Abbott Laboratories (NYSE:ABT) Releases FY 2024 Earnings Guidance

Abbott Laboratories (NYSE:ABT) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 4.550-4.700 for the period, compared to the consensus estimate of 4.590. The company issued revenue guidance of -. Abbott Laboratories also updated its FY24 guidance to $4.55-4.70 EPS.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada cut their price objective on shares of Abbott Laboratories from $128.00 to $125.00 and set an outperform rating on the stock in a research note on Thursday. Barclays lifted their price objective on shares of Abbott Laboratories from $133.00 to $141.00 and gave the company an overweight rating in a research note on Friday, January 26th. TheStreet upgraded shares of Abbott Laboratories from a c+ rating to a b- rating in a research note on Thursday, December 21st. Raymond James lifted their price objective on shares of Abbott Laboratories from $124.00 to $127.00 and gave the company an outperform rating in a research note on Thursday, January 25th. Finally, Evercore ISI lifted their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an outperform rating in a research note on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Abbott Laboratories currently has an average rating of Moderate Buy and an average target price of $121.31.

Abbott Laboratories Trading Down 0.6 %

Shares of ABT opened at $105.27 on Friday. The business’s 50-day moving average price is $114.28 and its 200 day moving average price is $107.57. The stock has a market capitalization of $182.66 billion, a P/E ratio of 32.29, a P/E/G ratio of 2.63 and a beta of 0.74. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The firm had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $9.88 billion. Abbott Laboratories had a return on equity of 20.65% and a net margin of 14.27%. Abbott Laboratories’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. Analysts expect that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a yield of 2.09%. Abbott Laboratories’s dividend payout ratio is currently 67.48%.

Insider Buying and Selling

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of Abbott Laboratories stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the transaction, the executive vice president now owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of Abbott Laboratories stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the transaction, the executive vice president now owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following the transaction, the vice president now directly owns 18,760 shares in the company, valued at approximately $2,223,060. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,435 shares of company stock valued at $6,451,298. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Abbott Laboratories

Large investors have recently made changes to their positions in the company. Cornerstone Planning Group LLC bought a new stake in shares of Abbott Laboratories in the 2nd quarter valued at approximately $28,000. Altshuler Shaham Ltd bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $28,000. True Wealth Design LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $33,000. FWL Investment Management LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $33,000. Finally, Quarry LP lifted its holdings in Abbott Laboratories by 132.9% in the 2nd quarter. Quarry LP now owns 333 shares of the healthcare product maker’s stock worth $36,000 after purchasing an additional 190 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Company Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.