Equities research analysts predict that Abbott Laboratories (NYSE:ABT) will report earnings of $0.58 per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Abbott Laboratories’ earnings. The lowest EPS estimate is $0.57 and the highest is $0.59. Abbott Laboratories reported earnings of $0.48 per share in the same quarter last year, which would indicate a positive year over year growth rate of 20.8%. The firm is expected to issue its next quarterly earnings results on Wednesday, April 18th.
On average, analysts expect that Abbott Laboratories will report full-year earnings of $2.86 per share for the current year, with EPS estimates ranging from $2.85 to $2.89. For the next year, analysts anticipate that the business will post earnings of $3.21 per share, with EPS estimates ranging from $3.15 to $3.27. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Abbott Laboratories.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. The business had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.38 billion. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.88%. The business’s quarterly revenue was up 42.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.65 EPS.
Several equities analysts have recently weighed in on ABT shares. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Monday, October 30th. ValuEngine raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, November 22nd. BMO Capital Markets raised shares of Abbott Laboratories from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $58.00 to $65.00 in a report on Tuesday, December 12th. Morgan Stanley raised shares of Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 target price for the company in a report on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. raised shares of Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 target price for the company in a report on Tuesday, January 2nd. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $65.47.
Abbott Laboratories (ABT) traded up $0.72 during trading hours on Friday, hitting $59.71. 5,188,427 shares of the stock traded hands, compared to its average volume of 7,740,000. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.26 and a current ratio of 2.26. The stock has a market cap of $103,930.00, a price-to-earnings ratio of 57.41, a price-to-earnings-growth ratio of 1.77 and a beta of 1.55. Abbott Laboratories has a 52-week low of $42.31 and a 52-week high of $64.60.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, April 12th. Abbott Laboratories’s payout ratio is presently 107.69%.
In related news, Chairman Miles D. White sold 276,886 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $54.41, for a total value of $15,065,367.26. Following the completion of the sale, the chairman now owns 3,677,913 shares of the company’s stock, valued at approximately $200,115,246.33. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Brian J. Blaser sold 27,733 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $62.26, for a total transaction of $1,726,656.58. Following the completion of the sale, the insider now directly owns 156,587 shares of the company’s stock, valued at approximately $9,749,106.62. The disclosure for this sale can be found here. In the last three months, insiders sold 405,137 shares of company stock valued at $22,686,356. 0.76% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Beach Investment Management LLC. boosted its position in shares of Abbott Laboratories by 2,161.4% during the 2nd quarter. Beach Investment Management LLC. now owns 302,577 shares of the healthcare product maker’s stock valued at $14,708,000 after acquiring an additional 289,197 shares during the last quarter. UMB Bank N A MO boosted its position in shares of Abbott Laboratories by 1.1% during the 2nd quarter. UMB Bank N A MO now owns 103,022 shares of the healthcare product maker’s stock valued at $5,008,000 after acquiring an additional 1,157 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Abbott Laboratories by 17.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 123,135 shares of the healthcare product maker’s stock valued at $5,986,000 after acquiring an additional 18,379 shares during the last quarter. Pinnacle Financial Partners Inc. boosted its position in shares of Abbott Laboratories by 170.3% during the 2nd quarter. Pinnacle Financial Partners Inc. now owns 48,373 shares of the healthcare product maker’s stock valued at $2,351,000 after acquiring an additional 30,475 shares during the last quarter. Finally, Ridgewood Investments LLC boosted its position in shares of Abbott Laboratories by 6.3% during the 2nd quarter. Ridgewood Investments LLC now owns 8,695 shares of the healthcare product maker’s stock valued at $423,000 after acquiring an additional 513 shares during the last quarter. 70.01% of the stock is owned by institutional investors and hedge funds.
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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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