Abbott Laboratories (NYSE:ABT) Rating Reconfirmed
In analysts note revealed to clients on Friday, 16 June, Abbott Laboratories (NYSE:ABT) stock “Buy” was reconfirmed by Analysts at Jefferies & Co. They currently have a $55.00 target price on the stock. Jefferies & Co’s target price indicates a potential upside of 14.08 % from the company’s current stock price.
NYSE:ABT is right now trading 0.19% higher at $48.21 as of 8:07 AM New York time. Abbott Laboratories’s stock is 0% over the past 200 days. It has underperformed the S&P 500, which has added 6.00% over the same time.
According to data compiled by Thomson Reuters, Abbott Laboratories (NYSE:ABT)’s stock is covered by 15 equity analysts across the Street, with 0 analysts giving it a Sell rating, 14 a Buy rating, while 6 consider it a Hold. The 12-month consensus target price for the stock is $46.73, which reflects an downside potential of 3.07% over the current price.
Arrow Capital Management Llc had the most significant stake with ownership of 264,455 shares as of q2 2015 for 14.26% of the fund portfolio. Flossbach Von Storch Ag is another very bullish fund who is possessing 14.30 million shares of Abbott Laboratories or 10.09% of their fund portfolio. In addition, Mondrian Investment Partners Ltd have 7.25% of their fund portfolio invested in the company for 7.00 million shares. The Delaware-based fund Brandywine Trust Co revealed it had bought a stake worth about 6.96% of the fund’s stock portfolio in Abbott Laboratories. The Norway-based fund Sector Gamma As is also positive about the stock, possessing 224,855 shares or 6.52% of their fund portfolio.
Abbott Laboratories (NYSE:ABT) Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
Abbott Laboratories (NYSE:ABT) traded up 0.19% on 16 June, hitting $48.21. A total of 9.90 million shares of the company’s stock traded hands. This is up from average of 6.57 million shares. Abbott Laboratories has a 52 week low of $36.76 and a 52 week high of $48.38. The company has a market cap of $84.66 billion and a P/E ratio of 53.52.
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