A Director at Abbott Labs (NYSE: ABT) is Buying Shares

By Carrie Williams

Today, a Director at Abbott Labs (NYSE: ABT), Sally Blount, bought shares of ABT for $200.1K.

Following this transaction Sally Blount’s holding in the company was increased by 33.9% to a total of $439.1K. Following Sally Blount’s last ABT Buy transaction on May 03, 2016, the stock climbed by 1.0%.

Based on Abbott Labs’ latest earnings report from June 30, the company posted quarterly revenue of $5.33B and quarterly net profit of $615M. In comparison, last year the company earned revenue of $5.15B and had a net profit of $580M. The company has a one year high of $46.38 and a one year low of $36. ABT’s market cap is $57.4B and the company has a P/E ratio of 43.13.

26 different firms, including Argus Research and Barclays, currently also have a Buy rating on the stock. Based on 9 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $47.06, reflecting a -17.8% downside.

The insider sentiment on Abbott Labs has been neutral according to 76 insider trades in the past three months. This sentiment is slightly lower than the average sentiment of company insiders in this sector.

Abbott Laboratories engages in the discovery, development, manufacture and sale of a broad and diversified line of health care products. It operates through four reportable segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Vascular Products. The Established Pharmaceutical Products segment includes branded generic pharmaceuticals manufactured, marketed and sold outside the United States and are generally sold directly to wholesalers, distributors, government agencies, health care facilities, specialty pharmacies, and independent retailers from its owned distribution centers and public warehouses, depending on the market served. The Diagnostic Products segment covers diagnostic systems and tests manufactured, marketed, and sold worldwide to blood banks, hospitals, commercial laboratories, clinics, physicians’ offices, government agencies, alternate-care testing sites, and plasma protein therapeutic companies. The segment’s products are generally marketed and sold directly from Abbott-owned distribution centers, public warehouses and third-party distributors. The Nutritional Products segment includes pediatric and adult nutritional products manufactured, marketed, and sold worldwide. Its products are generally marketed and sold directly to customers and to institutions, wholesalers, retailers, health care facilities, government agencies, and third-party distributors from owned distribution centers or third-party distributors. The Vascular Products segment includes coronary, endovascular, vessel closure, and structural heart devices for the treatment of vascular disease manufactured, marketed and sold worldwide. The segment’s products are generally marketed and sold directly to hospitals from Abbott-owned distribution centers and public warehouses. The company was founded by Wallace Calvin Abbott in 1888 and is headquartered in Abbott Park, IL.