Paragon Capital Management Ltd reduced its position in Abbott Laboratories (NYSE:ABT – Free Report) by 8.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 6,745 shares of the healthcare product maker’s stock after selling 657 shares during the quarter. Paragon Capital Management Ltd’s holdings in Abbott Laboratories were worth $735,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of the company. Altshuler Shaham Ltd acquired a new position in shares of Abbott Laboratories during the fourth quarter worth about $28,000. Monumental Financial Group Inc. acquired a new position in Abbott Laboratories during the 1st quarter worth approximately $32,000. FWL Investment Management LLC acquired a new position in Abbott Laboratories during the fourth quarter worth $33,000. True Wealth Design LLC acquired a new position in Abbott Laboratories during the fourth quarter worth $33,000. Finally, Ridgewood Investments LLC acquired a new position in Abbott Laboratories during the first quarter worth $36,000. 73.70% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on ABT shares. Wolfe Research raised shares of Abbott Laboratories from an “underperform” rating to a “peer perform” rating in a research note on Friday, July 21st. Mizuho upped their price target on Abbott Laboratories from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. StockNews.com began coverage on Abbott Laboratories in a report on Thursday, August 17th. They issued a “buy” rating on the stock. Morgan Stanley reissued an “equal weight” rating and issued a $112.00 target price on shares of Abbott Laboratories in a report on Friday, July 21st. Finally, Barclays upped their target price on Abbott Laboratories from $127.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, July 24th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.82.
Abbott Laboratories Trading Down 0.9 %
NYSE ABT traded down $0.91 during trading hours on Friday, hitting $101.74. 8,303,319 shares of the company’s stock were exchanged, compared to its average volume of 4,914,443. The business’s 50 day moving average is $106.17 and its 200-day moving average is $105.21. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.16 and a current ratio of 1.64. Abbott Laboratories has a 12-month low of $93.25 and a 12-month high of $115.83. The firm has a market capitalization of $176.56 billion, a P/E ratio of 34.72, a price-to-earnings-growth ratio of 4.59 and a beta of 0.68.
Abbott Laboratories (NYSE:ABT – Get Free Report) last released its earnings results on Thursday, July 20th. The healthcare product maker reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.03. Abbott Laboratories had a net margin of 12.83% and a return on equity of 20.50%. The business had revenue of $9.98 billion for the quarter, compared to analysts’ expectations of $9.71 billion. During the same period last year, the company earned $1.43 earnings per share. The company’s quarterly revenue was down 11.4% on a year-over-year basis. As a group, analysts anticipate that Abbott Laboratories will post 4.4 EPS for the current fiscal year.
Insider Transactions at Abbott Laboratories
In related news, Director Daniel J. Starks sold 50,000 shares of Abbott Laboratories stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $113.76, for a total value of $5,688,000.00. Following the transaction, the director now owns 6,775,316 shares in the company, valued at $770,759,948.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Andrea F. Wainer sold 10,400 shares of Abbott Laboratories stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $105.03, for a total transaction of $1,092,312.00. Following the transaction, the executive vice president now owns 65,027 shares in the company, valued at approximately $6,829,785.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel J. Starks sold 50,000 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $113.76, for a total value of $5,688,000.00. Following the transaction, the director now owns 6,775,316 shares in the company, valued at approximately $770,759,948.16. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Abbott Laboratories 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 Established Pharmaceutical Products segment 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.
Receive News & Ratings for Abbott Laboratories Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Abbott Laboratories and related companies with MarketBeat.com’s FREE daily email newsletter.