Jefferies Believes ABT Won’t Stop Here

By Carrie Williams

Jefferies analyst Jeffrey Holford reiterated a Buy rating on Abbott Labs (NYSE: ABT) on March 9 and set a price target of $52. The company’s shares closed yesterday at $45.53, close to its 52-week high of $45.84.

According to, Holford is a 5-star analyst with an average return of 8.0% and a 74.4% success rate. Holford covers the Healthcare sector, focusing on stocks such as Parnell Pharmaceuticals, Johnson & Johnson, and Sanofi-Aventis Sa.

Currently, the analyst consensus on Abbott Labs is Strong Buy and the average price target is $49, representing a 7.6% upside.

In a report issued on March 1, RBC Capital also reiterated a Buy rating on the stock with a $50 price target.

Based on Abbott Labs’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $5.33 billion and quarterly net profit of $798 million. In comparison, last year the company earned revenue of $5.19 billion and had a net profit of $765 million.

Based on the recent corporate insider activity of 98 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ABT in relation to earlier this year. Last month, Heather Mason, the EVP of ABT sold 35,700 shares for a total of $1,455,489.

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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, 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.