In a report released on January 25, Shagun Singh Chadha from RBC Capital maintained a Buy rating on Abbott Labs (ABT – Research Report), with a price target of $127.00. The company’s shares closed yesterday at $109.95.
Singh Chadha covers the Healthcare sector, focusing on stocks such as Abbott Labs, Penumbra, and Edwards Lifesciences. According to TipRanks, Singh Chadha has an average return of 0.0% and a 47.50% success rate on recommended stocks.
In addition to RBC Capital, Abbott Labs also received a Buy from Barclays’s Matt Miksic in a report issued yesterday. However, on January 26, Mizuho Securities assigned a Hold rating to Abbott Labs (NYSE: ABT).
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Based on Abbott Labs’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $10.09 billion and a net profit of $1.03 billion. In comparison, last year the company earned a revenue of $11.47 billion and had a net profit of $1.99 billion
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Abbott Laboratories offers a diversified line of healthcare products. It operates through four reportable segments: Established Pharmaceutical Products International (includes international sales of branded generic pharmaceutical products), Nutritional Products Diagnostic Products and Medical Devices. The company was founded by Wallace Calvin Abbott in 1888 and is headquartered in Abbott Park, IL.
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