Mizuho Increases Abbott Laboratories (NYSE:ABT) Price Target to $130.00

Abbott Laboratories (NYSE:ABT) had its target price raised by stock analysts at Mizuho from $115.00 to $130.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the healthcare product maker’s stock. Mizuho’s price target would indicate a potential upside of 8.89% from the company’s current price.

A number of other equities research analysts have also recently issued reports on ABT. Oppenheimer assumed coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price for the company. Barclays boosted their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Raymond James reissued a “buy” rating and issued a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Citigroup boosted their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $120.00 target price on shares of Abbott Laboratories in a research report on Thursday, September 26th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $129.67.

Abbott Laboratories Price Performance

NYSE:ABT opened at $119.39 on Thursday. Abbott Laboratories has a one year low of $91.64 and a one year high of $121.64. The company has a market cap of $207.69 billion, a P/E ratio of 37.19, a P/E/G ratio of 2.74 and a beta of 0.72. The firm’s fifty day moving average price is $113.97 and its two-hundred day moving average price is $108.52. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. During the same period in the previous year, the company earned $1.14 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Equities analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current year.

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Unique Wealth Strategies LLC acquired a new position in shares of Abbott Laboratories in the second quarter valued at approximately $28,000. Redmont Wealth Advisors LLC acquired a new position in shares of Abbott Laboratories in the first quarter valued at approximately $30,000. Future Financial Wealth Managment LLC acquired a new position in shares of Abbott Laboratories in the third quarter valued at approximately $31,000. Itau Unibanco Holding S.A. acquired a new position in shares of Abbott Laboratories in the second quarter valued at approximately $32,000. Finally, Ridgewood Investments LLC acquired a new position in shares of Abbott Laboratories in the second quarter valued at approximately $37,000. 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.