Analysts predict that Abbott Laboratories (NYSE:ABT) will announce $0.58 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for Abbott Laboratories’ earnings. The lowest EPS estimate is $0.57 and the highest is $0.59. Abbott Laboratories posted earnings of $0.48 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 20.8%. The firm is expected to report its next earnings results before the market opens 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 fiscal year, analysts expect that the business will report earnings of $3.22 per share, with EPS estimates ranging from $3.15 to $3.30. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Abbott Laboratories.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 18th. The healthcare product maker reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.01. The business had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.28 billion. Abbott Laboratories had a return on equity of 13.88% and a net margin of 1.74%. The company’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the company earned $0.48 earnings per share.
Several brokerages have weighed in on ABT. Barclays raised their price target on Abbott Laboratories from $66.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Guggenheim restated a “buy” rating and issued a $72.00 price objective on shares of Abbott Laboratories in a research note on Thursday, January 25th. Royal Bank of Canada restated a “buy” rating and issued a $67.00 price objective on shares of Abbott Laboratories in a research note on Thursday, January 25th. Leerink Swann restated a “market perform” rating and issued a $68.00 price objective (up from $60.00) on shares of Abbott Laboratories in a research note on Thursday, January 25th. Finally, Citigroup raised their price objective on Abbott Laboratories from $59.00 to $64.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Six 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 $66.83.
Shares of NYSE ABT opened at $59.52 on Monday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.86. The stock has a market capitalization of $104,430.77, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 1.77 and a beta of 1.50. Abbott Laboratories has a fifty-two week low of $42.88 and a fifty-two 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 given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.88%. The ex-dividend date is Thursday, April 12th. Abbott Laboratories’s dividend payout ratio is currently 44.80%.
In related news, EVP Stephen R. Fussell sold 13,313 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $62.84, for a total transaction of $836,588.92. Following the completion of the transaction, the executive vice president now directly owns 152,343 shares in the company, valued at $9,573,234.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel J. Starks purchased 40,037 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, February 27th. The shares were bought at an average price of $60.67 per share, with a total value of $2,429,044.79. Following the completion of the transaction, the director now owns 6,943,348 shares of the company’s stock, valued at approximately $421,252,923.16. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 124,261 shares of company stock valued at $7,559,987. 0.74% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new stake in shares of Abbott Laboratories in the third quarter valued at approximately $47,713,000. Moody Lynn & Lieberson LLC increased its position in shares of Abbott Laboratories by 17.1% in the third quarter. Moody Lynn & Lieberson LLC now owns 326,468 shares of the healthcare product maker’s stock valued at $17,420,000 after buying an additional 47,610 shares in the last quarter. Teachers Insurance & Annuity Association of America increased its position in shares of Abbott Laboratories by 7.4% in the fourth quarter. Teachers Insurance & Annuity Association of America now owns 240,902 shares of the healthcare product maker’s stock valued at $13,748,000 after buying an additional 16,502 shares in the last quarter. Folger Hill Asset Management LP purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $1,398,000. Finally, Zeke Capital Advisors LLC increased its position in shares of Abbott Laboratories by 3.2% in the fourth quarter. Zeke Capital Advisors LLC now owns 70,476 shares of the healthcare product maker’s stock valued at $4,022,000 after buying an additional 2,198 shares in the last quarter. Institutional investors and hedge funds own 72.34% of the company’s stock.
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 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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