Barclays Says Its Time To Overweight Abbott Labs (NYSE:ABT). Will Stock Hit Their Target of $80?

October 16, 2018 - By Hazel Jackson

Abbott Laboratories (NYSE:ABT) Logo

Investors sentiment increased to 0.86 in 2018 Q2. Its up 0.03, from 0.83 in 2018Q1. It increased, as 41 investors sold Abbott Laboratories shares while 583 reduced holdings. 117 funds opened positions while 420 raised stakes. 1.23 billion shares or 0.63% more from 1.22 billion shares in 2018Q1 were reported.

Atlas Browninc reported 27,262 shares. 50,654 are held by City Holdings. 7,277 are held by Hilltop Holdg. Cibc Asset Mngmt has 160,322 shares for 0.06% of their portfolio. Stralem Comm holds 151,385 shares. Ogorek Anthony Joseph Ny Adv holds 0.07% of its portfolio in Abbott Laboratories (NYSE:ABT) for 1,465 shares. The Texas-based Eagle Glob Advsr Ltd Limited Liability Company has invested 0.01% in Abbott Laboratories (NYSE:ABT). Holt Capital Advisors Limited Liability Company Dba Holt Capital Partners L P has 0.37% invested in Abbott Laboratories (NYSE:ABT) for 20,380 shares. Tokio Marine Asset accumulated 0.05% or 4,207 shares. Lipe Dalton has invested 0.1% in Abbott Laboratories (NYSE:ABT). Dana Inv owns 53,903 shares. Acg Wealth invested in 8,603 shares or 0.08% of the stock. California-based Phocas Corporation has invested 0.02% in Abbott Laboratories (NYSE:ABT). Sweden-based Livforsakringsbolaget Skandia Omsesidigt has invested 0.18% in Abbott Laboratories (NYSE:ABT). Adirondack Rech Mngmt Inc holds 6,585 shares.

Since April 23, 2018, it had 0 insider buys, and 10 sales for $14.54 million activity. Contreras Jaime also sold $4.30M worth of Abbott Laboratories (NYSE:ABT) on Wednesday, August 29. Shares for $4.22 million were sold by CAPEK JOHN M on Wednesday, July 25. 15,100 shares were sold by Blaser Brian J, worth $965,789 on Tuesday, July 24. On Thursday, May 17 the insider Salvadori Daniel Gesua Sive sold $183,592. Shares for $66,601 were sold by PEDERSON MICHAEL J. $610,513 worth of Abbott Laboratories (NYSE:ABT) was sold by LANE ANDREW H on Wednesday, August 29.

Why Has Barclays Given Abbott Labs (NYSE:ABT) a $80 Price Target

Analysts at Barclays has started coverage on shares of Abbott Labs (NYSE:ABT) in analysts report revealed to investors and clients on 16 October. The financial firm set Overweight rating on the $124.47 billion market cap company.

Abbott Laboratories (NYSE:ABT) Ratings Coverage

Among 8 analysts covering Abbott Labs (NYSE:ABT), 7 have Buy rating, 0 Sell and 1 Hold. Therefore 88% are positive. Abbott Labs has $81 highest and $65 lowest target. $74.50’s average target is 5.00% above currents $70.95 stock price. Abbott Labs had 8 analyst reports since April 18, 2018 according to SRatingsIntel. Jefferies maintained Abbott Laboratories (NYSE:ABT) rating on Wednesday, April 18. Jefferies has “Buy” rating and $6800 target. The stock of Abbott Laboratories (NYSE:ABT) earned “Outperform” rating by Raymond James on Monday, September 24. The company was maintained on Thursday, October 11 by Morgan Stanley. The stock of Abbott Laboratories (NYSE:ABT) earned “Overweight” rating by JP Morgan on Monday, October 8. The firm earned “Buy” rating on Thursday, July 19 by Stifel Nicolaus. Wells Fargo maintained it with “Outperform” rating and $80 target in Monday, September 24 report. Citigroup maintained it with “Neutral” rating and $65 target in Tuesday, April 24 report.

The stock increased 3.28% or $2.25 during the last trading session, reaching $70.95. About 7.62 million shares traded or 37.27% up from the average. Abbott Laboratories (NYSE:ABT) has risen 28.17% since October 17, 2017 and is uptrending. It has outperformed by 12.55% the S&P500.

Abbott Laboratories manufactures and sells health care products worldwide. The company has market cap of $124.47 billion. The companyÂ’s Established Pharmaceutical Products segment offers branded generic pharmaceuticals to treat pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; anti-infective clarithromycin; cardiovascular and metabolic products; and influenza vaccines, as well as to regulate physiological rhythm of the colon. It has a 135.92 P/E ratio. The Company’s Diagnostic Products segment provides immunoassay and clinical chemistry systems; assays used to screen and/or diagnosis cancer, cardiac, drugs of abuse, fertility, infectious diseases, and therapeutic drug monitoring; hematology systems and reagents; diagnostic systems and cartridges; instruments to automate the extraction, purification, and preparation of DNA and RNA from patient samples, and detects and measures infectious agents; genomic tests; informatics and automation solutions; and a suite of informatics tools and professional services.

More notable recent Abbott Laboratories (NYSE:ABT) news were published by: Seekingalpha.com which released: “Premarket analyst action – healthcare” on October 16, 2018, also Benzinga.com with their article: “Abbott Laboratories Q3 Earnings Preview” published on October 16, 2018, Forbes.com published: “What To Watch For In Abbott Labs’ Q3 Earnings” on October 16, 2018. More interesting news about Abbott Laboratories (NYSE:ABT) were released by: Streetinsider.com and their article: “Abbott (ABT) Names Robert B. Ford President COO” published on October 15, 2018 as well as 247Wallst.com‘s news article titled: “Top Analyst Upgrades and Downgrades: Adobe, BofA, Boston Scientific, Facebook, Las Vegas Sands, Merck, Tilray …” with publication date: October 16, 2018.

Abbott Laboratories (NYSE:ABT) Institutional Positions Chart

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