Abbott Laboratories (NYSE:ABT) – Leerink Swann increased their FY2018 earnings estimates for shares of Abbott Laboratories in a note issued to investors on Wednesday, October 17th. Leerink Swann analyst D. Antalffy now forecasts that the healthcare product maker will earn $2.89 per share for the year, up from their prior forecast of $2.88. Leerink Swann also issued estimates for Abbott Laboratories’ Q3 2019 earnings at $0.84 EPS and FY2022 earnings at $4.50 EPS.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.75. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.01%. The company had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.65 billion. During the same period in the previous year, the business earned $0.66 earnings per share. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year.
Abbott Laboratories stock opened at $68.14 on Friday. 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 firm has a market capitalization of $123.21 billion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 1.96 and a beta of 1.49. Abbott Laboratories has a twelve month low of $53.61 and a twelve month high of $74.15.
Several large investors have recently modified their holdings of the company. Signature Estate & Investment Advisors LLC purchased a new position in shares of Abbott Laboratories during the third quarter valued at about $103,000. Atlantic Trust LLC purchased a new position in shares of Abbott Laboratories during the second quarter valued at about $104,000. Rainier Group Investment Advisory LLC purchased a new position in shares of Abbott Laboratories during the first quarter valued at about $114,000. FNY Investment Advisers LLC purchased a new position in shares of Abbott Laboratories during the second quarter valued at about $118,000. Finally, Fort L.P. purchased a new position in shares of Abbott Laboratories during the second quarter valued at about $119,000. 72.23% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Brian J. Blaser sold 15,100 shares of the company’s stock in a transaction dated Tuesday, July 24th. The shares were sold at an average price of $63.96, for a total transaction of $965,796.00. Following the completion of the transaction, the executive vice president now directly owns 151,718 shares of the company’s stock, valued at $9,703,883.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael J. Pederson sold 1,050 shares of the company’s stock in a transaction dated Tuesday, July 24th. The shares were sold at an average price of $63.43, for a total transaction of $66,601.50. Following the transaction, the insider now directly owns 79,467 shares of the company’s stock, valued at $5,040,591.81. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 155,321 shares of company stock valued at $10,492,583. Insiders own 0.74% of the company’s stock.
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 paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Friday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 44.80%.
Abbott Laboratories Company Profile
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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