Abbott Laboratories (NYSE:ABT) Given New $144.00 Price Target at Evercore ISI

Abbott Laboratories (NYSE:ABT) had its price objective upped by analysts at Evercore ISI from $142.00 to $144.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The firm presently has an “outperform” rating on the healthcare product maker’s stock. Evercore ISI’s price objective would indicate a potential upside of 13.65% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Mizuho raised their price target on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Benchmark started coverage on Abbott Laboratories in a report on Friday, October 10th. They set a “buy” rating and a $145.00 price objective for the company. The Goldman Sachs Group boosted their price target on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Raymond James Financial lifted their price objective on Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Finally, Wells Fargo & Company lifted their price target on shares of Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $147.47.

Abbott Laboratories Trading Up 2.0%

ABT opened at $126.71 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The firm has a market cap of $220.32 billion, a price-to-earnings ratio of 15.85, a price-to-earnings-growth ratio of 2.06 and a beta of 0.72. The business’s 50 day moving average is $125.97 and its two-hundred day moving average is $129.54. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. The business had revenue of $11.37 billion for the quarter, compared to analysts’ expectations of $11.40 billion. During the same period in the prior year, the company posted $1.21 EPS. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, research analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Institutional Investors Weigh In On Abbott Laboratories

Large investors have recently modified their holdings of the stock. Carr Financial Group Corp boosted its stake in shares of Abbott Laboratories by 2.0% during the 3rd quarter. Carr Financial Group Corp now owns 3,880 shares of the healthcare product maker’s stock valued at $520,000 after buying an additional 76 shares during the period. Tortoise Investment Management LLC raised its holdings in shares of Abbott Laboratories by 10.7% during the second quarter. Tortoise Investment Management LLC now owns 795 shares of the healthcare product maker’s stock worth $108,000 after acquiring an additional 77 shares in the last quarter. Gemmer Asset Management LLC boosted its position in Abbott Laboratories by 2.9% during the third quarter. Gemmer Asset Management LLC now owns 2,750 shares of the healthcare product maker’s stock valued at $368,000 after purchasing an additional 78 shares during the last quarter. FF Advisors LLC increased its position in Abbott Laboratories by 4.3% in the 2nd quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock worth $259,000 after purchasing an additional 79 shares during the last quarter. Finally, Charles Schwab Trust Co raised its stake in shares of Abbott Laboratories by 0.6% during the 2nd quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock worth $1,907,000 after purchasing an additional 79 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

About Abbott Laboratories

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.