Abbott Laboratories (ABT) Issues Quarterly Earnings Results, Hits Estimates

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Abbott Laboratories (NYSE:ABT) posted its quarterly earnings data on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.75, MarketWatch Earnings reports. The firm had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.65 billion. Abbott Laboratories had a return on equity of 16.05% and a net margin of 2.91%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 EPS.

Shares of ABT stock traded down $0.17 during trading hours on Friday, reaching $72.79. 4,247,580 shares of the company’s stock were exchanged, compared to its average volume of 7,973,342. The company has a quick ratio of 1.13, a current ratio of 1.42 and a debt-to-equity ratio of 0.62. The firm has a market cap of $127.33 billion, a PE ratio of 29.12, a price-to-earnings-growth ratio of 2.15 and a beta of 1.39. Abbott Laboratories has a fifty-two week low of $54.32 and a fifty-two week high of $74.15.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be issued 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 dividend yield of 1.54%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.80%.

In related news, SVP Jaime Contreras sold 64,268 shares of the company’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $66.84, for a total value of $4,295,673.12. Following the completion of the transaction, the senior vice president now directly owns 125,471 shares in the company, valued at $8,386,481.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jared Watkin sold 65,000 shares of the company’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $71.00, for a total value of $4,615,000.00. Following the completion of the transaction, the insider now owns 128,640 shares of the company’s stock, valued at $9,133,440. The disclosure for this sale can be found here. Insiders sold 203,297 shares of company stock valued at $14,018,743 over the last 90 days. 0.74% of the stock is currently owned by corporate insiders.

Several brokerages recently commented on ABT. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research note on Tuesday, September 18th. Barclays began coverage on Abbott Laboratories in a research note on Monday, October 15th. They issued an “overweight” rating and a $80.00 price target for the company. JPMorgan Chase & Co. boosted their price target on Abbott Laboratories from $77.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday, October 8th. Royal Bank of Canada upped their target price on Abbott Laboratories to $77.00 and gave the stock an “outperform” rating in a research report on Thursday, October 11th. Finally, Cowen upped their target price on Abbott Laboratories from $72.00 to $86.00 and gave the stock an “average” rating in a research report on Friday, October 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $75.22.

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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 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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Earnings History for Abbott Laboratories (NYSE:ABT)

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