Abbott Laboratories (NYSE:ABT) Releases Earnings Results, Beats Expectations By $0.05 EPS

Abbott Laboratories (NYSE:ABT) released its earnings results on Monday. The healthcare product maker reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05, MarketWatch Earnings reports. The firm had revenue of $10.45 billion during the quarter, compared to the consensus estimate of $10.72 billion. Abbott Laboratories had a return on equity of 18.19% and a net margin of 10.50%. The company’s revenue was up 35.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 EPS.

Shares of NYSE:ABT opened at $122.60 on Thursday. The business’s 50 day simple moving average is $119.81 and its two-hundred day simple moving average is $114.38. The firm has a market cap of $217.19 billion, a P/E ratio of 64.87, a PEG ratio of 2.06 and a beta of 0.83. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.70. Abbott Laboratories has a 52-week low of $86.16 and a 52-week high of $128.54.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 17th. Shareholders of record on Thursday, April 15th will be issued a $0.45 dividend. The ex-dividend date is Wednesday, April 14th. This represents a $1.80 annualized dividend and a yield of 1.47%. Abbott Laboratories’s payout ratio is currently 55.56%.

Several analysts recently weighed in on ABT shares. William Blair restated an “outperform” rating on shares of Abbott Laboratories in a research report on Tuesday. Cowen upped their price objective on Abbott Laboratories from $113.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, January 28th. Credit Suisse Group upped their price objective on Abbott Laboratories from $118.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, January 28th. Raymond James upped their price objective on Abbott Laboratories from $126.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 17th. Finally, SVB Leerink upped their target price on Abbott Laboratories from $115.00 to $128.00 and gave the stock a “market perform” rating in a report on Thursday, January 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $126.06.

In other news, SVP Joseph J. Manning sold 18,750 shares of the firm’s stock in a transaction that occurred on Monday, February 1st. The stock was sold at an average price of $122.79, for a total value of $2,302,312.50. Following the transaction, the senior vice president now owns 81,561 shares in the company, valued at $10,014,875.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mary K. Moreland sold 505 shares of the firm’s stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $128.49, for a total value of $64,887.45. Following the completion of the transaction, the executive vice president now owns 63,878 shares in the company, valued at approximately $8,207,684.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,476 shares of company stock worth $3,366,543. Corporate insiders own 1.70% of the company’s stock.

About Abbott Laboratories

Abbott Laboratories 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 Established Pharmaceutical Products segment 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.

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Earnings History for Abbott Laboratories (NYSE:ABT)

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