Abbott Laboratories (ABT) Expected to Post Earnings of $0.73 Per Share
Analysts expect Abbott Laboratories (NYSE:ABT) to announce earnings per share (EPS) of $0.73 for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Abbott Laboratories’ earnings, with estimates ranging from $0.72 to $0.74. Abbott Laboratories posted earnings per share of $0.65 during the same quarter last year, which would indicate a positive year over year growth rate of 12.3%. The firm is expected to report its next quarterly earnings report on Wednesday, January 24th.
On average, analysts expect that Abbott Laboratories will report full year earnings of $2.50 per share for the current fiscal year, with EPS estimates ranging from $2.47 to $2.52. For the next fiscal year, analysts forecast that the firm will report earnings of $2.83 per share, with EPS estimates ranging from $2.80 to $2.85. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that cover Abbott Laboratories.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. The company had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. Abbott Laboratories’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same quarter last year, the business earned $0.59 EPS.
A number of brokerages have weighed in on ABT. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a report on Tuesday, October 31st. Barclays PLC reiterated an “overweight” rating on shares of Abbott Laboratories in a report on Thursday, October 19th. Citigroup Inc. reiterated a “neutral” rating on shares of Abbott Laboratories in a report on Thursday, October 19th. BMO Capital Markets reiterated a “market perform” rating on shares of Abbott Laboratories in a report on Thursday, October 19th. Finally, Cowen and Company set a $68.00 price target on shares of Abbott Laboratories and gave the company a “buy” rating in a report on Thursday, October 19th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Abbott Laboratories has a consensus rating of “Buy” and an average target price of $56.81.
Shares of Abbott Laboratories (NYSE ABT) traded down $0.65 on Friday, hitting $54.80. 5,033,100 shares of the company’s stock were exchanged, compared to its average volume of 5,552,319. The firm has a market cap of $95,384.93, a price-to-earnings ratio of 22.74, a PEG ratio of 2.05 and a beta of 1.06. Abbott Laboratories has a 52 week low of $37.38 and a 52 week high of $56.69. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Thursday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 83.47%.
In other news, insider Jaime Contreras sold 52,700 shares of the business’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $51.97, for a total value of $2,738,819.00. Following the completion of the sale, the insider now owns 58,739 shares of the company’s stock, valued at approximately $3,052,665.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen R. Fussell sold 196,550 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $49.50, for a total transaction of $9,729,225.00. Following the completion of the sale, the insider now directly owns 221,488 shares of the company’s stock, valued at approximately $10,963,656. The disclosure for this sale can be found here. Insiders have sold a total of 408,313 shares of company stock worth $21,205,356 in the last ninety days. 0.76% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ABT. Heritage Trust Co boosted its holdings in shares of Abbott Laboratories by 10.1% in the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after buying an additional 200 shares during the period. Tributary Capital Management LLC acquired a new position in shares of Abbott Laboratories in the 3rd quarter valued at about $106,000. Winfield Associates Inc. boosted its holdings in shares of Abbott Laboratories by 3.9% in the 2nd quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after buying an additional 89 shares during the period. Thompson Davis & CO. Inc. boosted its holdings in shares of Abbott Laboratories by 17.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after buying an additional 370 shares during the period. Finally, V Wealth Management LLC acquired a new position in shares of Abbott Laboratories in the 2nd quarter valued at about $127,000. 71.39% of the stock is owned by institutional investors.
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Abbott Laboratories Company Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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