Evercore ISI Boosts Abbott Laboratories (NYSE:ABT) Price Target to $136.00

Abbott Laboratories (NYSE:ABT) had its price target hoisted by stock analysts at Evercore ISI to $136.00 in a research report issued to clients and investors on Thursday, Stock Target Advisor reports. The brokerage presently has a “buy” rating on the healthcare product maker’s stock. Evercore ISI’s price objective would indicate a potential upside of 19.48% from the company’s current price.

Several other equities analysts have also issued reports on ABT. Mizuho boosted their price target on 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 increased their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Jefferies Financial Group lifted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target for the company. Finally, UBS Group lifted their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $131.57.

Abbott Laboratories Price Performance

NYSE ABT opened at $113.83 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $121.64. The company has a 50 day moving average price of $115.47 and a two-hundred day moving average price of $112.08. The stock has a market capitalization of $197.43 billion, a PE ratio of 34.60, a price-to-earnings-growth ratio of 2.69 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 earnings per share. As a group, equities analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Abbott Laboratories

A number of hedge funds have recently added to or reduced their stakes in the stock. First Citizens Financial Corp lifted its position in shares of Abbott Laboratories by 6.3% during the fourth quarter. First Citizens Financial Corp now owns 1,928 shares of the healthcare product maker’s stock worth $218,000 after purchasing an additional 115 shares in the last quarter. Everence Capital Management Inc. raised its position in Abbott Laboratories by 43.7% in the 4th quarter. Everence Capital Management Inc. now owns 44,020 shares of the healthcare product maker’s stock worth $4,979,000 after purchasing an additional 13,380 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Abbott Laboratories by 17.3% during the 4th quarter. GAMMA Investing LLC now owns 32,877 shares of the healthcare product maker’s stock worth $3,719,000 after buying an additional 4,852 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Abbott Laboratories by 115.7% in the 4th quarter. Versant Capital Management Inc now owns 2,998 shares of the healthcare product maker’s stock valued at $339,000 after buying an additional 1,608 shares during the period. Finally, Syntax Research Inc. bought a new stake in shares of Abbott Laboratories during the third quarter worth $2,280,000. Institutional investors 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.