Abbott Laboratories (NYSE:ABT) Forecasted to Post Q3 2024 Earnings of $1.19 Per Share

Abbott Laboratories (NYSE:ABT) – Investment analysts at William Blair lowered their Q3 2024 EPS estimates for shares of Abbott Laboratories in a research note issued on Friday, July 19th. William Blair analyst M. Kaczor now forecasts that the healthcare product maker will earn $1.19 per share for the quarter, down from their prior forecast of $1.21. The consensus estimate for Abbott Laboratories’ current full-year earnings is $4.65 per share. William Blair also issued estimates for Abbott Laboratories’ Q4 2024 earnings at $1.34 EPS, FY2024 earnings at $4.65 EPS and Q3 2025 earnings at $1.31 EPS.

ABT has been the subject of several other research reports. The Goldman Sachs Group began coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective for the company. Citigroup reduced their target price on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Barclays reduced their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Finally, Evercore ISI reduced their target price on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $120.70.

Abbott Laboratories Trading Up 0.2 %

Shares of Abbott Laboratories stock opened at $103.92 on Monday. The stock has a market capitalization of $180.78 billion, a P/E ratio of 32.37, a price-to-earnings-growth ratio of 2.44 and a beta of 0.72. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company has a 50-day simple moving average of $103.76 and a 200 day simple moving average of $109.37. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.32%. The firm had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion. During the same period in the prior year, the firm earned $1.08 EPS. The business’s revenue was up 4.0% on a year-over-year basis.

Hedge Funds Weigh In On Abbott Laboratories

A number of hedge funds have recently bought and sold shares of ABT. Vanguard Group Inc. raised its stake in shares of Abbott Laboratories by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock worth $17,222,332,000 after purchasing an additional 701,740 shares during the period. Perigon Wealth Management LLC raised its stake in shares of Abbott Laboratories by 5.2% during the 4th quarter. Perigon Wealth Management LLC now owns 47,080 shares of the healthcare product maker’s stock worth $5,182,000 after purchasing an additional 2,317 shares during the period. Sanibel Captiva Trust Company Inc. bought a new stake in shares of Abbott Laboratories during the 4th quarter worth $16,764,000. Gradient Investments LLC raised its stake in shares of Abbott Laboratories by 4.7% during the 4th quarter. Gradient Investments LLC now owns 257,508 shares of the healthcare product maker’s stock worth $28,344,000 after purchasing an additional 11,508 shares during the period. Finally, Principal Securities Inc. bought a new stake in shares of Abbott Laboratories during the 4th quarter worth $2,932,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the completion of the transaction, the executive vice president now owns 211,341 shares in the company, valued at approximately $22,099,928.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the completion of the transaction, the executive vice president now owns 211,341 shares in the company, valued at approximately $22,099,928.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the firm’s stock in a transaction that occurred 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 approximately $6,530,337.50. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Monday, July 15th. Abbott Laboratories’s payout ratio is 68.54%.

Abbott Laboratories Company Profile

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.