Leerink Swann Comments on Abbott Laboratories’ Q4 2018 Earnings (ABT)
Abbott Laboratories (NYSE:ABT) – Research analysts at Leerink Swann upped their Q4 2018 earnings per share estimates for shares of Abbott Laboratories in a research note issued on Wednesday. Leerink Swann analyst D. Antalffy now forecasts that the healthcare product maker will earn $0.82 per share for the quarter, up from their previous estimate of $0.81. Leerink Swann currently has a “Market Perform” rating and a $68.00 target price on the stock. Leerink Swann also issued estimates for Abbott Laboratories’ Q1 2019 earnings at $0.64 EPS and FY2021 earnings at $3.96 EPS.
A number of other brokerages also recently commented on ABT. ValuEngine downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. BTIG Research downgraded shares of Abbott Laboratories from a “buy” rating to a “neutral” rating in a research report on Monday, January 22nd. They noted that the move was a valuation call. Barclays reaffirmed a “buy” rating and set a $66.00 price objective on shares of Abbott Laboratories in a research report on Monday, January 8th. Morgan Stanley boosted their price objective on shares of Abbott Laboratories from $67.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. Finally, JPMorgan Chase & Co. raised shares of Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 price objective on the stock in a research report on Tuesday, January 2nd. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Abbott Laboratories has an average rating of “Buy” and an average price target of $65.47.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. The business had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.38 billion. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.88%. The firm’s quarterly revenue was up 42.3% compared to the same quarter last year. During the same period last year, the firm posted $0.65 earnings per share.
Institutional investors have recently modified their holdings of the company. Rowland & Co. Investment Counsel ADV bought a new position in Abbott Laboratories during the fourth quarter worth $102,000. Icon Wealth Partners LLC bought a new position in Abbott Laboratories during the fourth quarter worth $102,000. SWS Partners bought a new position in Abbott Laboratories during the fourth quarter worth $104,000. Heritage Trust Co increased its position in Abbott Laboratories by 10.1% during the second quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after acquiring an additional 200 shares during the period. Finally, Tributary Capital Management LLC bought a new position in Abbott Laboratories during the third quarter worth $106,000. Institutional investors and hedge funds own 72.35% of the company’s stock.
In other news, insider Jared Watkin sold 3,000 shares of the business’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $61.19, for a total value of $183,570.00. Following the completion of the sale, the insider now directly owns 68,215 shares in the company, valued at $4,174,075.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Roger Bird sold 8,262 shares of the business’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $62.75, for a total transaction of $518,440.50. Following the completion of the sale, the insider now owns 58,574 shares of the company’s stock, valued at $3,675,518.50. The disclosure for this sale can be found here. Insiders sold 124,261 shares of company stock valued at $7,559,987 over the last quarter. Corporate insiders own 0.76% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Thursday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 430.79%.
About Abbott Laboratories
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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