Abbott Laboratories (ABT) Expected to Announce Earnings of $0.74 Per Share

Analysts expect that Abbott Laboratories (NYSE:ABT) will announce $0.74 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Abbott Laboratories’ earnings, with the highest EPS estimate coming in at $0.75 and the lowest estimate coming in at $0.73. Abbott Laboratories reported earnings of $0.66 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.1%. The firm is expected to announce its next earnings report before the market opens on Wednesday, October 17th.

According to Zacks, analysts expect that Abbott Laboratories will report full-year earnings of $2.88 per share for the current year, with EPS estimates ranging from $2.85 to $2.90. For the next financial year, analysts anticipate that the business will report earnings of $3.24 per share, with EPS estimates ranging from $3.15 to $3.30. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Abbott Laboratories.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, July 18th. The healthcare product maker reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. Abbott Laboratories had a return on equity of 15.30% and a net margin of 3.13%. The firm had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.71 billion. During the same quarter in the previous year, the business posted $0.62 earnings per share. The business’s revenue for the quarter was up 17.0% on a year-over-year basis.

ABT has been the topic of a number of recent analyst reports. Sanford C. Bernstein initiated coverage on Abbott Laboratories in a research report on Wednesday, June 27th. They issued an “outperform” rating and a $73.00 target price on the stock. Stifel Nicolaus lifted their target price on Abbott Laboratories from $71.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, July 19th. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Thursday, July 19th. Royal Bank of Canada reiterated a “buy” rating and issued a $70.00 target price on shares of Abbott Laboratories in a research report on Thursday, July 19th. Finally, Wells Fargo & Co lifted their target price on Abbott Laboratories from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $71.11.

Abbott Laboratories stock traded up $2.46 during midday trading on Wednesday, reaching $71.51. The company’s stock had a trading volume of 701,934 shares, compared to its average volume of 4,604,017. Abbott Laboratories has a 52 week low of $51.50 and a 52 week high of $69.25. The company has a quick ratio of 1.16, a current ratio of 1.58 and a debt-to-equity ratio of 0.64. The stock has a market cap of $121.14 billion, a PE ratio of 28.55, a P/E/G ratio of 1.93 and a beta of 1.49.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, October 12th. Abbott Laboratories’s payout ratio is 44.80%.

In related news, insider Andrew H. Lane sold 9,097 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $67.11, for a total value of $610,499.67. Following the transaction, the insider now directly owns 35,576 shares of the company’s stock, valued at $2,387,505.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Brian J. Blaser sold 58,200 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $68.79, for a total value of $4,003,578.00. Following the completion of the transaction, the insider now directly owns 184,918 shares in the company, valued at $12,720,509.22. The disclosure for this sale can be found here. Insiders have sold 148,589 shares of company stock worth $9,998,590 over the last three months. Insiders own 0.74% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. Waters Parkerson & CO. LLC lifted its position in Abbott Laboratories by 0.4% in the 1st quarter. Waters Parkerson & CO. LLC now owns 523,452 shares of the healthcare product maker’s stock valued at $31,365,000 after purchasing an additional 1,902 shares during the last quarter. Exencial Wealth Advisors LLC increased its position in shares of Abbott Laboratories by 10.7% in the first quarter. Exencial Wealth Advisors LLC now owns 47,756 shares of the healthcare product maker’s stock worth $2,862,000 after acquiring an additional 4,614 shares in the last quarter. Usca Ria LLC increased its position in shares of Abbott Laboratories by 16.3% in the first quarter. Usca Ria LLC now owns 21,394 shares of the healthcare product maker’s stock worth $1,282,000 after acquiring an additional 2,995 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of Abbott Laboratories by 18.7% in the first quarter. Venturi Wealth Management LLC now owns 12,695 shares of the healthcare product maker’s stock worth $761,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Sector Gamma AS increased its position in shares of Abbott Laboratories by 2.4% in the first quarter. Sector Gamma AS now owns 1,105,642 shares of the healthcare product maker’s stock worth $66,250,000 after acquiring an additional 25,800 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors.

About Abbott Laboratories

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

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