Wells Fargo analyst Larry Biegelsen maintained a Buy rating on Abbott Labs (ABT) yesterday. The company’s shares closed yesterday at $85.76, close to its 52-week high of $86.75.
According to TipRanks.com, Biegelsen is a 5-star analyst with an average return of 16.4% and a 70.5% success rate. Biegelsen covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies Inc, Shockwave Medical Inc, and Baxter International.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Abbott Labs with a $88.33 average price target, which is a 3.0% upside from current levels. In a report issued on July 16, Morgan Stanley also maintained a Buy rating on the stock with a $93 price target.
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Based on Abbott Labs’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $7.98 billion and net profit of $1.01 billion. In comparison, last year the company earned revenue of $7.77 billion and had a net profit of $729 million.
Based on the recent corporate insider activity of 111 insiders, corporate insider sentiment is neutral on the stock.
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