Abbott Laboratories (NYSE:ABT) Given “Outperform” Rating at Royal Bank of Canada

Abbott Laboratories (NYSE:ABT)‘s stock had its “outperform” rating reissued by equities researchers at Royal Bank of Canada in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $135.00 price target on the healthcare product maker’s stock. Royal Bank of Canada’s price target points to a potential upside of 16.42% from the company’s previous close.

ABT has been the subject of several other reports. UBS Group increased their price target on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Evercore ISI raised their price objective on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Piper Sandler raised their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Barclays raised their price objective on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Oppenheimer assumed coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $131.93.

Abbott Laboratories Trading Up 2.2 %

NYSE ABT traded up $2.48 on Tuesday, reaching $115.96. The company had a trading volume of 2,740,061 shares, compared to its average volume of 4,867,844. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The stock’s 50 day moving average is $114.87 and its 200-day moving average is $112.95. The stock has a market cap of $201.12 billion, a price-to-earnings ratio of 35.26, a PEG ratio of 2.43 and a beta of 0.73. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Groupama Asset Managment lifted its stake in shares of Abbott Laboratories by 22.2% in the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 41,557 shares during the period. Future Financial Wealth Managment LLC bought a new stake in Abbott Laboratories in the 3rd quarter valued at about $31,000. Peterson Financial Group Inc. bought a new stake in Abbott Laboratories in the 3rd quarter valued at about $32,000. Valued Wealth Advisors LLC increased its position in Abbott Laboratories by 78.4% in the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after buying an additional 127 shares in the last quarter. Finally, Highline Wealth Partners LLC bought a new stake in Abbott Laboratories in the 3rd quarter valued at about $37,000. 75.18% of the stock is owned by institutional investors and hedge funds.

About Abbott Laboratories

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.