Abbott Laboratories (ABT) Issues Q2 2019 Earnings Guidance
Abbott Laboratories (NYSE:ABT) issued an update on its second quarter 2019 earnings guidance on Wednesday morning. The company provided EPS guidance of $0.79-0.81 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.80. Abbott Laboratories also updated its FY 2019 guidance to $3.15-3.25 EPS.
Shares of ABT opened at $72.88 on Thursday. The stock has a market cap of $128.01 billion, a price-to-earnings ratio of 25.31, a P/E/G ratio of 2.08 and a beta of 1.13. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.20 and a current ratio of 1.62. Abbott Laboratories has a fifty-two week low of $56.81 and a fifty-two week high of $80.74.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. The company had revenue of $7.54 billion for the quarter, compared to the consensus estimate of $7.49 billion. Abbott Laboratories had a return on equity of 16.55% and a net margin of 7.74%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned $0.59 EPS. On average, analysts expect that Abbott Laboratories will post 3.2 EPS for the current year.
Several equities research analysts have weighed in on ABT shares. Bank of America reaffirmed a buy rating and set a $81.00 price target (up from $73.00) on shares of Abbott Laboratories in a research report on Thursday, February 7th. Zacks Investment Research raised Abbott Laboratories from a hold rating to a buy rating and set a $80.00 price target on the stock in a research report on Monday, January 28th. Gabelli reaffirmed a buy rating on shares of Abbott Laboratories in a research report on Wednesday, January 2nd. Royal Bank of Canada increased their price target on Abbott Laboratories to $82.00 and gave the stock a buy rating in a research report on Monday. They noted that the move was a valuation call. Finally, Wells Fargo & Co reaffirmed a buy rating on shares of Abbott Laboratories in a research report on Thursday, March 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company. The company has an average rating of Buy and an average price target of $80.48.
In other news, insider Joseph J. Manning sold 5,613 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $79.58, for a total transaction of $446,682.54. Following the sale, the insider now directly owns 56,029 shares in the company, valued at approximately $4,458,787.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Miles D. White sold 75,739 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $78.61, for a total value of $5,953,842.79. Following the sale, the chairman now owns 3,469,165 shares in the company, valued at $272,711,060.65. The disclosure for this sale can be found here. Insiders have sold a total of 280,021 shares of company stock worth $20,485,856 over the last 90 days. Insiders own 0.70% of the company’s stock.
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About Abbott Laboratories
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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