Abbott Laboratories (NYSE:ABT – Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.310-1.370 for the period, compared to the consensus earnings per share estimate of 1.340. The company issued revenue guidance of -. Abbott Laboratories also updated its FY 2024 guidance to 4.640-4.700 EPS.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on ABT shares. Barclays upped their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Evercore ISI lifted their price objective on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Sanford C. Bernstein boosted their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday. Citigroup lifted their price target on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, Edward Jones lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $129.67.
Get Our Latest Analysis on Abbott Laboratories
Abbott Laboratories Stock Up 1.3 %
Abbott Laboratories (NYSE:ABT – Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. During the same quarter in the previous year, the company earned $1.14 EPS. The business’s revenue was up 4.9% on a year-over-year basis. On average, equities analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current year.
Abbott Laboratories Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.84%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.
Insider Buying and Selling at Abbott Laboratories
In related news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the transaction, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.
About Abbott Laboratories
Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.
Read More
- Five stocks we like better than Abbott Laboratories
- The Significance of a Trillion-Dollar Market Cap Goes Beyond a Number
- Misses and Beats: 3 Stocks That Are Moving Markets Right Now
- Insider Trading – What You Need to Know
- Cisco on the Rise: AI Potential and Analyst Upgrades Drive Gains
- How to Know if a Stock Pays Dividends and When They Are Paid Out
- MarketBeat Week in Review – 10/14 – 10/18
Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.