Zacks: Brokerages Anticipate Abbott Laboratories (NYSE:ABT) to Announce $1.23 Earnings Per Share

Equities analysts forecast that Abbott Laboratories (NYSE:ABT) will post earnings of $1.23 per share for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Abbott Laboratories’ earnings. The highest EPS estimate is $1.32 and the lowest is $1.20. Abbott Laboratories posted earnings of $0.57 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 115.8%. The company is scheduled to report its next earnings report on Thursday, July 15th.

On average, analysts expect that Abbott Laboratories will report full year earnings of $5.05 per share for the current year, with EPS estimates ranging from $5.00 to $5.10. For the next fiscal year, analysts forecast that the business will post earnings of $5.46 per share, with EPS estimates ranging from $5.28 to $5.60. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Abbott Laboratories.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Monday, April 19th. The healthcare product maker reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.05. The firm had revenue of $10.45 billion for the quarter, compared to analysts’ expectations of $10.72 billion. Abbott Laboratories had a net margin of 10.50% and a return on equity of 18.19%. The firm’s revenue was up 35.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 earnings per share.

Several brokerages recently weighed in on ABT. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a report on Tuesday, February 2nd. Credit Suisse Group raised their price objective on shares of Abbott Laboratories from $118.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, January 28th. Cowen raised their price objective on shares of Abbott Laboratories from $113.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, January 28th. Wells Fargo & Company raised their price objective on shares of Abbott Laboratories from $128.00 to $137.00 in a report on Thursday, January 28th. Finally, Raymond James raised their price objective on shares of Abbott Laboratories from $126.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, March 17th. One investment 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’s stock. The company currently has a consensus rating of “Buy” and an average price target of $126.06.

In related news, EVP Andrea F. Wainer sold 587 shares of the business’s stock in a transaction dated Monday, March 1st. The shares were sold at an average price of $120.61, for a total value of $70,798.07. Following the completion of the transaction, the executive vice president now owns 58,337 shares of the company’s stock, valued at approximately $7,036,025.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrea F. Wainer sold 6,200 shares of the business’s stock in a transaction dated Wednesday, March 3rd. The shares were sold at an average price of $121.79, for a total transaction of $755,098.00. Following the completion of the transaction, the executive vice president now directly owns 51,550 shares of the company’s stock, valued at approximately $6,278,274.50. The disclosure for this sale can be found here. Insiders have sold a total of 8,726 shares of company stock valued at $1,064,230 in the last ninety days. Corporate insiders own 1.70% of the company’s stock.

A number of hedge funds have recently made changes to their positions in ABT. Atlas Private Wealth Advisors increased its stake in shares of Abbott Laboratories by 107.3% during the 4th quarter. Atlas Private Wealth Advisors now owns 228 shares of the healthcare product maker’s stock valued at $25,000 after acquiring an additional 118 shares during the last quarter. Inspire Advisors LLC acquired a new position in shares of Abbott Laboratories during the 4th quarter valued at about $29,000. Black Swift Group LLC acquired a new position in shares of Abbott Laboratories during the 4th quarter valued at about $35,000. Krane Funds Advisors LLC acquired a new position in shares of Abbott Laboratories during the 4th quarter valued at about $39,000. Finally, PrairieView Partners LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth about $41,000. 72.58% of the stock is owned by hedge funds and other institutional investors.

NYSE:ABT traded down $1.63 during mid-day trading on Thursday, hitting $117.90. The stock had a trading volume of 101,551 shares, compared to its average volume of 5,216,047. The stock has a 50-day simple moving average of $120.90 and a two-hundred day simple moving average of $115.19. The company has a market capitalization of $208.86 billion, a PE ratio of 63.24, a PEG ratio of 2.06 and a beta of 0.83. Abbott Laboratories has a twelve month low of $86.16 and a twelve month high of $128.54. The company has a current ratio of 1.70, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58.

The business also recently announced a quarterly dividend, which will be paid on Monday, May 17th. Shareholders of record on Thursday, April 15th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, April 14th. This represents a $1.80 annualized dividend and a dividend yield of 1.53%. Abbott Laboratories’s payout ratio is currently 55.56%.

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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