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Citigroup Keeps a Neutral Rating on Abbott Laboratories (NYSE:ABT) and $5.00 Target

Citigroup Analyst Rating Change Abbott Laboratories NYSE:ABT

Abbott Laboratories (NYSE:ABT) Rating Reiterated

In a research report issued on Thursday morning, Abbott Laboratories (NYSE:ABT) stock Neutral was maintained at Citigroup. They currently have a $5.00 price target on the stock. Citigroup’s price target indicates a potential downside of -91.06 % from the company’s close price.

NYSE:ABT is right now trading 1.27% higher at $55.77 as of 8:01 AM New York time. Abbott Laboratories’s stock is 0% over the past 200 days. It has underperformed the S&P500, which has added 6.00% over the same time.

According to data compiled by Thomson Reuters, Abbott Laboratories (NYSE:ABT)’s stock is covered by 15 equity analysts across the Street, with 0 analysts giving it a Sell rating, 14 a Buy rating, while 6 consider it a Hold. The 12-month consensus target price for the stock is $46.73, which reflects an downside potential of 16.21% over the current price.

Institutional Ownership

Arrow Capital Management Llc had the largest stake with ownership of 264,455 shares as of Q2 2015 for 14.26% of the US equity exposure. Flossbach Von Storch Ag is another very bullish investment manager who is having 14.30 million shares of Abbott Laboratories or 10.09% of their US equity exposure. Furthermore, Mondrian Investment Partners Ltd have 7.25% of their US equity exposure invested in the company for 7.00 million shares. The Delaware-based fund Brandywine Trust Co revealed it had bought a stake worth about 6.96% of the investment manager’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 equity exposure.

Abbott Laboratories (NYSE:ABT) Profile

Abbott LaboratoriesAbbott 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 up 1.27% on 19 October, hitting $55.77. A total of shares of the company’s stock traded hands. This is down from average of 5.97 million shares. Abbott Laboratories has a 52 week low of $37.38 and a 52 week high of $56.6. The company has a market cap of $96.90 billion and a P/E ratio of 85.63.

Get the latest Abbott Laboratories (NYSE:ABT) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

The post Citigroup Keeps a Neutral Rating on Abbott Laboratories (NYSE:ABT) and $5.00 Target appeared first on Octafinance.

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Citigroup Keeps a Neutral Rating on Abbott Laboratories (NYSE:ABT) and $5.00 Target


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