$0.74 EPS Expected for Abbott Laboratories (ABT) This Quarter

Equities analysts forecast that Abbott Laboratories (NYSE:ABT) will post earnings of $0.74 per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Abbott Laboratories’ earnings, with estimates ranging from $0.73 to $0.75. Abbott Laboratories posted earnings of $0.66 per share in the same quarter last year, which indicates a positive year over year growth rate of 12.1%. The business is expected to report 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 financial year, with EPS estimates ranging from $2.85 to $2.90. For the next year, analysts expect that the business will post earnings of $3.24 per share, with EPS estimates ranging from $3.15 to $3.30. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Abbott Laboratories.

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

ABT has been the topic of several analyst reports. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research note on Tuesday, September 18th. Wells Fargo & Co upped their price objective on Abbott Laboratories from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, September 24th. Raymond James upped their price objective on Abbott Laboratories from $72.00 to $77.00 and gave the company an “outperform” rating in a research note on Monday, September 24th. Stifel Nicolaus upped their price objective on Abbott Laboratories from $71.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, July 19th. Finally, Sanford C. Bernstein initiated coverage on Abbott Laboratories in a research note on Wednesday, June 27th. They issued an “outperform” rating and a $73.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $73.72.

Shares of ABT stock traded up $1.23 during trading hours on Friday, hitting $69.33. The company had a trading volume of 10,345,615 shares, compared to its average volume of 6,017,730. Abbott Laboratories has a 12 month low of $53.61 and a 12 month high of $74.15. The firm has a market cap of $128.70 billion, a P/E ratio of 27.73, a P/E/G ratio of 2.05 and a beta of 1.49. The company has a current ratio of 1.58, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 15th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, October 12th. This represents a $1.12 dividend on an annualized basis and a yield of 1.62%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.80%.

In related news, insider Daniel Gesua Sive Salvadori sold 5,000 shares of the stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $73.39, for a total transaction of $366,950.00. Following the sale, the insider now directly owns 93,321 shares in the company, valued at approximately $6,848,828.19. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Sharon J. Bracken sold 615 shares of the stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $65.16, for a total value of $40,073.40. Following the sale, the insider now owns 40,761 shares in the company, valued at $2,655,986.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 155,321 shares of company stock worth $10,492,583. 0.74% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABT. Atlantic Trust LLC bought a new stake in Abbott Laboratories during the 2nd quarter worth approximately $104,000. Rainier Group Investment Advisory LLC bought a new stake in Abbott Laboratories during the 1st quarter worth approximately $114,000. FNY Investment Advisers LLC bought a new stake in Abbott Laboratories during the 2nd quarter worth approximately $118,000. Fort L.P. bought a new stake in Abbott Laboratories during the 2nd quarter worth approximately $119,000. Finally, Security National Bank of SO Dak grew its position in Abbott Laboratories by 72.0% during the 2nd quarter. Security National Bank of SO Dak now owns 2,098 shares of the healthcare product maker’s stock worth $128,000 after acquiring an additional 878 shares during the last quarter. Institutional investors and hedge funds own 72.16% 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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