Abbott Laboratories (NYSE:ABT) Rating Reiterated
In analysts note released on today, Morgan Stanley reconfirmed their Equal-Weight rating on Abbott Laboratories (NYSE:ABT)’s stock. The target price gives a potential downside of -89.27 % from company’s current stock price.
NYSE:ABT is currently trading 1.27% higher at $55.77 as of 8:01 AM New York time. Abbott Laboratories’s stock is 0% in the past 200 days. It has underperformed the S&P500, which has added 6.00% in 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.
Arrow Capital Management Llc had the biggest stake with ownership of 264,455 shares as of q2 2015 for 14.26% of the equity exposure. Flossbach Von Storch Ag is another very bullish active investment manager who is owning 14.30M shares of Abbott Laboratories or 10.09% of their equity exposure. Also, Mondrian Investment Partners Ltd have 7.25% of their equity exposure invested in the company for 7.00M shares. The Delaware-based fund Brandywine Trust Co disclosed it had bought so far a stake worth about 6.96% of the active 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 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 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.
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The post Morgan Stanley Analyst Reaffirmed $6.00 Price Target on Abbott Laboratories (NYSE:ABT) stock, While Reiterating Equal-Weight Rating appeared first on Octafinance.