BTIG Resumes Coverage with a Buy Rating on Abbott Labs

By Carrie Williams

In a report released today, Dane Leone from BTIG resumed coverage with a Buy rating on Abbott Labs (NYSE: ABT) and a price target of $56. The company’s shares closed yesterday at $48.77, close to its 52-week high of $49.30.

According to TipRanks.com, Leone is a 5-star analyst with an average return of 17.5% and a 73.2% success rate. Leone covers the Healthcare sector, focusing on stocks such as Corvus Pharmaceuticals Inc, Trillium Therapeutics, and Ocular Therapeutix.

Currently, the analyst consensus on Abbott Labs is Moderate Buy and the average price target is $49.57, representing a 1.6% upside.

In a report issued on June 16, Jefferies also reiterated a Buy rating on the stock with a $55 price target.

The company has a one year high of $49.30 and a one year low of $36.76. Currently, Abbott Labs has an average volume of 6.57M.

Based on the recent corporate insider activity of 103 insiders, corporate insider sentiment is neutral on the stock. Most recently, in April 2017, Roger Bird, the SVP of ABT sold 5,600 shares for a total of $245,392.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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, and Vascular Products. 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 company was founded by Wallace Calvin Abbott in 1888 and is headquartered in Abbott Park, IL.