with 76.15% ownership of the company’s stock.
Abbott Laboratories (NYSE: ABT) opened at $94.75 on Friday. During the past 12 months, Abbott Laboratories has had a low of $89.67 and a high of $115.83. As of last week, the company has a debt-to-equity ratio of 0.45, a current ratio of 1.64, and a quick ratio of 1.16. The fifty day moving average price for ABT is $98.66 and a two-hundred day moving average price translates $104.40 for the stock.
The latest earnings results from Abbott Laboratories (NYSE: ABT) was released for Sep, 2023. According to the Medical Devices Company, earnings per share came in at $1.08, beating analysts’ expectations of $1.04 by 0.04. This compares to $1.14 EPS in the same period last year. The net profit margin was 12.88% and return on equity was 13.96% for ABT. The company reported revenue of $9.98 billion for the quarter, compared to $11.26 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -11.36 percent. For the current quarter, analysts expect ABT to generate $9.6B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 11/15/2023. Investors who held shares on 10/13/2023 were paid a $0.51 dividend. On an annualized basis, this represents a $1.99 dividend and a 2.14% percent yield. There was an ex-dividend date of 10/12/2023 for this dividend. In terms of dividend payout ratio, ABT is presently at 49.05%.
Abbott Laboratories(ABT) 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 Established Pharmaceutical Products segment 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. The Diagnostic Products segment offers laboratory systems in the areas of immunoassay, clinical chemistry, hematology, and transfusion; molecular diagnostics systems that automate the extraction, purification, and preparation of DNA and RNA from patient samples, as well as detect and measure infectious agents; point of care systems; cartridges for testing blood; rapid diagnostics lateral flow testing products; molecular point-of-care testing for HIV, SARS-CoV-2, influenza A and B, RSV, and strep A; cardiometabolic test systems; drug and alcohol test, and remote patient monitoring and consumer self-test systems; and informatics and automation solutions for use in laboratories. The Nutritional Products segment provides pediatric and adult nutritional products. The Medical Devices segment offers rhythm management, electrophysiology, heart failure, vascular, and structural heart devices for the treatment of cardiovascular diseases; and diabetes care products, as well as neuromodulation devices for the management of chronic pain and movement disorders. Abbott Laboratories was founded in 1888 and is based in North Chicago, Illinois.
