November 24, 2016 - By Dolores Ford · 0 Comments
Abbott Laboratories (NYSE:ABT) institutional sentiment decreased to 0.96 in Q2 2016. Its down -0.09, from 1.05 in 2016Q1. The ratio is negative, as 586 institutional investors increased and opened new equity positions, while 556 cut down and sold stakes in Abbott Laboratories. The institutional investors in our partner’s database reported: 1.05 billion shares, up from 1.02 billion shares in 2016Q1. Also, the number of institutional investors holding Abbott Laboratories in their top 10 equity positions increased from 23 to 35 for an increase of 12. Sold All: 68 Reduced: 488 Increased: 507 New Position: 79.
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The company has a market cap of $56.26 billion. The Firm operates in four business divisions: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. It has a 58.62 P/E ratio. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.
The stock increased 2.31% or $0.88 on November 23, hitting $38.98. About 9.57M shares traded hands or 9.50% up from the average. Abbott Laboratories (NYSE:ABT) has declined 11.57% since April 22, 2016 and is downtrending. It has underperformed by 16.98% the S&P500.
Analysts await Abbott Laboratories (NYSE:ABT) to report earnings on January, 26. They expect $0.65 earnings per share, up 4.84% or $0.03 from last year’s $0.62 per share. ABT’s profit will be $938.15 million for 14.99 P/E if the $0.65 EPS becomes a reality. After $0.59 actual earnings per share reported by Abbott Laboratories for the previous quarter, Wall Street now forecasts 10.17% EPS growth.
According to Zacks Investment Research, “Abbott is a global healthcare company devoted to improving life through the development of products and technologies that span the breadth of healthcare. They have a portfolio of leading, science-based offerings in diagnostics, medical devices, nutritionals and branded generic pharmaceuticals.”
Arrow Capital Management Llc holds 19.32% of its portfolio in Abbott Laboratories for 301,455 shares. Flossbach Von Storch Ag owns 14.51 million shares or 9.8% of their US portfolio. Moreover, Jarislowsky Fraser Ltd has 7.37% invested in the company for 18.80 million shares. The United Kingdom-based Mondrian Investment Partners Ltd has invested 7.03% in the stock. Brandywine Trust Co, a Delaware-based fund reported 224,855 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 4 insider buys, and 7 sales for $12.02 million net activity.
Ratings analysis reveals 56% of Abbott Laboratories’s analysts are positive. Out of 16 Wall Street analysts rating Abbott Laboratories, 9 give it “Buy”, 0 “Sell” rating, while 7 recommend “Hold”. The lowest target is $9 while the high is $90. The stock’s average target of $48.83 is 25.27% above today’s ($38.98) share price. ABT was included in 40 notes of analysts from July 24, 2015. The company was maintained on Saturday, August 29 by BTIG Research. The rating was maintained by Jefferies with “Buy” on Tuesday, June 14. Stifel Nicolaus maintained it with “Buy” rating and $58 target price in Thursday, July 23 report. The company was downgraded on Friday, January 29 by William Blair. As per Saturday, August 29, the company rating was maintained by Deutsche Bank. Morgan Stanley downgraded the shares of ABT in a report on Monday, January 4 to “Equal-Weight” rating. Edward Jones upgraded the stock to “Buy” rating in Tuesday, June 21 report. The firm has “Buy” rating by Jefferies given on Tuesday, September 13. The stock has “Buy” rating given by Wells Fargo on Thursday, August 27. The stock of Abbott Laboratories (NYSE:ABT) earned “Overweight” rating by Barclays Capital on Wednesday, October 7.
Abbott Laboratories (Abbott), incorporated on March 6, 1900, is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Firm operates in four business divisions: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products. The Nutrition Products segment includes the sales of a line of adult and pediatric nutritional products. The Diagnostic Products includes the sales of diagnostic systems and tests for blood banks, hospitals, commercial laboratories and alternate-care testing sites. The Vascular Products includes the sales of coronary, endovascular, structural heart, vessel closure and other medical device products.
More notable recent Abbott Laboratories (NYSE:ABT) news were published by: Barrons.com which released: “Abbott Labs CEO Doubles His Stock Holdings” on November 23, 2016, also 247Wallst.com with their article: “Massive Energy and Health Care Trades Highlight Insider Buying: Abbott Labs …” published on November 20, 2016, Seekingalpha.com published: “Abbott Laboratories Is A Long-Term Buy – Cramer’s Lightning Round (11/18/16)” on November 21, 2016. More interesting news about Abbott Laboratories (NYSE:ABT) were released by: Reuters.com and their article: “Exclusive: EU regulators seen clearing $25 billion Abbott, St Jude deal: s…” published on November 15, 2016 as well as Law360.com‘s news article titled: “Deals Rumor Mill: Snapchat, Viacom, Abbott Laboratories” with publication date: November 15, 2016.
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By Dolores Ford