Abbott Laboratories (NYSE:ABT) Rating Kept
In an analyst report made public on today, Argus maintained their “Buy” rating on Abbott Laboratories (NYSE:ABT)’s stock. The TP gives a potential downside of -88.14 % from company’s close price.
Out of 15 analysts covering Abbott Laboratories, 14 rate it a Buy, 6 indicate a Hold while 0 suggest a Sell. The highest target is $49 and the lowest is $44 according to Thomson/First Call. The 12-month mean target is $46.73, which means downside potential of 7.99% over the current price.
Arrow Capital Management Llc had the biggest stake with ownership of 264,455 shares as of Q2 2015 for 14.26% of the US long equity exposure. Flossbach Von Storch Ag is another bull as the fund who is owning 14.30M shares of Abbott Laboratories or 10.09% of their US long equity exposure. Furthermore, Mondrian Investment Partners Ltd have 7.25% of their US long equity exposure invested in the company for 7.00M shares. The Delaware-based fund Brandywine Trust Co revealed it had purchased a stake worth about 6.96% of the fund’s stock portfolio in Abbott Laboratories. The Norway-based fund Sector Gamma As is also positive about the stock, possessing 224,855 shares or 6.52% of their US long equity exposure.
Abbott Laboratories (NYSE:ABT) Profile
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.
Abbott Laboratories (NYSE:ABT) traded down -0.12% on 21 July, hitting $50.79. A total of 6.26 million shares of the company’s stock traded hands. This is down from average of 6.50 million shares. Abbott Laboratories has a 52 week low of $37.38 and a 52 week high of $51.13. The company has a market cap of $90.67 billion and a P/E ratio of 56.39.
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The post Abbott Laboratories (NYSE:ABT) Stock Rating Reaffirmed at Argus; The $6.00 Target Indicates -88.14 % Potential appeared first on Octafinance.