Abbott raises profit forecast on strong medical device sales
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UBS Reiterates Buy Rating on Abbott Labs (ABT)
July 19, 2024 6:17 AM EDTUBS analyst Danielle Antalffy reiterated a Buy rating and $143.00 price target on Abbott Labs (NYSE: ABT)
The analyst comments "ABT shares closed down today despite what we view as another quarter of broad-based strength that should have been rewarded by investors, but likely... More
Evercore ISI Reiterates Outperform Rating on Abbott Labs (ABT), PT $120
July 18, 2024 8:59 AM EDTEvercore ISI analyst Vijay Kumar reiterated an Outperform rating and $120.00 price target on Abbott Labs (NYSE: ABT).
The analyst comments "ABT reported base organic revenue growth rate of ~9.3% excl. COVID, with overall revenues coming inline with ST. Fx came in ~50 bps worse than Guide, ex which total revs would have Beat slightly. This was a clean print and there were no China VBP call outs, distributor stocking dynamics or China anti-corruption impact in the Q (notable given JNJ called these out yesterday). The organic revenue growth... More
TD Cowen Reiterates Buy Rating on Abbott Labs (ABT), PT $130
July 18, 2024 8:53 AM EDTTD Cowen analyst Joshua Jennings reiterated a Buy rating and $130.00 price target on Abbott Labs (NYSE: ABT).
The analyst comments "Second-quarter revenue and EPS of $10.38B and $1.14 beat the Street's $10.37B and $1.11 forecasts. Organic sales growth for the base business, excluding Covid test sales,... More
Stifel Reiterates Buy Rating on Abbott Labs (ABT)
July 18, 2024 8:50 AM EDTStifel analyst Rick Wise reiterated a Buy rating and $115.00 price target on Abbott Labs (NYSE: ABT).
The analyst comments "Delivering the sixth quarter in a row of double-digit Medical Device division (43% of 2Q sales) growth, Abbotts 2Q solid performance met expectations. As a whole, we view the companys Medical Device growth and 2H24 positive momentum commentary as a... More
Citi Reiterates Buy Rating on Abbott Labs (ABT)
July 18, 2024 8:49 AM EDTCiti analyst Joanna Wuensch reiterated a Buy rating and $119.00 price target on Abbott Labs (NYSE: ABT).
The analyst comments "Abbott delivered 2Q24 revenue of $10.38B (up 4.0% reported; up 9.3% organic ex-Covid-19), roughly in-line with consensuss $10.37B, including: Nutrition of $2.15B (up 7.5%, versus $2.16B); Diagnostics of $2.20B... More
