Abbott Laboratories (ABT) Updates FY18 Earnings Guidance

Abbott Laboratories (NYSE:ABT) issued an update on its FY18 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.87-2.89 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.88. Abbott Laboratories also updated its FY 2018 guidance to $2.87-2.89 EPS.

ABT stock opened at $70.95 on Wednesday. The company has a market capitalization of $128.70 billion, a PE ratio of 28.38, a PEG ratio of 2.05 and a beta of 1.49. Abbott Laboratories has a twelve month low of $53.61 and a twelve month high of $74.15. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.58 and a quick ratio of 1.16.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. The business had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.65 billion. Abbott Laboratories had a return on equity of 15.30% and a net margin of 3.13%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 earnings per share. On average, sell-side analysts predict that Abbott Laboratories will post 2.88 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Friday, October 12th. Abbott Laboratories’s payout ratio is currently 44.80%.

Several equities research analysts have recently weighed in on ABT shares. Cowen increased their price objective on Abbott Laboratories from $72.00 to $86.00 and gave the company an average rating in a report on Friday, October 5th. Royal Bank of Canada reissued a buy rating and issued a $70.00 price objective on shares of Abbott Laboratories in a report on Thursday, July 19th. Zacks Investment Research raised Abbott Laboratories from a hold rating to a buy rating and set a $70.00 price objective for the company in a report on Thursday, July 19th. Stifel Nicolaus increased their price objective on Abbott Laboratories from $71.00 to $72.00 and gave the company a buy rating in a report on Thursday, July 19th. Finally, Raymond James increased their price objective on Abbott Laboratories from $72.00 to $77.00 and gave the company an outperform rating in a report on Monday, September 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $74.28.

In other news, insider Sharon J. Bracken sold 615 shares of the company’s stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $65.16, for a total transaction of $40,073.40. Following the completion of the sale, the insider now owns 40,761 shares in the company, valued at $2,655,986.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Pederson sold 1,050 shares of the company’s stock in a transaction that occurred on Tuesday, July 24th. The stock was sold at an average price of $63.43, for a total value of $66,601.50. Following the sale, the insider now owns 79,467 shares of the company’s stock, valued at approximately $5,040,591.81. The disclosure for this sale can be found here. Insiders have sold 155,321 shares of company stock valued at $10,492,583 in the last 90 days. Company insiders own 0.74% of the company’s stock.

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

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