The Abbott Laboratories (ABT) Downgraded by Zacks Investment Research

The Abbott Laboratories (ABT) Downgraded by Zacks Investment Research

According to Zacks, “For the majority of last one month, Abbott is trading above the broader Medical Products industry. We are optimistic about the company’s strong and consistent EPD and Medical Devices performance in the last reported first quarter. Overall, the company stands to benefit from the ongoing integration and synergy achievement of St. Jude. We are also looking forward to the company’s plans to focus on selling portfolio in core therapeutic areas. Very recently, Abbott also received CE mark for its TactiCath Sensor and Confirm Rx ICM products which is quite encouraging. The company also launched science-based nutrition drinks for better recovery from surgeries. On the flip side, Abbott’s sluggish pediatric business in China continues to hamper growth. Management is also concerned about the on-going economic problem in Venezuela that is expected to remain unresolved in the coming quarters.”

Zacks Investment Research downgraded shares of Abbott Laboratories (NYSE:ABT) from a buy rating to a hold rating in a report issued on Wednesday morning.

A number of other equities research analysts also recently weighed in on the stock. Morgan Stanley reaffirmed an equal weight rating and set a $42.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, April 19th. Barclays PLC boosted their price objective on shares of Abbott Laboratories from $50.00 to $52.00 and gave the company an overweight rating in a research report on Thursday, April 20th. Cowen and Company reaffirmed an outperform rating and set a $48.00 price objective on shares of Abbott Laboratories in a research report on Saturday, April 22nd. Jefferies Group LLC reaffirmed a buy rating and set a $52.00 price objective (up previously from $51.00) on shares of Abbott Laboratories in a research report on Saturday, March 11th. Finally, BMO Capital Markets downgraded shares of Abbott Laboratories from an outperform rating to a market perform rating and set a $48.00 price objective for the company. in a research report on Tuesday, March 14th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $49.00.

A number of other equities research analysts also recently weighed in on the stock. Morgan Stanley reaffirmed an equal weight rating and set a $42.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, April 19th. Barclays PLC boosted their price objective on shares of Abbott Laboratories from $50.00 to $52.00 and gave the company an overweight rating in a research report on Thursday, April 20th. Cowen and Company reaffirmed an outperform rating and set a $48.00 price objective on shares of Abbott Laboratories in a research report on Saturday, April 22nd. Jefferies Group LLC reaffirmed a buy rating and set a $52.00 price objective (up previously from $51.00) on shares of Abbott Laboratories in a research report on Saturday, March 11th. Finally, BMO Capital Markets downgraded shares of Abbott Laboratories from an outperform rating to a market perform rating and set a $48.00 price objective for the company. in a research report on Tuesday, March 14th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $49.00. Abbott Laboratories (NYSE ABT) opened at 46.50 on Wednesday. Abbott Laboratories has a 12-month low of $36.76 and a 12-month high of $46.55. The stock has a market cap of $80.69 billion, a price-to-earnings ratio of 48.39 and a beta of 0.97. The company’s 50 day moving average price is $44.07 and its 200-day moving average price is $42.42.

In other news, insider Joseph J. Manning sold 4,200 shares of the stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $43.95, for a total value of $184,590.00. Following the completion of the transaction, the insider now directly owns 26,224 shares in the company, valued at $1,152,544.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Roger Bird sold 5,600 shares of the stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $43.82, for a total transaction of $245,392.00. Following the completion of the transaction, the insider now owns 51,313 shares of the company’s stock, valued at $2,248,535.66. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock. Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Abbott Laboratories by 23.8% in the first quarter. Vanguard Group Inc. now owns 126,545,892 shares of the healthcare product maker’s stock valued at $5,619,903,000 after buying an additional 24,357,363 shares during the period. BlackRock Inc. boosted its position in Abbott Laboratories by 2,803.1% in the first quarter. BlackRock Inc. now owns 105,724,808 shares of the healthcare product maker’s stock valued at $4,695,239,000 after buying an additional 102,083,010 shares during the period. State Street Corp boosted its position in Abbott Laboratories by 18.9% in the first quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock valued at $3,574,987,000 after buying an additional 12,806,535 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Abbott Laboratories by 51.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 51,895,715 shares of the healthcare product maker’s stock valued at $2,304,690,000 after buying an additional 17,633,631 shares during the period. Finally, Wellington Management Group LLP boosted its position in Abbott Laboratories by 112.7% in the first quarter. Wellington Management Group LLP now owns 36,441,509 shares of the healthcare product maker’s stock valued at $1,618,368,000 after buying an additional 19,309,345 shares during the period. Institutional investors and hedge funds own 62.20% of the company’s stock.

About Abbott Laboratories 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “ABT”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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