Brokerages predict that Abbott Laboratories (NYSE:ABT) will report sales of $10.45 billion for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Abbott Laboratories’ earnings. The lowest sales estimate is $10.27 billion and the highest is $10.75 billion. Abbott Laboratories posted sales of $7.33 billion in the same quarter last year, which suggests a positive year over year growth rate of 42.6%. The company is expected to issue its next quarterly earnings results on Thursday, July 15th.
According to Zacks, analysts expect that Abbott Laboratories will report full year sales of $41.85 billion for the current fiscal year, with estimates ranging from $41.17 billion to $42.19 billion. For the next financial year, analysts anticipate that the business will post sales of $41.92 billion, with estimates ranging from $40.45 billion to $44.75 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Abbott Laboratories.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Monday, April 19th. The healthcare product maker reported $1.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.05. Abbott Laboratories had a return on equity of 18.19% and a net margin of 10.50%. The business had revenue of $10.45 billion during the quarter, compared to the consensus estimate of $10.72 billion. During the same period last year, the business posted $0.65 earnings per share. The business’s revenue for the quarter was up 35.2% on a year-over-year basis.
ABT has been the topic of a number of recent analyst reports. Credit Suisse Group raised their target price on shares of Abbott Laboratories from $118.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, January 28th. SVB Leerink lifted 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 note on Thursday, January 28th. BTIG Research raised shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and set a $140.00 price target on the stock in a research note on Thursday, January 28th. 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 research note on Tuesday, February 2nd. Finally, Cowen lifted their price target on shares of Abbott Laboratories from $113.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, January 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $126.06.
ABT traded down $1.63 on Friday, reaching $117.90. The company had a trading volume of 101,551 shares, compared to its average volume of 5,216,047. The business has a 50 day simple moving average of $120.90 and a 200 day simple moving average of $115.19. The company has a market cap of $208.86 billion, a price-to-earnings ratio of 63.24, a P/E/G ratio of 2.06 and a beta of 0.83. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.70. Abbott Laboratories has a 52-week low of $86.16 and a 52-week high of $128.54.
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 17th. Shareholders of record on Thursday, April 15th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Wednesday, April 14th. Abbott Laboratories’s dividend payout ratio (DPR) is 55.56%.
In other Abbott Laboratories news, SVP Randel William Woodgrift sold 1,034 shares of the business’s stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $120.61, for a total value of $124,710.74. Following the completion of the transaction, the senior vice president now owns 51,495 shares of the company’s stock, valued at approximately $6,210,811.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mary K. Moreland sold 400 shares of the business’s stock in a transaction dated Monday, February 22nd. The stock was sold at an average price of $121.84, for a total value of $48,736.00. Following the completion of the transaction, the executive vice president now directly owns 76,886 shares of the company’s stock, valued at approximately $9,367,790.24. The disclosure for this sale can be found here. In the last three months, insiders sold 8,726 shares of company stock valued at $1,064,230. 1.70% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Atlas Private Wealth Advisors increased its position in shares of Abbott Laboratories by 107.3% during the 4th quarter. Atlas Private Wealth Advisors now owns 228 shares of the healthcare product maker’s stock valued at $25,000 after purchasing an additional 118 shares during the last quarter. Inspire Advisors LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $29,000. Black Swift Group LLC bought a new position in shares of Abbott Laboratories during the 4th quarter valued at approximately $35,000. Krane Funds Advisors LLC bought a new position in shares of Abbott Laboratories during the 4th quarter valued at approximately $39,000. Finally, Wealthcare Capital Management LLC bought a new position in shares of Abbott Laboratories during the 1st quarter valued at approximately $42,000. 72.58% of the stock is owned by hedge funds and other institutional investors.
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, MÃ©niÃ¨re'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.
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