In a report released yesterday, Larry Biegelsen from Wells Fargo maintained a Buy rating on Abbott Labs (ABT). The company’s shares closed last Thursday at $110.04, close to its 52-week high of $115.14.
According to TipRanks.com, Biegelsen is a 5-star analyst with an average return of 22.0% and a 70.8% success rate. Biegelsen covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Inspire Medical Systems, and Merit Medical Systems.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Abbott Labs with a $120.57 average price target, an 8.4% upside from current levels. In a report issued on January 8, Jefferies also maintained a Buy rating on the stock with a $130.00 price target.
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The company has a one-year high of $115.14 and a one-year low of $61.61. Currently, Abbott Labs has an average volume of 4.84M.
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.
