Abbott Laboratories (NYSE:ABT) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $3.15-3.25 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.21. Abbott Laboratories also updated its Q2 2019 guidance to $0.79-0.81 EPS.
Shares of Abbott Laboratories stock opened at $76.38 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. The stock has a market cap of $136.13 billion, a P/E ratio of 26.52, a PEG ratio of 2.08 and a beta of 1.13. Abbott Laboratories has a 12-month low of $56.81 and a 12-month high of $80.74.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, January 23rd. The healthcare product maker reported $0.81 earnings per share for the quarter, meeting the consensus estimate of $0.81. The firm had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.82 billion. Abbott Laboratories had a net margin of 7.74% and a return on equity of 16.55%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.74 EPS. As a group, equities research analysts forecast that Abbott Laboratories will post 3.2 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s payout ratio is 44.44%.
Several research analysts recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of Abbott Laboratories to $82.00 and gave the stock a buy rating in a research note on Monday. They noted that the move was a valuation call. Barclays set a $84.00 price objective on shares of Abbott Laboratories and gave the stock a buy rating in a research report on Friday, March 8th. Argus upped their price objective on shares of Abbott Laboratories to $90.00 and gave the stock an in-line rating in a research report on Friday, January 25th. They noted that the move was a valuation call. BTIG Research reaffirmed a hold rating on shares of Abbott Laboratories in a research report on Thursday, January 24th. Finally, Gabelli reaffirmed a buy rating on shares of Abbott Laboratories in a research report on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company’s stock. Abbott Laboratories currently has a consensus rating of Buy and a consensus price target of $80.48.
In other news, SVP Jared Watkin sold 1,391 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $78.00, for a total transaction of $108,498.00. Following the completion of the sale, the senior vice president now directly owns 75,926 shares of the company’s stock, valued at approximately $5,922,228. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Joseph J. Manning sold 5,613 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $79.58, for a total value of $446,682.54. Following the sale, the insider now directly owns 56,029 shares of the company’s stock, valued at $4,458,787.82. The disclosure for this sale can be found here. Insiders have sold a total of 280,021 shares of company stock valued at $20,485,856 in the last three months. Insiders own 0.70% of the company’s stock.
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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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