Abbott Laboratories (NYSE:ABT) Updates Q3 Earnings Guidance

Abbott Laboratories (NYSE:ABT) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.83-0.85 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.85. Abbott Laboratories also updated its FY 2019 guidance to $3.21-3.27 EPS.

NYSE:ABT traded up $0.96 during midday trading on Thursday, hitting $85.56. The company’s stock had a trading volume of 6,200,691 shares, compared to its average volume of 5,678,277. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.68. Abbott Laboratories has a fifty-two week low of $63.07 and a fifty-two week high of $88.76. The company’s 50 day simple moving average is $85.63. The company has a market capitalization of $146.98 billion, a price-to-earnings ratio of 29.71, a P/E/G ratio of 2.34 and a beta of 1.12.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. Abbott Laboratories had a return on equity of 17.26% and a net margin of 9.36%. The firm had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8 billion. During the same quarter last year, the firm posted $0.73 EPS. The business’s revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts anticipate that Abbott Laboratories will post 3.24 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.50%. Abbott Laboratories’s dividend payout ratio (DPR) is 44.44%.

A number of research analysts have weighed in on the company. Wells Fargo & Co raised their price objective on Abbott Laboratories from $89.00 to $91.00 and gave the company an outperform rating in a report on Thursday, June 13th. Zacks Investment Research downgraded Abbott Laboratories from a buy rating to a hold rating and set a $84.00 target price for the company. in a research note on Friday, June 7th. Royal Bank of Canada raised their target price on Abbott Laboratories to $82.00 and gave the stock a buy rating in a research note on Monday, April 15th. They noted that the move was a valuation call. Raymond James raised their target price on Abbott Laboratories from $87.00 to $93.00 and gave the stock an outperform rating in a research note on Thursday, July 18th. Finally, Morgan Stanley raised their target price on Abbott Laboratories from $85.00 to $93.00 and gave the stock an overweight rating in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $85.82.

In other news, insider Brian J. Blaser sold 450,062 shares of Abbott Laboratories stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $75.52, for a total value of $33,988,682.24. Following the completion of the transaction, the insider now owns 295,745 shares in the company, valued at approximately $22,334,662.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Randel William Woodgrift sold 65,000 shares of Abbott Laboratories stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $88.01, for a total value of $5,720,650.00. Following the completion of the transaction, the insider now owns 117,562 shares of the company’s stock, valued at approximately $10,346,631.62. The disclosure for this sale can be found here. Insiders have sold a total of 818,331 shares of company stock valued at $65,369,215 over the last 90 days. 0.70% of the stock is currently owned by company insiders.

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 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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