Abbott Laboratories (ABT) Updates Q2 Earnings Guidance

Abbott Laboratories (NYSE:ABT) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.79-0.81 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.81. Abbott Laboratories also updated its FY 2019 guidance to $3.15-3.25 EPS.

Several research firms have commented on ABT. Barclays set a $84.00 target price on shares of Abbott Laboratories and gave the company a buy rating in a research note on Friday, March 8th. Argus raised their target price on shares of Abbott Laboratories to $90.00 and gave the company an in-line rating in a research note on Friday, January 25th. They noted that the move was a valuation call. BTIG Research reissued a hold rating on shares of Abbott Laboratories in a research note on Thursday, January 24th. Gabelli reissued a buy rating on shares of Abbott Laboratories in a research note on Wednesday, January 2nd. Finally, Zacks Investment Research raised shares of Abbott Laboratories from a hold rating to a buy rating and set a $88.00 target price on the stock in a research note on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $80.48.

NYSE:ABT opened at $73.92 on Friday. Abbott Laboratories has a twelve month low of $56.81 and a twelve month high of $80.74. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.62 and a quick ratio of 1.20. The stock has a market cap of $128.01 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 2.08 and a beta of 1.13.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02. Abbott Laboratories had a net margin of 7.74% and a return on equity of 16.55%. The company had revenue of $7.54 billion during the quarter, compared to analyst estimates of $7.49 billion. During the same quarter last year, the firm posted $0.59 EPS. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts expect that Abbott Laboratories will post 3.2 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s payout ratio is 44.44%.

In other Abbott Laboratories news, insider Jaime Contreras sold 177,457 shares of the firm’s stock in a transaction dated Wednesday, January 30th. The shares were sold at an average price of $70.00, for a total value of $12,421,990.00. Following the completion of the transaction, the insider now directly owns 100,985 shares in the company, valued at $7,068,950. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John G. Stratton bought 3,455 shares of the firm’s stock in a transaction on Thursday, January 31st. The stock was purchased at an average price of $72.32 per share, with a total value of $249,865.60. Following the completion of the acquisition, the director now owns 3,558 shares of the company’s stock, valued at $257,314.56. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 280,021 shares of company stock valued at $20,485,856. Corporate insiders own 0.70% of the company’s stock.

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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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines 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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