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Lisa Earnhardt, the Executive Vice President and Group President at Abbott Laboratories (NYSE:ABT), a healthcare giant with a market capitalization of $237.9 billion and an "GREAT" InvestingPro Financial Health score, recently executed significant stock transactions, as detailed in a recent SEC filing. On March 6 and 7, Earnhardt sold a total of 91,367 shares of Abbott Laboratories’ common stock, generating proceeds of approximately $12.2 million. The shares were sold at prices ranging from $133.82 to $136.645 per share, near the stock’s 52-week high of $141.23. The company’s shares have shown strong momentum, delivering a 21.88% return year-to-date.
In addition to these sales, Earnhardt also acquired shares through option exercises on the same dates. She exercised options to acquire 91,367 shares at a price of $80.98 per share on March 6 and an additional 200 shares on March 7. These transactions were part of a larger employee stock option plan under the Abbott Laboratories 2017 Incentive Stock Program.
Following these transactions, Earnhardt’s direct ownership of Abbott Laboratories stock stands at 71,928 shares.
In other recent news, Abbott Laboratories has been the focus of several significant developments. Barclays (LON:BARC) analyst Matt Miksic raised the price target for Abbott Labs to $158, maintaining an Overweight rating. This adjustment follows Abbott’s updated financial outlook, which anticipates a 10% earnings per share growth by 2025, despite facing foreign exchange and tax rate challenges. Concurrently, Bernstein analysts increased their price target for Abbott to $138, highlighting strong performance in the Medical (TASE:BLWV) Devices segment, including a 14% organic growth. UBS analyst Danielle Antalffy also raised Abbott’s price target to $148, citing the company’s core business strength and margin expansion as key factors.
Additionally, Abbott has entered into a collaboration with Cadrenal Therapeutics to conduct a clinical trial for the drug tecarfarin, aimed at improving treatment for patients with left ventricular assist devices. This partnership is expected to leverage Abbott’s expertise in trial design and patient enrollment. The collaboration aligns with Cadrenal’s strategy to address unmet needs in cardiovascular care.
Furthermore, Abbott was among the defensive stocks that registered gains as tech stocks faced concerns over the impact of China’s DeepSeek on the sector. The shift towards defensive stocks underscores a broader market reassessment of emerging technologies’ impact on established players. These recent developments reflect Abbott’s strategic moves and its continued focus on financial and operational growth.
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