Abbott Laboratories (NYSE:ABT) – Equities research analysts at Svb Leerink dropped their FY2019 earnings per share (EPS) estimates for shares of Abbott Laboratories in a research note issued on Thursday, October 17th. Svb Leerink analyst D. Antalffy now expects that the healthcare product maker will post earnings of $3.24 per share for the year, down from their prior estimate of $3.25. Svb Leerink also issued estimates for Abbott Laboratories’ Q4 2019 earnings at $0.95 EPS, Q2 2020 earnings at $0.91 EPS, Q3 2020 earnings at $0.96 EPS, FY2022 earnings at $4.40 EPS and FY2023 earnings at $4.85 EPS.
ABT has been the topic of several other research reports. Cowen increased their price objective on Abbott Laboratories from $86.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. William Blair reissued an “underperform” rating on shares of Abbott Laboratories in a report on Thursday, October 17th. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 target price on the stock. in a report on Wednesday, August 21st. BMO Capital Markets increased their target price on Abbott Laboratories from $87.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Finally, Raymond James reduced their target price on Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. Two analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. Abbott Laboratories currently has an average rating of “Buy” and an average price target of $87.61.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $0.84 earnings per share for the quarter, hitting the consensus estimate of $0.84. The firm had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $8.10 billion. Abbott Laboratories had a return on equity of 17.76% and a net margin of 10.50%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.75 EPS.
Large investors have recently added to or reduced their stakes in the stock. Manchester Financial Inc. acquired a new stake in Abbott Laboratories in the second quarter valued at about $30,000. Redhawk Wealth Advisors Inc. acquired a new stake in Abbott Laboratories in the second quarter valued at about $33,000. Pearl River Capital LLC acquired a new stake in Abbott Laboratories in the second quarter valued at about $41,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Abbott Laboratories in the second quarter valued at about $42,000. Finally, Canton Hathaway LLC acquired a new stake in Abbott Laboratories in the third quarter valued at about $42,000. 73.78% of the stock is currently owned by institutional investors and hedge funds.
In related news, CFO Brian B. Yoor sold 43,763 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $85.77, for a total value of $3,753,552.51. Following the sale, the chief financial officer now directly owns 125,781 shares of the company’s stock, valued at $10,788,236.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Joseph J. Manning sold 47,226 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $85.14, for a total value of $4,020,821.64. Following the completion of the sale, the senior vice president now directly owns 97,755 shares in the company, valued at $8,322,860.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 181,497 shares of company stock worth $15,701,810. 0.70% of the stock is currently owned by insiders.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Friday, October 11th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 44.44%.
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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