Equities analysts expect Abbott Laboratories (NYSE:ABT) to announce earnings per share (EPS) of $0.73 for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Abbott Laboratories’ earnings, with the lowest EPS estimate coming in at $0.71 and the highest estimate coming in at $0.74. Abbott Laboratories reported earnings of $0.65 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.3%. The firm is scheduled to issue its next earnings report before the market opens on Wednesday, January 24th.
According to Zacks, analysts expect that Abbott Laboratories will report full-year earnings of $2.50 per share for the current financial year, with EPS estimates ranging from $2.48 to $2.53. For the next year, analysts expect that the business will post earnings of $2.83 per share, with EPS estimates ranging from $2.80 to $2.87. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Abbott Laboratories.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. The company had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 earnings per share.
A number of brokerages have issued reports on ABT. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Tuesday. Evercore ISI assumed coverage on shares of Abbott Laboratories in a research report on Wednesday. They set an “outperform” rating and a $64.00 target price for the company. Morgan Stanley raised shares of Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 target price for the company in a research report on Tuesday. JPMorgan Chase & Co. raised shares of Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 target price for the company in a research report on Tuesday. Finally, ValuEngine downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $59.59.
Abbott Laboratories (ABT) traded down $0.10 during trading hours on Thursday, hitting $58.82. 6,234,000 shares of the stock traded hands, compared to its average volume of 6,240,000. Abbott Laboratories has a one year low of $38.98 and a one year high of $59.60. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $102,380.00, a P/E ratio of 48.61, a PEG ratio of 1.87 and a beta of 1.55.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Thursday, January 11th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s dividend payout ratio (DPR) is 87.60%.
In other news, insider Daniel Gesua Sive Salvadori sold 28,319 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $54.92, for a total value of $1,555,279.48. Following the completion of the sale, the insider now directly owns 102,117 shares of the company’s stock, valued at approximately $5,608,265.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alejandro D. Wellisch sold 2,153 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $55.86, for a total transaction of $120,266.58. Following the completion of the sale, the insider now directly owns 10,256 shares of the company’s stock, valued at $572,900.16. The disclosure for this sale can be found here. In the last three months, insiders sold 501,172 shares of company stock worth $27,533,150. Insiders own 0.76% of the company’s stock.
Large investors have recently bought and sold shares of the company. Tributary Capital Management LLC bought a new stake in shares of Abbott Laboratories in the third quarter worth approximately $106,000. Heritage Trust Co grew its stake in shares of Abbott Laboratories by 10.1% in the second 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 during the period. Winfield Associates Inc. grew its stake in shares of Abbott Laboratories by 3.9% in the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock worth $116,000 after acquiring an additional 89 shares during the period. Thompson Davis & CO. Inc. grew its stake in shares of Abbott Laboratories by 17.7% in the second quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock worth $120,000 after acquiring an additional 370 shares during the period. Finally, JFS Wealth Advisors LLC grew its position in Abbott Laboratories by 349.0% during the second quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock valued at $131,000 after buying an additional 2,094 shares during the period. 71.15% of the stock is owned by hedge funds and other institutional investors.
About Abbott Laboratories
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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