Abbott Laboratories (NYSE:ABT) Updates FY21 Earnings Guidance

Abbott Laboratories (NYSE:ABT) updated its FY21 earnings guidance on Thursday. The company provided earnings per share guidance of $4.30-4.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.36. Abbott Laboratories also updated its FY 2021 guidance to $4.300-$4.500 EPS.

Several research firms recently issued reports on ABT. reduced their price target on shares of Abbott Laboratories from $138.00 to $125.00 and set a buy rating on the stock in a research report on Wednesday, June 2nd. Barclays reduced their price target on shares of Abbott Laboratories from $150.00 to $125.00 and set an overweight rating on the stock in a research report on Wednesday, June 2nd. SVB Leerink increased their price target on shares of Abbott Laboratories from $115.00 to $128.00 and gave the stock a market perform rating in a research report on Tuesday. Wells Fargo & Company increased their price target on shares of Abbott Laboratories from $125.00 to $135.00 and gave the stock an overweight rating in a research report on Monday, July 12th. Finally, Morgan Stanley dropped their price objective on shares of Abbott Laboratories from $140.00 to $126.00 and set an overweight rating for the company in a research note on Wednesday, June 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $123.22.

Shares of ABT traded down $1.13 during trading hours on Thursday, hitting $117.85. 261,127 shares of the stock were exchanged, compared to its average volume of 5,344,334. Abbott Laboratories has a fifty-two week low of $98.00 and a fifty-two week high of $128.54. The company has a quick ratio of 1.32, a current ratio of 1.75 and a debt-to-equity ratio of 0.52. The business’s 50-day simple moving average is $114.72. The company has a market capitalization of $209.40 billion, a price-to-earnings ratio of 37.30, a P/E/G ratio of 2.33 and a beta of 0.68.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 22nd. The healthcare product maker reported $1.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.15. Abbott Laboratories had a net margin of 15.33% and a return on equity of 24.02%. The company had revenue of $10.22 billion during the quarter, compared to analysts’ expectations of $9.67 billion. During the same period in the prior year, the company posted $0.57 earnings per share. Abbott Laboratories’s revenue for the quarter was up 41.2% compared to the same quarter last year. As a group, equities analysts anticipate that Abbott Laboratories will post 4.35 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 16th. Stockholders of record on Thursday, July 15th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Wednesday, July 14th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 49.32%.

In other Abbott Laboratories news, SVP Jared Watkin sold 94,576 shares of the firm’s stock in a transaction on Friday, April 30th. The shares were sold at an average price of $119.90, for a total value of $11,339,662.40. Following the completion of the sale, the senior vice president now directly owns 59,783 shares in the company, valued at $7,167,981.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.50% of the company’s stock.

A hedge fund recently raised its stake in Abbott Laboratories stock. Camden National Bank boosted its stake in Abbott Laboratories (NYSE:ABT) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,707 shares of the healthcare product maker’s stock after purchasing an additional 114 shares during the quarter. Camden National Bank’s holdings in Abbott Laboratories were worth $844,000 as of its most recent SEC filing. 72.99% of the stock is owned by hedge funds and other institutional investors.

About Abbott Laboratories

Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.

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Earnings History and Estimates for Abbott Laboratories (NYSE:ABT)

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