Abbott Laboratories (NYSE:ABT) Given New $136.00 Price Target at Wells Fargo & Company

Abbott Laboratories (NYSE:ABT) had its price target increased by equities researchers at Wells Fargo & Company from $133.00 to $136.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the healthcare product maker’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 13.47% from the stock’s previous close.

A number of other research analysts have also recently commented on ABT. Royal Bank of Canada reissued an “outperform” rating and issued a $135.00 price target on shares of Abbott Laboratories in a report on Tuesday. Mizuho boosted their target price on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Oppenheimer began coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target on the stock. Piper Sandler increased their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Raymond James reiterated a “buy” rating and issued a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.50.

Abbott Laboratories Stock Performance

Shares of ABT opened at $119.86 on Thursday. The business has a 50-day simple moving average of $114.91 and a two-hundred day simple moving average of $113.08. 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 52 week low of $99.71 and a 52 week high of $121.64. The stock has a market cap of $207.88 billion, a price-to-earnings ratio of 36.44, a PEG ratio of 2.50 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting the consensus estimate of $1.34. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11,029,400 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. Abbott Laboratories’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.19 EPS. On average, analysts expect that Abbott Laboratories will post 4.67 EPS for the current year.

Institutional Investors Weigh In On Abbott Laboratories

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. grew its holdings in shares of Abbott Laboratories by 88.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 500,979 shares of the healthcare product maker’s stock valued at $56,666,000 after buying an additional 235,790 shares during the last quarter. Capital Investment Counsel LLC lifted its holdings in shares of Abbott Laboratories by 3.5% during the fourth quarter. Capital Investment Counsel LLC now owns 5,593 shares of the healthcare product maker’s stock worth $633,000 after purchasing an additional 190 shares during the period. Orca Wealth Management LLC acquired a new position in Abbott Laboratories in the 4th quarter worth approximately $288,000. BSW Wealth Partners raised its position in Abbott Laboratories by 0.9% during the 4th quarter. BSW Wealth Partners now owns 12,426 shares of the healthcare product maker’s stock worth $1,405,000 after buying an additional 116 shares during the last quarter. Finally, Stonegate Investment Group LLC lifted its stake in Abbott Laboratories by 1.0% during the 4th quarter. Stonegate Investment Group LLC now owns 79,552 shares of the healthcare product maker’s stock valued at $8,998,000 after acquiring an additional 758 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

About Abbott Laboratories

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.