Abbott Laboratories (NYSE:ABT) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 13,229,656 shares, a growth of 36.6% from the January 12th total of 9,685,399 shares. Based on an average daily volume of 8,362,357 shares, the days-to-cover ratio is currently 1.6 days. Approximately 0.8% of the shares of the stock are sold short.
Abbott Laboratories (NYSE ABT) traded up $0.64 during trading on Wednesday, reaching $58.28. 3,607,440 shares of the company traded hands, compared to its average volume of 7,821,996. Abbott Laboratories has a 12-month low of $42.31 and a 12-month high of $64.60. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26. The firm has a market cap of $101,010.00, a P/E ratio of 291.10, a PEG ratio of 1.72 and a beta of 1.55.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.80%. The firm had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.38 billion. During the same quarter last year, the firm earned $0.65 EPS. The firm’s revenue for the quarter was up 42.3% on a year-over-year basis. research analysts predict that Abbott Laboratories will post 2.86 earnings per share for the current year.
In other Abbott Laboratories news, insider Alejandro D. Wellisch sold 2,153 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $55.86, for a total value of $120,266.58. Following the transaction, the insider now directly owns 10,256 shares of the company’s stock, valued at approximately $572,900.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stephen R. Fussell sold 13,313 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $62.84, for a total transaction of $836,588.92. Following the completion of the transaction, the executive vice president now directly owns 152,343 shares in the company, valued at $9,573,234.12. The disclosure for this sale can be found here. Insiders sold a total of 374,458 shares of company stock worth $20,752,706 over the last three months. Corporate insiders own 0.76% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Two Sigma Investments LP grew its stake in shares of Abbott Laboratories by 27.9% in the fourth quarter. Two Sigma Investments LP now owns 63,956 shares of the healthcare product maker’s stock worth $3,650,000 after acquiring an additional 13,966 shares in the last quarter. HealthCor Management L.P. acquired a new position in shares of Abbott Laboratories in the fourth quarter worth $13,979,000. Two Sigma Advisers LP acquired a new position in shares of Abbott Laboratories in the fourth quarter worth $7,872,000. Avestar Capital LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter worth $293,000. Finally, Premia Global Advisors LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter worth $348,000. Hedge funds and other institutional investors own 70.61% of the company’s stock.
A number of research analysts have weighed in on the stock. BMO Capital Markets reissued a “market perform” rating on shares of Abbott Laboratories in a research note on Thursday, October 19th. Wells Fargo & Co lifted their price target on shares of Abbott Laboratories from $66.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Leerink Swann reaffirmed a “market perform” rating on shares of Abbott Laboratories in a research report on Friday, January 19th. Bank of America lifted their price target on shares of Abbott Laboratories from $60.00 to $70.00 in a research report on Wednesday, January 24th. They noted that the move was a valuation call. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $67.00 price target on shares of Abbott Laboratories in a research report on Thursday, January 25th. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $65.47.
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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.
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