Abbott Labs (ABT) Receives a Hold from BTIG

In a report released today, Marie Thibault from BTIG maintained a Hold rating on Abbott Labs (ABTResearch Report). The company’s shares closed last Friday at $110.55, close to its 52-week high of $115.14.

According to TipRanks.com, Thibault is a 5-star analyst with an average return of 83.1% and a 72.0% success rate. Thibault covers the Healthcare sector, focusing on stocks such as Establishment Labs Holdings, Varian Medical Systems, and Edwards Lifesciences.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Abbott Labs with a $120.57 average price target.

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Based on Abbott Labs’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $8.85 billion and net profit of $1.23 billion. In comparison, last year the company earned revenue of $8.08 billion and had a net profit of $960 million.

Based on the recent corporate insider activity of 241 insiders, corporate insider sentiment is neutral on the stock.

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Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, Cardiovascular and Neuromodulation Products, and Other. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products. The Nutritional Products segment caters to the worldwide sales of adult and pediatric nutritional products. The Diagnostic Products segment markets diagnostic systems and tests for blood banks, hospitals, commercial laboratories, and alternate-care testing sites. The Vascular Products segment trades coronary, endovascular, structural heart, vessel closure, and other medical device products. The Other segment comprises of Abbott Medical Optics. The company was founded by Wallace Calvin Abbott in 1888 and is headquartered in Abbott Park, IL.