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Investing.com - TD Cowen has reiterated its Buy rating and $145.00 price target on Abbott Labs (NYSE:ABT), a $229 billion healthcare giant, ahead of its second-quarter earnings report due in 6 days. The company’s stock is currently trading near its 52-week high of $141.23, supported by a strong "GREAT" financial health score according to InvestingPro.
The research firm expects Abbott to meet or exceed Wall Street’s targets for the second quarter, keeping the company on track to achieve its 2025 guidance targets. With a P/E ratio of 17.02 and revenue growth of 5%, Abbott has demonstrated solid operational performance. The company has also maintained dividend payments for 55 consecutive years, showcasing its financial stability.
TD Cowen noted that Abbott’s full-year guidance now faces improved conditions compared to April, with recent easing of US-China tariffs (down from 145%) and a shift in foreign exchange impact from negative 1% to neutral.
The firm highlighted Abbott’s strong operating momentum and several new growth drivers, specifically mentioning TriClip in the US market and Volt in Europe.
These factors collectively contribute to TD Cowen’s optimistic outlook on Abbott Labs’ performance and its maintained Buy rating on the stock.
In other recent news, Abbott Laboratories announced its quarterly dividend of 59 cents per share, marking its 406th consecutive dividend payout since 1924. This continues Abbott’s long-standing tradition of increasing its dividend payout for 53 consecutive years, solidifying its position in the S&P 500 Dividend Aristocrats Index. Additionally, Abbott received FDA approval for its Tendyne transcatheter mitral valve replacement system, aimed at treating patients with severe mitral annular calcification who are high-risk for traditional surgery. This approval enhances Abbott’s minimally invasive structural heart therapy portfolio in the U.S.
On the earnings front, Oppenheimer reiterated its Outperform rating for Abbott, maintaining a $140 price target, citing optimism about the company’s Volt system and glucose-ketone monitoring technology. Piper Sandler also highlighted growth opportunities for Abbott in the continuous glucose monitoring market, naming it a favorite large-cap name in the sector. Furthermore, Abbott’s transcatheter edge-to-edge repair for the tricuspid valve received support following a CMS decision, with Oppenheimer maintaining an Outperform rating and a $14 price target. These developments reflect Abbott’s strategic advancements and ongoing commitment to innovation in healthcare technology.
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