Equities analysts expect Abbott Laboratories (NYSE:ABT) to announce $7.26 billion in sales for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Abbott Laboratories’ earnings. The lowest sales estimate is $7.20 billion and the highest is $7.32 billion. Abbott Laboratories posted sales of $6.34 billion in the same quarter last year, which would indicate a positive year over year growth rate of 14.5%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Wednesday, April 18th.
On average, analysts expect that Abbott Laboratories will report full-year sales of $7.26 billion for the current financial year, with estimates ranging from $30.64 billion to $31.16 billion. For the next financial year, analysts expect that the firm will report sales of $32.75 billion per share, with estimates ranging from $32.48 billion to $33.23 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for Abbott Laboratories.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.88%. The firm had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.38 billion. During the same period last year, the company posted $0.65 EPS. The company’s quarterly revenue was up 42.3% compared to the same quarter last year.
Several research firms have recently commented on ABT. Wells Fargo raised their target price on shares of Abbott Laboratories from $66.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. William Blair raised shares of Abbott Laboratories from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 25th. 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 research report on Tuesday, January 2nd. Finally, Barclays raised their target price on shares of Abbott Laboratories from $66.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $65.47.
In other Abbott Laboratories news, EVP Stephen R. Fussell sold 13,313 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $62.84, for a total transaction of $836,588.92. Following the completion of the sale, the executive vice president now directly owns 152,343 shares in the company, valued at approximately $9,573,234.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brian J. Blaser sold 27,733 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $62.26, for a total transaction of $1,726,656.58. Following the sale, the insider now owns 156,587 shares of the company’s stock, valued at $9,749,106.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 124,261 shares of company stock valued at $7,559,987. 0.74% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Rowland & Co. Investment Counsel ADV bought a new stake in shares of Abbott Laboratories in the fourth quarter worth approximately $102,000. Icon Wealth Partners LLC bought a new stake in shares of Abbott Laboratories in the fourth quarter worth approximately $102,000. SWS Partners bought a new stake in shares of Abbott Laboratories in the fourth quarter worth approximately $104,000. Tributary Capital Management LLC bought a new stake in shares of Abbott Laboratories in the third quarter worth approximately $106,000. Finally, Thompson Davis & CO. Inc. grew its stake in shares of Abbott Laboratories by 17.7% in the second quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock worth $120,000 after acquiring an additional 370 shares during the period. Institutional investors and hedge funds own 72.37% of the company’s stock.
Shares of NYSE:ABT traded down $2.29 on Friday, hitting $57.57. The company had a trading volume of 7,447,118 shares, compared to its average volume of 6,079,406. Abbott Laboratories has a 1 year low of $42.31 and a 1 year high of $64.60. The company has a current ratio of 2.26, a quick ratio of 1.86 and a debt-to-equity ratio of 0.87. The stock has a market cap of $100,536.45, a price-to-earnings ratio of 23.03, a P/E/G ratio of 1.71 and a beta of 1.50.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be paid a $0.28 dividend. The ex-dividend date is Thursday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 1.95%. Abbott Laboratories’s payout ratio is 44.80%.
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Abbott Laboratories Company Profile
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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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