Abbott Laboratories (NYSE: ABT) has seen a significant adjustment in its stock price target, as Raymond James Financial lowered its objective from $146.00 to $130.00 in a report published on October 20, 2023. Despite this reduction, the brokerage maintains an “outperform” rating on the company’s shares. The revised target suggests a potential upside of 19.61% based on the stock’s previous closing price.
Additional insights from various equity analysts reflect a mixed outlook for Abbott Laboratories. On October 21, 2023, Daiwa Capital Markets raised its price target from $134.00 to $136.00, also issuing an “outperform” rating. Conversely, the Goldman Sachs Group adjusted their price target downward from $152.00 to $140.00, maintaining a “buy” rating. Barclays increased its target from $162.00 to $169.00 and assigned an “overweight” rating. Similarly, Sanford C. Bernstein lifted its price target from $150.00 to $154.00, while BTIG Research decreased its target from $145.00 to $140.00, continuing to recommend a “buy” rating.
As of now, the consensus among analysts indicates a strong interest in Abbott Laboratories, with two research analysts rating it as a “Strong Buy,” seventeen giving it a “Buy” rating, and three issuing a “Hold” rating. According to MarketBeat.com, the company currently holds a consensus rating of “Moderate Buy” and a target price averaging $143.37.
Recent Earnings Performance
Abbott Laboratories recently reported its earnings for the fourth quarter on January 22, 2024, revealing an earnings per share (EPS) of $1.50, which aligns with analysts’ expectations. The company achieved a return on equity of 17.60% and a net margin of 31.88%. Revenue for the quarter totaled $11.46 billion, slightly falling short of the anticipated $11.80 billion. This represents a 4.4% increase compared to the same quarter last year, when the company reported an EPS of $1.34.
Looking ahead, Abbott Laboratories has set its guidance for the first quarter of 2026 between $1.120 and $1.180 EPS, with a full-year guidance ranging from $5.550 to $5.800 EPS. Analysts predict that Abbott Laboratories will report an average of $5.14 EPS for the current fiscal year.
Institutional Investor Activity
Recent activity among institutional investors shows a notable shift in holdings for Abbott Laboratories. IMG Wealth Management Inc. increased its stake in the company by a substantial 759.1% during the second quarter, bringing its total to 189 shares, valued at approximately $26,000. Other recent adjustments include Harbor Capital Advisors Inc. acquiring a new stake worth around $27,000, and Cloud Capital Management LLC investing approximately $29,000 in the third quarter. Anfield Capital Management LLC also raised its stake by 81.3% in the same timeframe.
Currently, institutional investors hold 75.18% of Abbott Laboratories’ stock, indicating strong confidence in the company’s future prospects.
Abbott Laboratories, headquartered in Abbott Park, Illinois, is a prominent player in the global healthcare sector. Established in 1888, the company specializes in the development and marketing of a diverse array of medical products and services. Its operations span various sectors, including diagnostics, medical devices, nutritionals, and established pharmaceuticals, providing essential products to hospitals, clinics, and consumers alike.
