Abbott Laboratories (NYSE:ABT): A Fundamentally Weighted Stock for Long-Term Investors

The stock of Abbott Laboratories (NYSE:ABT) last traded at $99.55, down -0.71% from the previous session.

Data from the available sources indicates that Abbott Laboratories (NYSE:ABT) is covered by 24 analysts. 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 $100.26, this indicates a potential upside of 14.85 percent. ABT stock price is now 3.16% away from the 50-day moving average and -3.60% away from the 200-day moving average. The market capitalization of the company currently stands at $172.82B.

In total, 7 analysts have assigned it a hold rating, and 11 have given it a buy rating. Brokers who have rated the stock have averaged $115.37 as their price target over the next twelve months.

In other news, STARKS DANIEL J, Director sold 50,000 shares of the company’s stock on Oct 26. The stock was sold for $4,702,526 at an average price of $94.05. Upon completion of the transaction, the Director now directly owns 6,725,316 shares in the company, valued at $669.51 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 08, EXECUTIVE VICE PRESIDENT Wainer Andrea F sold 10,400 shares of the business’s stock. A total of $1,092,297 was realized by selling the stock at an average price of $105.03. This leaves the insider owning 65,027 shares of the company worth $6.47 million. Insiders disposed of 359,131 shares of company stock worth roughly $35.75 million over the past 1 year. A total of 0.70% of the company’s stock is owned by insiders.

With an opening price of $100.43 on Friday morning, Abbott Laboratories (NYSE: ABT) set off the trading day. 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 0.41, a current ratio of 1.74, and a quick ratio of 1.23. The fifty day moving average price for ABT is $96.47 and a two-hundred day moving average price translates $103.20 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 $1.14, beating analysts’ expectations of $1.1 by 0.04. This compares to $0.81 EPS in the same period last year. The net profit margin was 12.87% and return on equity was 14.06% for ABT. The company reported revenue of $10.14 billion for the quarter, compared to $10.41 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -2.56 percent. For the current quarter, analysts expect ABT to generate $10.18B in revenue.

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.