Abbott Laboratories (NYSE:ABT) Releases Q3 2024 Earnings Guidance

Abbott Laboratories (NYSE:ABT) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.180-1.220 for the period, compared to the consensus estimate of 1.200. The company issued revenue guidance of -. Abbott Laboratories also updated its FY 2024 guidance to 4.610-4.710 EPS.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. The Goldman Sachs Group initiated coverage on Abbott Laboratories in a report on Thursday, May 30th. They set a buy rating and a $121.00 target price on the stock. Citigroup dropped their price objective on Abbott Laboratories from $128.00 to $119.00 and set a buy rating on the stock in a report on Wednesday, May 22nd. Barclays dropped their price objective on Abbott Laboratories from $141.00 to $140.00 and set an overweight rating on the stock in a report on Monday, April 22nd. Evercore ISI dropped their price objective on Abbott Laboratories from $125.00 to $120.00 and set an outperform rating on the stock in a report on Tuesday, July 2nd. Finally, Royal Bank of Canada restated an outperform rating and set a $125.00 price objective on shares of Abbott Laboratories in a report on Tuesday, June 4th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $120.18.

Abbott Laboratories Trading Up 2.0 %

Shares of ABT stock opened at $102.04 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The stock has a fifty day moving average of $103.78 and a two-hundred day moving average of $109.47. The firm has a market capitalization of $177.51 billion, a PE ratio of 31.79, a price-to-earnings-growth ratio of 2.40 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.65%. The company had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.37 billion. During the same quarter in the previous year, the firm posted $1.08 EPS. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, research analysts expect that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Monday, July 15th. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Insider Transactions at Abbott Laboratories

In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the sale, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at $6,530,337.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the transaction, the executive vice president now owns 61,462 shares in the company, valued at $6,530,337.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction on Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the transaction, the executive vice president now owns 211,341 shares in the company, valued at approximately $22,099,928.37. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

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.