Abbott Labs (ABT) Receives a Rating Update from a Top Analyst

By Jason Carr

In a report released today, Jayson Bedford from Raymond James maintained a Buy rating on Abbott Labs (ABTResearch Report), with a price target of $90.00. The company’s shares closed last Monday at $79.63.

According to TipRanks.com, Bedford is a top 100 analyst with an average return of 15.1% and a 68.6% success rate. Bedford covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Merit Medical Systems, and Edwards Lifesciences.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Abbott Labs with a $93.71 average 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 billion. In comparison, last year the company earned revenue of $7.66 billion and had a net profit of $559 million.

Based on the recent corporate insider activity of 130 insiders, corporate insider sentiment is neutral on the stock.

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