Nuance Investments Lowers stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Nuance Investments reduced its stake in Abbott Laboratories by 19.82% during the most recent quarter end. The investment management company now holds a total of 301,393 shares of Abbott Laboratories which is valued at $13,547,615 after selling 74,492 shares in Abbott Laboratories , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Abbott Laboratories makes up approximately 1.40% of Nuance Investments’s portfolio.

Other Hedge Funds, Including , Cibc Asset Management Inc reduced its stake in ABT by selling 549 shares or 0.37% in the most recent quarter. The Hedge Fund company now holds 146,484 shares of ABT which is valued at $6,584,456. Abbott Laboratories makes up approx 0.05% of Cibc Asset Management Inc’s portfolio.Tufton Capital Management reduced its stake in ABT by selling 325 shares or 0.42% in the most recent quarter. The Hedge Fund company now holds 77,527 shares of ABT which is valued at $3,385,604. Abbott Laboratories makes up approx 0.67% of Tufton Capital Management’s portfolio.Rnc Capital Management boosted its stake in ABT in the latest quarter, The investment management firm added 125 additional shares and now holds a total of 9,170 shares of Abbott Laboratories which is valued at $400,454. Abbott Laboratories makes up approx 0.04% of Rnc Capital Management’s portfolio.Capital Investment Advisors reduced its stake in ABT by selling 421 shares or 5.31% in the most recent quarter. The Hedge Fund company now holds 7,501 shares of ABT which is valued at $323,818. Abbott Laboratories makes up approx 0.03% of Capital Investment Advisors’s portfolio.

Abbott Laboratories closed down -0.24 points or -0.53% at $45.02 with 76,57,947 shares getting traded on Monday. Post opening the session at $45.06, the shares hit an intraday low of $44.88 and an intraday high of $45.41 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Abbott Laboratories reported $0.55 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $0.53. The company had revenue of $5333.00 million for the quarter, compared to analysts expectations of $5244.94 million. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.

Many Wall Street Analysts have commented on Abbott Laboratories. Abbott Laboratories was Upgraded by Edward Jones to ” Buy” on Jun 21, 2016.

Abbott Laboratories (Abbott) is engaged in the discovery development manufacture and sale of a range of health care products. Abbott operates in four business segments: Established Pharmaceutical Products Diagnostic Products Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products. The Diagnostic Products segment includes the sales of a line of adult and pediatric nutritional products. The Nutritional Products includes the sales of diagnostic systems and tests for blood banks hospitals commercial laboratories and alternate-care testing sites. The Vascular Products includes the sales of coronary endovascular structural heart vessel closure and other medical device products.

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