Wall Street brokerages predict that Abbott Laboratories (NYSE:ABT) will post sales of $8.10 billion for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Abbott Laboratories’ earnings, with estimates ranging from $8.07 billion to $8.13 billion. Abbott Laboratories reported sales of $7.66 billion during the same quarter last year, which suggests a positive year over year growth rate of 5.7%. The company is expected to issue its next earnings report on Wednesday, October 16th.
On average, analysts expect that Abbott Laboratories will report full-year sales of $31.93 billion for the current financial year, with estimates ranging from $31.87 billion to $32.02 billion. For the next financial year, analysts forecast that the firm will post sales of $34.18 billion, with estimates ranging from $33.91 billion to $34.43 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Abbott Laboratories.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.02. Abbott Laboratories had a net margin of 9.36% and a return on equity of 17.26%. The firm had revenue of $7.98 billion for the quarter, compared to analysts’ expectations of $8 billion. During the same period in the prior year, the company posted $0.73 earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis.
A number of analysts have commented on ABT shares. Raymond James upped their price objective on shares of Abbott Laboratories from $87.00 to $93.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Morgan Stanley increased their price target on Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. BMO Capital Markets increased their price objective on Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Wells Fargo & Co raised their target price on Abbott Laboratories from $89.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. Finally, Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 price objective for the company. in a report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $86.38.
ABT traded down $2.44 on Wednesday, reaching $81.93. The company had a trading volume of 4,808,611 shares, compared to its average volume of 4,808,939. The company has a fifty day moving average of $85.82 and a 200-day moving average of $80.12. The company has a market capitalization of $150.05 billion, a P/E ratio of 28.45, a PEG ratio of 2.39 and a beta of 1.12. The company has a current ratio of 1.68, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60. Abbott Laboratories has a one year low of $65.22 and a one year high of $88.76.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, July 12th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.56%. Abbott Laboratories’s dividend payout ratio (DPR) is 44.44%.
In related news, EVP Daniel Gesua Sive Salvadori sold 7,269 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $82.00, for a total value of $596,058.00. Following the transaction, the executive vice president now directly owns 99,479 shares of the company’s stock, valued at approximately $8,157,278. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Sally E. Blount sold 2,500 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $87.65, for a total value of $219,125.00. Following the completion of the sale, the director now owns 26,266 shares of the company’s stock, valued at approximately $2,302,214.90. The disclosure for this sale can be found here. Insiders sold a total of 435,040 shares of company stock worth $37,121,747 in the last 90 days. 0.70% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. Manchester Financial Inc. acquired a new position in Abbott Laboratories during the second quarter valued at $30,000. Front Row Advisors LLC grew its stake in shares of Abbott Laboratories by 790.9% in the 1st quarter. Front Row Advisors LLC now owns 392 shares of the healthcare product maker’s stock valued at $31,000 after buying an additional 348 shares during the period. Weaver Consulting Group purchased a new stake in shares of Abbott Laboratories in the 1st quarter valued at approximately $33,000. Redhawk Wealth Advisors Inc. purchased a new position in shares of Abbott Laboratories during the 2nd quarter worth approximately $33,000. Finally, Beacon Capital Management Inc. purchased a new position in shares of Abbott Laboratories during the 1st quarter worth approximately $38,000. 73.33% of the stock is owned by hedge funds and other 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 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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