Analysts expect that Abbott Laboratories (NYSE:ABT) will announce earnings of $0.58 per share for the current fiscal quarter, Zacks 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 per share of $0.48 during the same quarter last year, which suggests a positive year over year growth rate of 20.8%. The company is expected to issue its next earnings results on Wednesday, April 18th.
According to Zacks, analysts expect that Abbott Laboratories will report full year earnings of $2.86 per share for the current fiscal year, with EPS estimates ranging from $2.85 to $2.89. For the next fiscal year, analysts forecast that the company will report earnings of $3.21 per share, with EPS estimates ranging from $3.15 to $3.27. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Abbott Laboratories.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. The business had revenue of $7.59 billion for 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 firm’s revenue for the quarter was up 42.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 earnings per share.
Several research firms recently weighed in on ABT. Argus lifted their price target on shares of Abbott Laboratories from $66.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. They noted that the move was a valuation call. Citigroup boosted their target price on shares of Abbott Laboratories from $59.00 to $64.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Barclays boosted their target price on shares of Abbott Laboratories from $66.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Guggenheim restated a “buy” rating and set a $72.00 target price on shares of Abbott Laboratories in a report on Thursday, January 25th. Finally, Royal Bank of Canada restated a “buy” rating and set a $67.00 target price on shares of Abbott Laboratories in a report on Thursday, January 25th. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $65.47.
Abbott Laboratories (NYSE:ABT) traded up $0.02 during trading hours on Friday, reaching $60.55. 2,446,181 shares of the company traded hands, compared to its average volume of 7,314,548. The company has a market capitalization of $105,410.00, a PE ratio of 58.16, a P/E/G ratio of 1.79 and a beta of 1.55. Abbott Laboratories has a twelve month low of $42.31 and a twelve month 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Thursday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 107.69%.
In other Abbott Laboratories news, Chairman Miles D. White sold 276,886 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total value of $15,065,367.26. Following the completion of the transaction, 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 link. Also, insider Daniel Gesua Sive Salvadori sold 28,319 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $54.92, for a total value of $1,555,279.48. Following the completion of the transaction, the insider now directly owns 102,117 shares of the company’s stock, valued at approximately $5,608,265.64. 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.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rowland & Co. Investment Counsel ADV bought a new position in Abbott Laboratories in the 4th quarter worth approximately $102,000. Icon Wealth Partners LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $102,000. SWS Partners purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $104,000. Heritage Trust Co raised its holdings in shares of Abbott Laboratories by 10.1% during the 2nd 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 in the last quarter. Finally, Tributary Capital Management LLC purchased a new stake in shares of Abbott Laboratories during the 3rd quarter worth approximately $106,000. 70.01% of the stock is owned by hedge funds and other 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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