11,014 Abbott Laboratories $ABT Shares Acquired by Modera Wealth Management LLC

Modera Wealth Management LLC increased its stake in Abbott Laboratories (NYSE:ABT) by 11.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 110,108 shares of the healthcare product maker’s stock after buying an additional 11,014 shares during the period. Modera Wealth Management LLC’s holdings in Abbott Laboratories were worth $10,882,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC bought a new position in Abbott Laboratories during the 2nd quarter valued at $31,000. Foresight Capital Management Advisors Inc. bought a new stake in shares of Abbott Laboratories in the 3rd quarter worth about $31,000. Balance Wealth Partners LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter worth about $34,000. Summit Securities Group LLC increased its position in shares of Abbott Laboratories by 41.3% in the 2nd quarter. Summit Securities Group LLC now owns 404 shares of the healthcare product maker’s stock worth $37,000 after purchasing an additional 118 shares during the last quarter. Finally, Addison Advisors LLC acquired a new stake in shares of Abbott Laboratories in the 2nd quarter valued at about $40,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Up 1.7%

ABT stock opened at $106.33 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.38 and a quick ratio of 0.97. Abbott Laboratories has a 1-year low of $81.97 and a 1-year high of $132.02. The firm has a fifty day moving average price of $104.36 and a two-hundred day moving average price of $102.06. The firm has a market cap of $183.99 billion, a price-to-earnings ratio of 39.68, a PEG ratio of 1.83 and a beta of 0.59.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.42. Abbott Laboratories had a net margin of 9.75% and a return on equity of 17.97%. The company had revenue of $13.01 billion for the quarter, compared to analysts’ expectations of $12.99 billion. During the same period in the prior year, the company earned $1.30 earnings per share. The firm’s revenue was up 14.5% compared to the same quarter last year. Research analysts predict that Abbott Laboratories will post 5.52 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be paid a dividend of $0.63 per share. The ex-dividend date is Thursday, October 15th. This represents a $2.52 annualized dividend and a yield of 2.4%. Abbott Laboratories’s dividend payout ratio is 94.03%.

Abbott Laboratories News Summary

Here are the key news stories impacting Abbott Laboratories this week:

• Positive Sentiment: Abbott began the pivotal CROWN-MV trial for its investigational Cephea Mitral Valve System, designed as a minimally invasive treatment for symptomatic mitral valve disease patients who are ineligible for surgery or transcatheter repair. Successful development could expand Abbott’s structural-heart portfolio, although the device remains investigational and carries clinical and regulatory risk. Abbott initiates pivotal trial for Cephea device
• Positive Sentiment: Industry reports forecast strong expansion in point-of-care diagnostics across South and Central America and continued growth in home INR monitoring. Abbott is listed among the key suppliers, suggesting potential long-term opportunities for its diagnostics business through testing volume, instruments and recurring consumables. South and Central America point-of-care diagnostics market Point-of-care INR testing market
• Neutral Sentiment: Discussion of Abbott’s approaching breakup highlights the potential for value creation through separating businesses, but also raises questions about execution, valuation and how costs and growth prospects will be allocated among the resulting companies. Can Abbott Laboratories Stay Reasonable As Its Breakup Nears?
• Negative Sentiment: Dexcom exceeded expectations and raised guidance, underscoring robust demand for continuous glucose-monitoring wearables but also intensifying competitive pressure on Abbott’s FreeStyle Libre franchise. Stronger execution by Dexcom could weigh on expectations for Abbott’s diabetes-care growth. Dexcom shakes off Abbott-tied malaise
• Negative Sentiment: Argus downgraded Abbott Laboratories, adding a near-term valuation and analyst-sentiment headwind. Abbott Laboratories stock gets downgrade from Argus

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ABT shares. TD Cowen reduced their price target on shares of Abbott Laboratories from $135.00 to $118.00 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. JPMorgan Chase & Co. lowered their price objective on Abbott Laboratories from $120.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, October 22nd. Robert W. Baird upped their price objective on Abbott Laboratories from $121.00 to $123.00 and gave the company an “outperform” rating in a research note on Thursday, October 22nd. Wells Fargo & Company increased their target price on Abbott Laboratories from $112.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, October 22nd. Finally, Citigroup reduced their target price on Abbott Laboratories from $125.00 to $122.00 and set a “buy” rating on the stock in a report on Thursday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $118.32.

Abbott Laboratories Profile

Abbott Laboratories is a global healthcare company that develops, manufactures and markets a broad range of medical products and services. Founded in 1888 by Wallace C. Abbott, the company is headquartered in Abbott Park, Illinois, and serves patients, healthcare providers and consumers in markets around the world.

Abbott operates across four principal businesses: medical devices, diagnostics, nutrition and established pharmaceutical products. Its offerings include glucose-monitoring systems such as FreeStyle Libre; cardiovascular devices, including stents and structural heart products; laboratory and point-of-care diagnostic systems; and branded generic medicines in areas such as gastroenterology, women’s health and cardiometabolic care.

The company’s nutrition portfolio includes infant and pediatric products such as Similac and PediaSure, adult nutritional products such as Ensure, and rehydration products such as Pedialyte.