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Louis H. Morrone, Executive Vice President at Abbott Laboratories (NYSE:ABT), recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. On March 3, Morrone sold 1,111 shares of Abbott Laboratories at a price of $138.17 per share, totaling $153,506. The transaction occurred as the stock trades near its 52-week high of $141.23, with Abbott showing strong momentum, up nearly 23% over the past six months. Following this sale, Morrone holds 66,878 shares directly in the $243 billion healthcare giant.InvestingPro analysis indicates the stock is currently trading above its Fair Value, with 14+ additional exclusive insights available to subscribers.
Earlier, on February 28, Morrone disposed of 4,386 shares at $135.87 each as part of an automatic tax withholding transaction, amounting to $595,925. This transaction did not involve a market sale but was instead related to tax obligations.
In addition to his direct holdings, Morrone also retains a small indirect interest in the company, with 12 shares held in the Abbott Laboratories Stock Retirement Trust as of February 28, 2025.
In other recent news, Cadrenal Therapeutics has partnered with Abbott to conduct a pivotal clinical trial for their drug tecarfarin, aimed at improving treatment for patients with left ventricular assist devices. This collaboration will utilize Abbott’s expertise from HeartMate 3 LVAD trials to enhance trial design and patient enrollment. Meanwhile, Barclays (LON:BARC) has raised its price target for Abbott Labs to $158, maintaining an Overweight rating due to updated financial outlooks and revised earnings estimates. Despite foreign exchange and tax rate challenges, Abbott has increased its gross margin expectations and set a 2025 earnings per share growth guidance of 10% at the midpoint.
Bernstein also raised Abbott Labs’ target to $138, highlighting strong performance in the Medical (TASE:BLWV) Devices segment with a notable 14% organic growth. Abbott’s overall organic growth was reported at 10.1%, supported by the Electrophysiology sector’s strength in mapping technologies. UBS has increased its price target for Abbott Labs to $148, reiterating a Buy rating and noting the company’s strong core business and margin expansion. Abbott’s financial guidance for fiscal year 2025 includes organic sales growth of 7.5% to 8.5% and an adjusted operating margin between 23.5% and 24.0%.
These developments reflect a positive outlook from several analyst firms, emphasizing Abbott’s continued growth and strategic collaborations.
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