Abbott Laboratories (NYSE:ABT) Updates FY 2021 Earnings Guidance

Abbott Laboratories (NYSE:ABT) issued an update on its FY 2021 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 5.000- for the period, compared to the Thomson Reuters consensus estimate of $5.040. The company issued revenue guidance of -.

ABT stock traded down $1.92 during mid-day trading on Tuesday, hitting $117.61. The stock had a trading volume of 532,375 shares, compared to its average volume of 5,216,047. The company has a current ratio of 1.70, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Abbott Laboratories has a 52 week low of $86.16 and a 52 week high of $128.54. The firm has a market capitalization of $208.35 billion, a P/E ratio of 63.24, a P/E/G ratio of 2.06 and a beta of 0.83. The firm has a fifty day simple moving average of $120.90 and a 200 day simple moving average of $115.19.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Monday, April 19th. The healthcare product maker reported $1.32 EPS for the quarter, beating the consensus estimate of $1.27 by $0.05. Abbott Laboratories had a net margin of 10.50% and a return on equity of 18.19%. The firm had revenue of $10.45 billion for the quarter, compared to analyst estimates of $10.72 billion. During the same period last year, the firm earned $0.65 EPS. The business’s quarterly revenue was up 35.2% compared to the same quarter last year. As a group, equities analysts expect that Abbott Laboratories will post 3.57 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 17th. Shareholders of record on Thursday, April 15th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.53%. The ex-dividend date is Wednesday, April 14th. Abbott Laboratories’s dividend payout ratio is currently 55.56%.

Several equities analysts have commented on ABT shares. Atlantic Securities started coverage on shares of Abbott Laboratories in a report on Wednesday, April 21st. They issued a neutral rating and a $122.00 target price on the stock. Wells Fargo & Company lifted their price target on shares of Abbott Laboratories from $128.00 to $137.00 in a report on Thursday, January 28th. Credit Suisse Group lifted their price target on shares of Abbott Laboratories from $118.00 to $130.00 and gave the company an outperform rating in a report on Thursday, January 28th. Raymond James lifted their price target on shares of Abbott Laboratories from $126.00 to $130.00 and gave the company an outperform rating in a report on Wednesday, March 17th. Finally, Zacks Investment Research raised shares of Abbott Laboratories from a hold rating to a buy rating and set a $130.00 price target on the stock in a report on Tuesday, February 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating to the company. Abbott Laboratories presently has an average rating of Buy and an average target price of $126.06.

In related news, SVP Randel William Woodgrift sold 1,034 shares of the business’s stock in a transaction on Monday, March 1st. The shares were sold at an average price of $120.61, for a total transaction of $124,710.74. Following the transaction, the senior vice president now owns 51,495 shares in the company, valued at approximately $6,210,811.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mary K. Moreland sold 505 shares of the business’s stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $128.49, for a total transaction of $64,887.45. Following the transaction, the executive vice president now owns 63,878 shares in the company, valued at approximately $8,207,684.22. The disclosure for this sale can be found here. Insiders sold a total of 8,726 shares of company stock worth $1,064,230 in the last 90 days. Corporate insiders own 1.70% of the company’s stock.

Abbott Laboratories Company Profile

Abbott Laboratories 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 Established Pharmaceutical Products segment 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.

Further Reading: Equal Weight Rating

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

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